Allient (NASDAQ:ALNT) Hits New 52-Week High - Here's What Happened

Allient Inc. (NASDAQ:ALNT - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as $40.39 and last traded at $39.76, with a volume of 161271 shares. The stock had previously closed at $39.50.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ALNT shares. Northland Capmk lowered Allient from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 5th. Northland Securities set a $35.00 price target on Allient in a research report on Monday, May 5th.

Allient Trading Down 1.3%

The firm has a 50-day moving average of $34.94 and a 200-day moving average of $27.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.35 and a current ratio of 4.03. The firm has a market capitalization of $670.85 million, a P/E ratio of 67.16 and a beta of 1.51.

Allient (NASDAQ:ALNT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.13. Allient had a return on equity of 8.45% and a net margin of 1.90%. The business had revenue of $134.62 million for the quarter, compared to analyst estimates of $125.00 million. On average, equities research analysts anticipate that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend was Thursday, May 22nd. Allient's dividend payout ratio (DPR) is currently 20.34%.

Institutional Investors Weigh In On Allient

Institutional investors and hedge funds have recently bought and sold shares of the business. Nuveen LLC bought a new position in Allient in the 1st quarter worth $47,025,000. Arrowstreet Capital Limited Partnership bought a new position in Allient in the 4th quarter worth $7,268,000. Seizert Capital Partners LLC bought a new position in Allient in the 1st quarter worth $3,312,000. Juniper Investment Company LLC raised its holdings in Allient by 14.6% in the 4th quarter. Juniper Investment Company LLC now owns 869,149 shares of the company's stock worth $21,103,000 after purchasing an additional 110,497 shares in the last quarter. Finally, Zacks Investment Management bought a new position in Allient in the 4th quarter worth $2,443,000. Hedge funds and other institutional investors own 61.57% of the company's stock.

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.