Allient (NASDAQ:ALNT) Reaches New 12-Month High Following Earnings Beat

Key Points

• Allient Inc. reached a new 52-week high of $48.22 after reporting a stronger than expected earnings per share (EPS) of $0.57, exceeding estimates by $0.09.
• The company also announced a quarterly dividend of $0.03 payable on September 4th, representing a dividend yield of 0.3%.
• Institutional investors have increased their stakes in Allient, with Cullen Frost Bankers Inc. raising its position by 173% during the second quarter.

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s share price hit a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $48.22 and last traded at $45.85, with a volume of 42740 shares. The stock had previously closed at $40.11.

The company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.09. Allient had a return on equity of 9.97% and a net margin of 2.75%. The company had revenue of $139.58 million during the quarter, compared to the consensus estimate of $132.89 million.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Thursday, August 21st. Allient's dividend payout ratio is 13.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ALNT. Northland Capmk cut 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 objective on Allient in a report on Monday, May 5th.

Institutional Trading of Allient

A number of hedge funds and other institutional investors have recently modified their holdings of ALNT. Copeland Capital Management LLC grew its holdings in shares of Allient by 16.4% during the second quarter. Copeland Capital Management LLC now owns 2,561 shares of the company's stock valued at $93,000 after buying an additional 360 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Allient by 4.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,346 shares of the company's stock worth $203,000 after acquiring an additional 380 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Allient by 0.3% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 192,048 shares of the company's stock worth $4,221,000 after acquiring an additional 511 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Allient by 2.9% during the 1st quarter. Deutsche Bank AG now owns 18,221 shares of the company's stock worth $400,000 after acquiring an additional 520 shares in the last quarter. Finally, Aviso Financial Inc. lifted its position in shares of Allient by 1.8% during the 1st quarter. Aviso Financial Inc. now owns 34,420 shares of the company's stock worth $757,000 after purchasing an additional 620 shares during the last quarter. Institutional investors own 61.57% of the company's stock.

Allient Stock Up 3.8%

The firm has a 50-day moving average of $37.07 and a two-hundred day moving average of $29.04. 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 firm has a market cap of $738.19 million, a price-to-earnings ratio of 50.76 and a beta of 1.52.

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.