Allient (NASDAQ:ALNT) Stock Price Up 8.2% - Time to Buy?

Key Points

• Allient Inc. stock rose 8.2% to $48.17, with trading volume down 14% from average daily levels.
• Analysts maintain an average rating of "Hold" for Allient, with a price target of $35.00.
• The company recently distributed a quarterly dividend of $0.03 per share, establishing a 0.3% yield with a low dividend payout ratio of 13.95%.

Allient Inc. (NASDAQ:ALNT - Get Free Report) rose 8.2% during mid-day trading on Thursday . The stock traded as high as $47.50 and last traded at $48.17. Approximately 107,524 shares were traded during trading, a decline of 14% from the average daily volume of 124,881 shares. The stock had previously closed at $44.52.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Allient in a research report on Wednesday. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, Allient currently has an average rating of "Hold" and an average price target of $35.00.

Allient Stock Performance

The company has a market cap of $811.40 million, a price-to-earnings ratio of 55.66 and a beta of 1.51. The company has a current ratio of 3.74, a quick ratio of 2.17 and a debt-to-equity ratio of 0.70. The stock's fifty day simple moving average is $44.63 and its 200 day simple moving average is $35.15.

Allient (NASDAQ:ALNT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.09. The business had revenue of $139.58 million during the quarter, compared to the consensus estimate of $132.89 million. Allient had a return on equity of 9.97% and a net margin of 2.75%. As a group, analysts anticipate that Allient Inc. will post 1.43 earnings per share for the current year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.3%. The ex-dividend date was Thursday, August 21st. Allient's dividend payout ratio (DPR) is 13.95%.

Hedge Funds Weigh In On Allient

Several institutional investors have recently modified their holdings of the business. Cullen Frost Bankers Inc. grew its position in shares of Allient by 173.0% during the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company's stock worth $36,000 after buying an additional 633 shares in the last quarter. CWM LLC grew its holdings in Allient by 105.2% during the 1st quarter. CWM LLC now owns 1,890 shares of the company's stock worth $42,000 after acquiring an additional 969 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Allient by 162.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company's stock worth $80,000 after acquiring an additional 1,355 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Allient by 16.4% during the 2nd quarter. Copeland Capital Management LLC now owns 2,561 shares of the company's stock worth $93,000 after acquiring an additional 360 shares in the last quarter. Finally, State of Wyoming acquired a new position in Allient during the 2nd quarter worth approximately $93,000. Institutional investors and hedge funds own 61.57% of the company's stock.

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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