Allient (NASDAQ:ALNT) Reaches New 52-Week High - Time to Buy?

Shares of Allient Inc. (NASDAQ:ALNT - Get Free Report) hit a new 52-week high during trading on Monday . The company traded as high as $36.81 and last traded at $36.48, with a volume of 101666 shares. The stock had previously closed at $35.92.

Analysts Set New Price Targets

ALNT has been the subject of a number of analyst reports. Northland Securities set a $35.00 price objective on shares of 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 Up 1.8%

The firm has a market cap of $656.21 million, a P/E ratio of 65.70 and a beta of 1.51. The company has a quick ratio of 2.35, a current ratio of 4.03 and a debt-to-equity ratio of 0.81. The business's 50 day moving average is $30.56 and its 200-day moving average is $26.25.

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

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were paid a $0.03 dividend. The ex-dividend date was Thursday, May 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.31%. Allient's payout ratio is currently 20.34%.

Institutional Trading of Allient

Several hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in Allient by 18.2% during the 4th 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 last quarter. Mission Wealth Management LP bought a new position in shares of Allient during the fourth quarter worth about $349,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Allient by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 72,179 shares of the company's stock worth $1,753,000 after acquiring an additional 1,779 shares during the period. Raymond James Financial Inc. bought a new stake in Allient in the 4th quarter valued at about $805,000. Finally, AlphaQuest LLC boosted its stake in Allient by 283.4% during the 4th quarter. AlphaQuest LLC now owns 9,889 shares of the company's stock valued at $240,000 after purchasing an additional 7,310 shares during the period. 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.