Allient (NASDAQ:ALNT) Sets New 1-Year High - Here's What Happened

Key Points

• 52-week high: Allient's stock hit a new 52-week high of $75.71 (last trade $75.72) on Friday, with about 31,115 shares trading and a prior close of $73.40.
• Analyst mix and consensus: Analysts are mixed (three Buy, four Hold), leaving a MarketBeat consensus rating of "Hold" and an average target price of $63.60, though individual targets range as high as $79.00.
• Earnings beat and dividend: Allient reported Q results beating expectations (EPS $0.55 vs. $0.46; revenue $143.35M vs. $133.33M) and declared a small quarterly dividend that annualizes to a ~0.2% yield.

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $75.71 and last traded at $75.72, with a volume of 31115 shares. The stock had previously closed at $73.40.

Analysts Set New Price Targets

Several equities research analysts have commented on ALNT shares. Lake Street Capital started coverage on shares of Allient in a report on Wednesday, February 18th. They issued a "buy" rating and a $79.00 price target on the stock. Zacks Research cut Allient from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 1st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Allient in a report on Wednesday, January 21st. Roth Mkm lifted their price target on Allient from $56.00 to $69.00 and gave the company a "buy" rating in a research report on Monday, March 16th. Finally, Craig Hallum reissued a "buy" rating and issued a $75.00 price target on shares of Allient in a report on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.60.

Allient Stock Up 1.6%

The company has a debt-to-equity ratio of 0.60, a current ratio of 3.66 and a quick ratio of 2.08. The business's fifty day simple moving average is $65.46 and its two-hundred day simple moving average is $59.05. The company has a market cap of $1.27 billion, a PE ratio of 56.69 and a beta of 1.53.

Allient (NASDAQ:ALNT - Get Free Report) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.55 earnings per share for the quarter, topping analysts' consensus estimates of $0.46 by $0.09. Allient had a net margin of 3.97% and a return on equity of 12.53%. The business had revenue of $143.35 million during the quarter, compared to the consensus estimate of $133.33 million. On average, analysts predict that Allient Inc. will post 2.58 earnings per share for the current year.

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 20th were given a dividend of $0.03 per share. The ex-dividend date was Friday, March 20th. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Allient's dividend payout ratio is currently 9.09%.

Institutional Trading of Allient

A number of institutional investors and hedge funds have recently made changes to their positions in ALNT. Arax Advisory Partners lifted its position in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company's stock valued at $27,000 after buying an additional 263 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Allient in the 3rd quarter worth $34,000. Larson Financial Group LLC increased its holdings in Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $37,000 after acquiring an additional 413 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Allient during the third quarter worth $41,000. Finally, New York State Teachers Retirement System purchased a new position in Allient during the third quarter valued at $58,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.

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