Allient (NASDAQ:ALNT) Hits New 12-Month High - Should You Buy?

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $35.57 and last traded at $35.39, with a volume of 15234 shares changing hands. The stock had previously closed at $34.61.

Wall Street Analysts Forecast Growth

ALNT has been the topic of a number of research analyst reports. Northland Securities set a $35.00 target price on Allient in a research 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.

Allient Trading Down 0.4%

The company has a debt-to-equity ratio of 0.81, a current ratio of 4.03 and a quick ratio of 2.35. The firm has a market cap of $608.53 million, a PE ratio of 60.92 and a beta of 1.47. The company's 50 day moving average price is $29.28 and its 200 day moving average price is $25.97.

Allient (NASDAQ:ALNT - Get Free Report) last issued 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. Allient had a net margin of 1.90% and a return on equity of 8.45%. The company had revenue of $134.62 million during the quarter, compared to analysts' expectations of $125.00 million. As a group, analysts forecast that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, May 22nd. This represents a $0.12 annualized dividend and a yield of 0.33%. Allient's payout ratio is 20.34%.

Institutional Investors Weigh In On Allient

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of Allient by 18.2% during the fourth quarter. Bank of New York Mellon Corp now owns 115,095 shares of the company's stock worth $2,794,000 after buying an additional 17,739 shares during the period. Mission Wealth Management LP acquired a new position in Allient during the 4th quarter worth approximately $349,000. Charles Schwab Investment Management Inc. increased its holdings in Allient by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 72,179 shares of the company's stock valued at $1,753,000 after buying an additional 1,779 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Allient in the fourth quarter valued at $805,000. Finally, AlphaQuest LLC raised its stake in Allient by 283.4% in the fourth quarter. AlphaQuest LLC now owns 9,889 shares of the company's stock valued at $240,000 after buying an additional 7,310 shares in the last quarter. Institutional investors and hedge funds own 61.57% of the company's stock.

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.