Allient (NASDAQ:ALNT) Stock Falls 10.4% – Here’s Why

Allient Inc. (NASDAQ:ALNT)’s share price dropped 10.4% during mid-day trading on Thursday. The stock traded as low as $89.40 and last traded at $87.30. Approximately 45,890 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 223,067 shares. The stock had previously closed at $97.46.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALNT. Zacks Research cut shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. JPMorgan Chase & Co. lowered shares of Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Tuesday, October 13th. Wall Street Zen cut shares of Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. Finally, Weiss Ratings raised shares of Allient from a “hold (c+)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Allient Stock Down 11.6%

The stock has a 50 day simple moving average of $102.02 and a 200-day simple moving average of $89.34. The firm has a market cap of $1.47 billion, a PE ratio of 50.69 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) last released its earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.61 by $0.19. Allient had a return on equity of 13.55% and a net margin of 4.98%. The business had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. Sell-side analysts predict that Allient Inc. will post 2.72 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a $0.04 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s payout ratio is presently 9.41%.

Insider Transactions at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.00% of the stock is currently owned by insiders.

Institutional Trading of Allient

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its stake in Allient by 51.6% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,851 shares of the company’s stock valued at $207,000 after purchasing an additional 630 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Allient by 29.3% in the third quarter. GAMMA Investing LLC now owns 485 shares of the company’s stock worth $54,000 after purchasing an additional 110 shares during the last quarter. Whalen Wealth Management Inc. purchased a new position in shares of Allient in the third quarter worth $235,000. Tidal Investments LLC purchased a new position in shares of Allient in the second quarter worth $280,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Allient during the second quarter valued at $721,000. 61.57% of the stock is currently owned by institutional investors.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.