Allient (NASDAQ:ALNT) CEO Sells $7,950,600.00 in Stock

Allient Inc. (NASDAQ:ALNT) CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Allient Trading Up 1.6%

Shares of ALNT opened at $111.41 on Friday. The company has a current ratio of 3.42, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average is $93.83 and its two-hundred day moving average is $76.48. Allient Inc. has a twelve month low of $41.75 and a twelve month high of $118.67. The firm has a market capitalization of $1.89 billion, a P/E ratio of 65.54 and a beta of 1.61.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. On average, research analysts predict that Allient Inc. will post 2.72 earnings per share for the current fiscal year.

Allient Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ALNT shares. Macquarie Infrastructure set a $80.00 price target on Allient in a research report on Tuesday, May 26th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research note on Tuesday, May 26th. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Roth Capital restated a “buy” rating and set a $70.00 target price on shares of Allient in a research report on Friday, May 8th. Finally, Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $84.00.

Institutional Trading of Allient

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Allient in the 2nd quarter valued at about $128,774,000. Jennison Associates LLC grew its holdings in shares of Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after buying an additional 186,316 shares in the last quarter. Telemark Asset Management LLC acquired a new position in shares of Allient in the fourth quarter valued at approximately $8,062,000. Marshall Wace LLP raised its position in shares of Allient by 1,291.3% in the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after buying an additional 142,763 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Allient by 95.6% during the fourth quarter. Handelsbanken Fonder AB now owns 257,323 shares of the company’s stock valued at $13,831,000 after buying an additional 125,753 shares during the period. 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.