Allient (NASDAQ:ALNT) Shares Gap Down After Earnings Miss

Key Points

• Shares gapped down about 14.9% after Allient reported an EPS of $0.50 versus the $0.55 consensus (a $0.05 miss); revenue was essentially in line at $138.92 million and the stock opened at $65.62 from a $77.52 close (last ~$63.36).
• Dividend increased to $0.04 quarterly (from $0.03), a $0.16 annualized payout with a 0.2% yield and a 9.09% payout ratio; the ex-dividend/record/payment dates are May 21 (ex/record) and June 4 (payment).
• Analysts are split (three Buy, three Hold) giving a consensus rating of Moderate Buy and a $70.75 target; Allient has a $1.12 billion market cap and a trailing P/E of 48.65.

Shares of Allient Inc. (NASDAQ:ALNT - Get Free Report) gapped down prior to trading on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $77.52, but opened at $65.62. Allient shares last traded at $63.3550, with a volume of 98,648 shares changing hands.

The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a return on equity of 12.53% and a net margin of 3.97%.The business had revenue of $138.92 million during the quarter, compared to analyst estimates of $138.42 million.

Allient Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, May 21st. This is a positive change from Allient's previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. Allient's dividend payout ratio (DPR) is 9.09%.

Analyst Ratings Changes

Several research firms have recently weighed in on ALNT. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Allient in a report on Wednesday, January 21st. Lake Street Capital began coverage on shares of Allient in a report on Wednesday, February 18th. They set a "buy" rating and a $79.00 price objective for the company. Craig Hallum reaffirmed a "buy" rating and set a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Finally, Roth Mkm increased their price target on shares of Allient from $56.00 to $69.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Allient presently has an average rating of "Moderate Buy" and a consensus target price of $70.75.

Hedge Funds Weigh In On Allient

Hedge funds and other institutional investors have recently bought and sold shares of the business. Arax Advisory Partners boosted its stake in Allient by 113.9% in 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 during the last quarter. Advisory Services Network LLC bought a new position in Allient in the third quarter valued at approximately $34,000. Larson Financial Group LLC boosted its stake in Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company's stock valued at $37,000 after acquiring an additional 413 shares during the last quarter. State of Alaska Department of Revenue bought a new position in Allient in the third quarter valued at approximately $41,000. Finally, New York State Teachers Retirement System acquired a new stake in Allient in the third quarter worth $58,000. 61.57% of the stock is owned by institutional investors.

Allient Trading Down 14.9%

The company's fifty day simple moving average is $66.68 and its two-hundred day simple moving average is $60.60. The company has a quick ratio of 2.08, a current ratio of 3.66 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 48.65 and a beta of 1.65.

Allient Company Profile

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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