Allient (NASDAQ:ALNT) Lowered to Hold Rating by Northland Capmk

Northland Capmk lowered shares of Allient (NASDAQ:ALNT - Free Report) from a strong-buy rating to a hold rating in a research report sent to investors on Monday,Zacks.com reports.

Separately, Northland Securities lowered Allient from an "outperform" rating to a "market perform" rating in a report on Monday.

Allient Price Performance

NASDAQ:ALNT traded up $2.12 during trading hours on Monday, reaching $28.98. The stock had a trading volume of 244,343 shares, compared to its average volume of 115,211. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10. The stock has a market capitalization of $491.15 million, a PE ratio of 32.93 and a beta of 1.39. Allient has a 52 week low of $16.91 and a 52 week high of $30.94. The company has a 50 day moving average price of $22.25 and a two-hundred day moving average price of $23.58.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Allient had a net margin of 2.64% and a return on equity of 10.80%. The firm had revenue of $134.62 million during the quarter, compared to the consensus estimate of $125.00 million. As a group, sell-side analysts anticipate that Allient will post 1.43 earnings per share for the current fiscal year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.41%. The ex-dividend date is Thursday, May 22nd. Allient's dividend payout ratio (DPR) is presently 15.00%.

Institutional Trading of Allient

A number of large investors have recently made changes to their positions in ALNT. Barclays PLC lifted its holdings in Allient by 61.2% during the 3rd quarter. Barclays PLC now owns 45,362 shares of the company's stock valued at $862,000 after buying an additional 17,216 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Allient by 74.7% in the third quarter. Franklin Resources Inc. now owns 28,034 shares of the company's stock valued at $516,000 after purchasing an additional 11,986 shares during the period. JPMorgan Chase & Co. increased its holdings in Allient by 71.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 89,004 shares of the company's stock worth $1,690,000 after purchasing an additional 37,151 shares during the period. Empowered Funds LLC raised its position in Allient by 5.0% during the 4th quarter. Empowered Funds LLC now owns 42,586 shares of the company's stock valued at $1,034,000 after purchasing an additional 2,040 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Allient by 23,963.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company's stock worth $9,948,000 after buying an additional 404,505 shares during the period. 61.57% of the stock is owned by hedge funds and other institutional investors.

About Allient

Allient Inc, together with its subsidiaries, designs, manufactures, and sells precision and specialty controlled motion components and systems for various industries in the United States, Canada, South America, Europe, and Asia-Pacific. It offers brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gearmotors, gearing, modular digital servo drives, motion controllers, optical encoders, active and passive filters, input/output modules, industrial communications gateways, light-weighting technologies, and other controlled motion-related products, as well as nano precision positioning systems, servo control systems, and digital servo amplifiers and drives.