Allient (NASDAQ:ALNT) Sets New 52-Week High on Strong Earnings

Key Points

• Allient shares surged 17.4% to a new 52-week high of $108.63 after the company reported quarterly earnings of $0.80 per share, exceeding estimates of $0.61, while revenue of $153.77 million also topped expectations.
• The company declared a quarterly dividend of $0.04 per share, equivalent to $0.16 annually and a 0.1% yield, with an 11.19% payout ratio.
• Analysts maintain a “Moderate Buy” consensus based on four Buy and two Hold ratings, although the consensus price target of $79.83 is below the current share price; institutional investors own 61.57% of the stock.

Allient Inc. (NASDAQ:ALNT - Get Free Report) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $108.63 and last traded at $108.5390, with a volume of 45214 shares traded. The stock had previously closed at $93.25.

The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19. Allient had a return on equity of 12.47% and a net margin of 4.25%.The firm had revenue of $153.77 million during the quarter, compared to analysts' expectations of $145.68 million.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 19th. Allient's dividend payout ratio (DPR) is 11.19%.

Analysts Set New Price Targets

ALNT has been the subject of several recent research reports. Wall Street Zen downgraded Allient from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Roth Capital reiterated a "buy" rating and set a $70.00 target price on shares of Allient in a research report on Friday, May 8th. Weiss Ratings raised Allient from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. Macquarie Infrastructure set a $80.00 price target on Allient in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. upped their price objective on Allient from $80.00 to $95.00 and gave the stock an "overweight" rating in a report on Monday, July 13th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $79.83.

Institutional Investors Weigh In On Allient

Large investors have recently added to or reduced their stakes in the company. Arax Advisory Partners grew its stake in shares of Allient by 113.9% during the fourth quarter. Arax Advisory Partners now owns 494 shares of the company's stock valued at $27,000 after acquiring an additional 263 shares in the last quarter. Advisory Services Network LLC purchased a new position in Allient in the third quarter valued at about $34,000. Larson Financial Group LLC grew its position in shares of Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $37,000 after buying an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company's stock valued at $62,000 after purchasing an additional 209 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Allient in the 4th quarter valued at about $67,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Stock Up 17.4%

The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15. The firm has a market cap of $1.86 billion, a P/E ratio of 76.55 and a beta of 1.61. The firm's 50-day moving average price is $89.77 and its 200 day moving average price is $74.11.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source