Allient (NASDAQ:ALNT) Sets New 12-Month High - What's Next?

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s share price reached 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.

Wall Street Analysts Forecast Growth

ALNT has been the subject of several analyst reports. Northland Capmk cut shares of Allient from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th. Northland Securities set a $35.00 price target on Allient in a research note on Monday, May 5th.

Allient Stock Up 3.7%

The stock has a 50-day moving average of $30.22 and a 200 day moving average of $26.17. 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 company has a market cap of $644.53 million, a P/E ratio of 64.53 and a beta of 1.51.

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 analysts' consensus estimates of $0.33 by $0.13. The company 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%. Research analysts anticipate that Allient Inc. will post 1.43 earnings per share for the current year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.32%. The ex-dividend date was Thursday, May 22nd. Allient's dividend payout ratio is currently 20.34%.

Hedge Funds Weigh In On Allient

A number of hedge funds and other institutional investors have recently made changes to their positions in ALNT. Hurley Capital LLC acquired a new position in Allient in the fourth quarter valued at $38,000. Public Employees Retirement System of Ohio bought a new stake in Allient during the 4th quarter valued at $41,000. CWM LLC raised its holdings in shares of Allient by 105.2% in the 1st quarter. CWM LLC now owns 1,890 shares of the company's stock worth $42,000 after acquiring an additional 969 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Allient in the first quarter valued at approximately $60,000. Finally, Globeflex Capital L P purchased a new position in Allient during the 4th quarter worth $118,000. 61.57% of the stock is owned by institutional investors and hedge funds.

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.