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Allient (NASDAQ:ALNT) Sets New 12-Month High - Here's What Happened

Allient logo with Computer and Technology background

Key Points

  • Allient Inc. (NASDAQ:ALNT) reached a new 52-week high at $40.67, having traded as high as $40.47 during the day.
  • Recent analyst activity saw Northland Capital Markets downgrade Allient's rating from "strong-buy" to "hold" and set a target price of $35.00.
  • The company reported quarterly earnings of $0.46 per share, exceeding estimates by $0.13, with revenues of $134.62 million compared to expectations of $125 million.
  • Five stocks we like better than Allient.

Allient Inc. (NASDAQ:ALNT - Get Free Report) shares hit a new 52-week high on Wednesday . The company traded as high as $40.47 and last traded at $40.67, with a volume of 14540 shares changing hands. The stock had previously closed at $39.96.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Northland Securities set a $35.00 target price on Allient in a report on Monday, May 5th. Northland Capmk downgraded Allient from a "strong-buy" rating to a "hold" rating in a report on Monday, May 5th.

View Our Latest Analysis on ALNT

Allient Trading Down 5.9%

The firm has a market cap of $642.49 million, a P/E ratio of 64.32 and a beta of 1.51. The company has a 50 day moving average of $35.91 and a 200 day moving average of $28.39. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.35 and a current ratio of 4.03.

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 the consensus estimate of $0.33 by $0.13. The business had revenue of $134.62 million during the quarter, compared to analysts' expectations of $125.00 million. Allient had a return on equity of 8.45% and a net margin of 1.90%. Analysts predict that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Allient's payout ratio is presently 20.34%.

Institutional Investors Weigh In On Allient

Large investors have recently made changes to their positions in the company. Nuveen LLC bought a new stake in Allient during the first quarter worth approximately $47,025,000. Vanguard Group Inc. boosted its position in Allient by 7.7% during the first quarter. Vanguard Group Inc. now owns 908,965 shares of the company's stock worth $19,979,000 after purchasing an additional 65,061 shares during the period. Juniper Investment Company LLC boosted its position in Allient by 14.6% during the fourth 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 during the period. Dimensional Fund Advisors LP boosted its position in Allient by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 702,254 shares of the company's stock worth $17,051,000 after purchasing an additional 3,326 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Allient by 1.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 450,279 shares of the company's stock worth $16,350,000 after purchasing an additional 7,944 shares during the period. Institutional investors own 61.57% of the company's stock.

About Allient

(Get Free Report)

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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