Allient (NASDAQ:ALNT) Sees Strong Trading Volume - Time to Buy?

Key Points

• Allient shares rose to $88.13 on unusually high midday trading volume, although volume declined 24% from the prior session.
• Analyst sentiment remains generally positive, with four Buy ratings and two Holds producing a “Moderate Buy” consensus; however, the $79.83 average price target is below the current share price.
• Allient reported quarterly EPS of $0.50, missing estimates, while revenue slightly exceeded expectations. The company also raised its quarterly dividend to $0.04 per share, for an annualized yield of 0.2%.

Allient Inc. (NASDAQ:ALNT - Get Free Report) saw unusually-high trading volume on Monday . 163,767 shares changed hands during mid-day trading, a decline of 24% from the previous session's volume of 215,165 shares.The stock last traded at $88.13 and had previously closed at $86.78.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a report on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 target price on Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price target on Allient from $80.00 to $95.00 and gave the stock an "overweight" rating in a research report on Monday, July 13th. Wall Street Zen downgraded Allient from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Finally, Weiss Ratings downgraded Allient from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 17th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.83.

Allient Stock Performance

The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average price is $86.19 and its two-hundred day moving average price is $72.52. The stock has a market capitalization of $1.43 billion, a PE ratio of 58.87 and a beta of 1.59.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The firm had revenue of $138.91 million for the quarter, compared to analysts' expectations of $138.42 million. As a group, equities research analysts forecast that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.04 per share. This is a boost from Allient's previous quarterly dividend of $0.03. The ex-dividend date was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient's payout ratio is 11.19%.

Hedge Funds Weigh In On Allient

A number of hedge funds have recently made changes to their positions in ALNT. Tudor Investment Corp ET AL purchased a new stake in Allient in the 3rd quarter valued at $3,196,000. Tulsa Wealth Advisors INC acquired a new stake in Allient during the fourth quarter worth about $659,000. Jennison Associates LLC purchased a new position in Allient during the fourth quarter worth about $8,982,000. Ellsworth Advisors LLC purchased a new stake in shares of Allient in the 4th quarter valued at approximately $841,000. Finally, Vanguard Group Inc. increased its holdings in shares of Allient by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company's stock worth $54,355,000 after buying an additional 26,438 shares during 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.