Allient (NASDAQ:ALNT) Reaches New 12-Month High on 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) hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $48.22 and last traded at $45.85, with a volume of 42740 shares traded. The stock had previously closed at $40.11.

The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.09. The firm had revenue of $139.58 million during the quarter, compared to analysts' expectations of $132.89 million. Allient had a net margin of 2.75% and a return on equity of 9.97%.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given 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 of this dividend is Thursday, August 21st. Allient's payout ratio is presently 13.95%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ALNT shares. Northland Securities set a $35.00 price objective on shares of Allient in a report on Monday, May 5th. Northland Capmk downgraded shares of Allient from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Nuveen LLC bought a new position in Allient during the 1st quarter worth approximately $47,025,000. Vanguard Group Inc. increased its holdings in shares of Allient by 7.7% during the first quarter. Vanguard Group Inc. now owns 908,965 shares of the company's stock valued at $19,979,000 after acquiring an additional 65,061 shares in the last quarter. Juniper Investment Company LLC increased its stake in Allient by 14.6% during the 4th quarter. Juniper Investment Company LLC now owns 869,149 shares of the company's stock valued at $21,103,000 after purchasing an additional 110,497 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Allient by 0.5% during the 4th 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 buying an additional 7,944 shares in the last quarter. 61.57% of the stock is owned by institutional investors.

Allient Stock Performance

The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.35 and a current ratio of 3.74. The company's 50 day moving average price is $37.07 and its 200-day moving average price is $29.03. The stock has a market cap of $711.06 million, a P/E ratio of 48.84 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.