Allient (NASDAQ:ALNT) Sets New 12-Month High – Still a Buy?

Allient Inc. (NASDAQ:ALNT)’s stock price hit a new 52-week high on Wednesday . The company traded as high as $100.15 and last traded at $100.3980, with a volume of 94352 shares. The stock had previously closed at $96.03.

Analyst Ratings Changes

ALNT has been the topic of several research reports. Weiss Ratings cut Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Macquarie Infrastructure set a $80.00 price objective on Allient in a research note on Tuesday, May 26th. Wall Street Zen upgraded Allient from a “hold” rating to a “buy” rating in a report on Saturday, June 13th. Craig Hallum reaffirmed a “buy” rating and set a $75.00 target price on shares of Allient in a research report on Monday, March 9th. Finally, JPMorgan Chase & Co. raised Allient from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $65.00 to $80.00 in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Allient has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Allient Stock Performance

The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.67 billion, a PE ratio of 68.60 and a beta of 1.63. The firm’s 50-day simple moving average is $76.85 and its two-hundred day simple moving average is $66.74.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). The firm had revenue of $138.91 million for the quarter, compared to analyst estimates of $138.42 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. On average, equities research analysts expect that Allient Inc. will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. The ex-dividend date of this dividend was 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 yield of 0.2%. Allient’s payout ratio is presently 11.19%.

Institutional Inflows and Outflows

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