Allient (NASDAQ:ALNT) Reaches New 12-Month High – Time to Buy?

Shares of Allient Inc. (NASDAQ:ALNT) reached a new 52-week high on Friday. The stock 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 Ratings Changes

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

Allient Stock Performance

The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The company has a market cap of $2.03 billion, a PE ratio of 69.89 and a beta of 1.58. The business’s fifty day moving average is $99.66 and its 200-day moving average is $85.11.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. Allient had a net margin of 4.98% and a return on equity of 13.55%. The business had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. As a group, research analysts predict that Allient Inc. will post 2.73 EPS for the current fiscal year.

Allient Dividend Announcement

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

Insider Activity at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the firm’s 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 transaction, the chief executive officer directly owned 1,499,106 shares of the company’s stock, valued at approximately $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 can be accessed through this link. 15.00% of the stock is owned by company insiders.

Institutional Trading of Allient

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in Allient in the second quarter worth about $25,000. Kilter Group LLC purchased a new position in shares of Allient during the 2nd quarter valued at about $37,000. Dunhill Financial LLC purchased a new position in shares of Allient during the 2nd quarter valued at about $226,000. EverSource Wealth Advisors LLC grew its stake in shares of Allient by 5,102.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,289 shares of the company’s stock valued at $135,000 after acquiring an additional 2,245 shares during the period. Finally, State of Wyoming bought a new position in shares of Allient during the 2nd quarter valued at approximately $244,000. Institutional investors own 61.57% of the company’s stock.

Allient Company Profile

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.