Allient (NASDAQ:ALNT) Hits New 12-Month High - Here's Why

Key Points

• Allient Inc. (NASDAQ:ALNT) reached a new 52-week high of $48.56, closing at $47.87 with a trading volume of 409,493 shares.
• The company reported a quarterly earnings per share (EPS) of $0.57, exceeding the analysts' consensus estimate by $0.09.
• Allient recently declared a quarterly dividend of $0.03, representing an annualized dividend yield of 0.3%.

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $48.56 and last traded at $47.87, with a volume of 409493 shares. The stock had previously closed at $44.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Allient in a research report on Wednesday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $35.00.

Allient Price Performance

The business has a fifty day moving average price of $44.63 and a 200-day moving average price of $35.15. The company has a current ratio of 3.74, a quick ratio of 2.17 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $811.40 million, a PE ratio of 55.66 and a beta of 1.51.

Allient (NASDAQ:ALNT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.09. Allient had a return on equity of 9.97% and a net margin of 2.75%.The firm had revenue of $139.58 million during the quarter, compared to analysts' expectations of $132.89 million. Research analysts expect that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Thursday, August 21st. Allient's dividend payout ratio is presently 13.95%.

Hedge Funds Weigh In On Allient

A number of hedge funds and other institutional investors have recently modified their holdings of ALNT. Cullen Frost Bankers Inc. boosted its holdings in Allient by 173.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company's stock valued at $36,000 after acquiring an additional 633 shares during the period. CWM LLC boosted its holdings in Allient by 105.2% during the 1st quarter. CWM LLC now owns 1,890 shares of the company's stock valued at $42,000 after acquiring an additional 969 shares during the period. GAMMA Investing LLC purchased a new stake in Allient during the 1st quarter valued at about $60,000. Tower Research Capital LLC TRC boosted its holdings in Allient by 162.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company's stock valued at $80,000 after acquiring an additional 1,355 shares during the period. Finally, Copeland Capital Management LLC boosted its holdings in Allient by 16.4% during the 2nd quarter. Copeland Capital Management LLC now owns 2,561 shares of the company's stock valued at $93,000 after acquiring an additional 360 shares during the period. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

Allient Company Profile

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.

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