Allient (NASDAQ:ALNT) Sets New 12-Month High - Here's What Happened

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The company traded as high as $33.12 and last traded at $32.92, with a volume of 51039 shares traded. The stock had previously closed at $31.90.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALNT. Northland Securities set a $35.00 price target on Allient in a research report 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 Performance

The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85. The firm's 50-day moving average is $25.48 and its two-hundred day moving average is $25.13. The stock has a market cap of $567.80 million, a price-to-earnings ratio of 37.95 and a beta of 1.47.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.33 by $0.13. Allient had a return on equity of 10.80% and a net margin of 2.64%. The firm had revenue of $134.62 million during the quarter, compared to the consensus estimate of $125.00 million. As a group, sell-side analysts expect that Allient Inc. will post 1.43 earnings per share for the current year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 22nd were given 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 0.36%. Allient's payout ratio is currently 20.34%.

Hedge Funds Weigh In On Allient

Large investors have recently modified their holdings of the business. Empowered Funds LLC boosted its position in shares of Allient by 5.0% during the 4th quarter. Empowered Funds LLC now owns 42,586 shares of the company's stock worth $1,034,000 after purchasing an additional 2,040 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Allient by 23,963.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company's stock valued at $9,948,000 after purchasing an additional 404,505 shares in the last quarter. White Pine Capital LLC purchased a new stake in Allient during the fourth quarter worth $407,000. New York State Teachers Retirement System purchased a new position in shares of Allient in the fourth quarter valued at $32,000. Finally, Nkcfo LLC purchased a new position in shares of Allient during the 4th quarter worth approximately $364,000. 61.57% of the stock is 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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