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

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s stock price reached a new 52-week high on Monday . The company traded as high as $30.26 and last traded at $29.91, with a volume of 109042 shares. The stock had previously closed at $28.76.

Analysts Set New Price Targets

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

Allient Stock Up 1.4%

The company has a market capitalization of $541.22 million, a PE ratio of 36.57 and a beta of 1.39. The company has a quick ratio of 2.18, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average of $22.77 and a two-hundred day moving average of $23.94.

Allient (NASDAQ:ALNT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.13. The business had revenue of $134.62 million for the quarter, compared to analyst estimates of $125.00 million. Allient had a return on equity of 10.80% and a net margin of 2.64%. Equities research analysts predict that Allient Inc. will post 1.43 earnings per share for the current fiscal year.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend is Thursday, May 22nd. Allient's dividend payout ratio is presently 20.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System purchased a new stake in Allient in the 4th quarter valued at approximately $32,000. Hurley Capital LLC purchased a new stake in Allient during the fourth quarter valued at about $38,000. Public Employees Retirement System of Ohio acquired a new stake in Allient during the 4th quarter worth approximately $41,000. CWM LLC raised its stake in shares of Allient by 105.2% in the 1st quarter. CWM LLC now owns 1,890 shares of the company's stock valued at $42,000 after acquiring an additional 969 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of Allient during the first quarter worth about $60,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.