Allient (NASDAQ:ALNT) Shares Down 8.2% – What’s Next?

Allient Inc. (NASDAQ:ALNT)’s share price traded down 8.2% during mid-day trading on Friday. The company traded as low as $77.90 and last traded at $77.5150. Approximately 113,207 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 225,029 shares. The stock had previously closed at $84.40.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Allient from $120.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday, November 6th. Finally, Wall Street Zen raised shares of Allient from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.33.

Allient Trading Down 8.1%

The company has a market cap of $1.32 billion, a P/E ratio of 34.94 and a beta of 1.62. The company has a quick ratio of 1.99, a current ratio of 3.49 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $98.24 and a two-hundred day moving average price of $83.34.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.33. The business had revenue of $164.40 million for the quarter, compared to analysts’ expectations of $155.25 million. Allient had a return on equity of 15.80% and a net margin of 6.24%. On average, analysts predict that Allient Inc. will post 3.08 EPS for the current year.

Allient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Allient’s dividend payout ratio (DPR) is 7.21%.

Institutional Investors Weigh In On Allient

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Allient during the 2nd quarter worth $128,774,000. Jennison Associates LLC boosted its position in shares of Allient by 111.5% in the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after purchasing an additional 186,316 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Allient during the second quarter worth $9,051,000. Deutsche Bank AG acquired a new stake in shares of Allient during the second quarter worth $6,813,000. Finally, Kornitzer Capital Management Inc. KS increased its holdings in Allient by 16.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 59,059 shares of the company’s stock valued at $6,591,000 after purchasing an additional 8,534 shares during the last quarter. 61.57% of the stock is owned by institutional investors.

About Allient

Allient Inc. designs and manufactures precision and specialty motion-control and power solutions. Its products include motors, gear motors, motion controllers, drives, encoders, actuators and integrated systems that help equipment move and operate with precision. The company serves a range of markets, including medical, aerospace and defense, industrial automation, robotics, transportation and energy. Allient operates internationally, with customers and operations across North America, Europe and Asia.