Allient (NASDAQ:ALNT) Shares Down 8.2% – What’s Next?

Allient Inc. (NASDAQ:ALNT) shares fell 8.2% during mid-day trading on Friday. The company traded as low as $77.90 and last traded at $77.5150. Approximately 113,207 shares traded hands during mid-day trading, a decline of 50% from the average session volume of 225,029 shares. The stock had previously closed at $84.40.

Analyst Ratings Changes

Several equities analysts have commented on ALNT shares. JPMorgan Chase & Co. dropped their target price on Allient from $120.00 to $110.00 and set a “neutral” rating for the company in a research report on Friday, November 6th. Wall Street Zen upgraded Allient from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 7th. Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, November 9th. Finally, Weiss Ratings downgraded Allient from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $82.33.

Allient Price Performance

The business has a 50-day simple moving average of $97.99 and a 200 day simple moving average of $83.42. The stock has a market cap of $1.32 billion, a P/E ratio of 34.99 and a beta of 1.62. The company has a current ratio of 3.49, a quick ratio of 1.99 and a debt-to-equity ratio of 0.53.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.33. Allient had a return on equity of 15.80% and a net margin of 6.24%. The company had revenue of $164.40 million during the quarter, compared to analysts’ expectations of $155.25 million. On average, analysts forecast that Allient Inc. will post 3.08 earnings per share for the current year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, November 18th. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s dividend payout ratio is presently 7.21%.

Institutional Trading of Allient

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp acquired a new stake in Allient during the 2nd quarter worth about $9,051,000. BlackRock Inc. bought a new position in shares of Allient in the 2nd quarter worth about $128,774,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Allient in the 2nd quarter worth about $3,181,000. Sei Investments Co. raised its position in shares of Allient by 87.9% in the 1st quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock worth $3,275,000 after acquiring an additional 25,935 shares in the last quarter. Finally, Navellier & Associates Inc. lifted its stake in shares of Allient by 158.7% in the 2nd quarter. Navellier & Associates Inc. now owns 17,975 shares of the company’s stock valued at $1,850,000 after purchasing an additional 11,027 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

About Allient

Allient Inc. designs and manufactures precision and specialty motion-control and power solutions. Its products include motors, gear motors, motion controllers, drives, encoders, actuators and integrated systems that help equipment move and operate with precision. The company serves a range of markets, including medical, aerospace and defense, industrial automation, robotics, transportation and energy. Allient operates internationally, with customers and operations across North America, Europe and Asia.