Allient (NASDAQ:ALNT) Sets New 52-Week High - Here's What Happened

Key Points

• Allient shares hit a new 52-week high of $121.42, closing around $118.83—up 2.8% from the prior close. The stock’s market capitalization reached approximately $2.03 billion.
• Analyst sentiment remains positive overall, with an average “Buy” rating and a consensus price target of $84, although recent recommendations have been mixed. JPMorgan raised its target to $120, while other firms issued downgrades or more cautious ratings.
• Allient exceeded quarterly expectations, reporting $0.80 in EPS versus the $0.61 consensus and revenue of $153.77 million versus estimates of $145.68 million. Institutional ownership stands at 61.57%, while CEO Richard Warzala recently sold 70,000 shares.

Allient Inc. (NASDAQ:ALNT - Get Free Report)'s share price reached a new 52-week high on Friday. The company traded as high as $121.42 and last traded at $118.83, with a volume of 20537 shares. The stock had previously closed at $115.95.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALNT. JPMorgan Chase & Co. upped their price target on Allient from $95.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Weiss Ratings cut Allient from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, September 21st. Wall Street Zen downgraded Allient from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 19th. Finally, Zacks Research raised Allient from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $84.00.

Allient Stock Up 2.8%

The stock's 50 day simple moving average is $99.66 and its two-hundred day simple moving average is $85.11. The firm has a market cap of $2.03 billion, a P/E ratio of 69.89 and a beta of 1.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95.

Allient (NASDAQ:ALNT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.19. The firm had revenue of $153.77 million during the quarter, compared to analyst estimates of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. As a group, research analysts forecast that Allient Inc. will post 2.73 earnings per share for the current year.

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were paid a dividend of $0.04 per share. The ex-dividend date was Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a yield of 0.1%. Allient's payout ratio is presently 9.41%.

Insider Buying and Selling

In other news, CEO Richard Warzala sold 70,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.58, for a total value of $7,950,600.00. Following the sale, the chief executive officer directly owned 1,499,106 shares of the company's stock, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 15.00% of the company's stock.

Institutional Trading of Allient

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Allient in the second quarter worth about $128,774,000. Jennison Associates LLC increased its position in shares of Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company's stock valued at $20,884,000 after acquiring an additional 186,316 shares in the last quarter. Telemark Asset Management LLC bought a new stake in shares of Allient during the fourth quarter valued at approximately $8,062,000. Bank of New York Mellon Corp purchased a new position in Allient in the 2nd quarter worth approximately $9,051,000. Finally, Deutsche Bank AG bought a new position in Allient in the 2nd quarter valued at approximately $6,813,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

About Allient

Allient Inc NASDAQ: ALNT is a global manufacturer of precision and specialty motion-control products. The company designs and produces motors, motion controllers, drives, servo systems, electromechanical assemblies, and related components used to control movement and power in complex equipment.

Allient serves a range of markets, including medical equipment, aerospace and defense, industrial automation, robotics, vehicle systems, and other demanding applications. Its products are used in areas such as surgical and diagnostic equipment, factory automation, unmanned systems, and precision machinery.

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