Allient Inc. (NASDAQ:ALNT) Short Interest Down 7.7% in March

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 87,600 shares, a decline of 7.7% from the March 15th total of 94,900 shares. Based on an average daily volume of 60,400 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.6% of the company’s shares are sold short.

Allient Stock Performance

Allient stock traded down $0.42 during mid-day trading on Tuesday, hitting $30.67. 34,976 shares of the company’s stock traded hands, compared to its average volume of 58,465. The firm has a 50 day moving average price of $31.17 and a 200 day moving average price of $29.35. The company has a quick ratio of 1.36, a current ratio of 2.60 and a debt-to-equity ratio of 0.87. The company has a market cap of $513.42 million, a PE ratio of 21.01 and a beta of 1.60. Allient has a one year low of $25.12 and a one year high of $40.59.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.30. Allient had a return on equity of 15.60% and a net margin of 4.16%. The company had revenue of $141.00 million for the quarter, compared to the consensus estimate of $132.65 million. On average, equities analysts forecast that Allient will post 2.5 EPS for the current year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 3rd. Stockholders of record on Wednesday, March 20th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Tuesday, March 19th. Allient’s dividend payout ratio (DPR) is presently 8.11%.

Analysts Set New Price Targets

A number of analysts recently issued reports on ALNT shares. Northland Securities reissued a “market perform” rating and set a $40.00 price objective (down from $45.00) on shares of Allient in a research report on Thursday, March 7th. Roth Mkm raised their target price on Allient from $38.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, March 7th.

Insider Activity

In related news, CFO Michael R. Leach sold 5,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.25, for a total value of $171,250.00. Following the completion of the sale, the chief financial officer now directly owns 92,089 shares of the company’s stock, valued at $3,154,048.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Michael R. Leach sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.25, for a total value of $171,250.00. Following the transaction, the chief financial officer now owns 92,089 shares in the company, valued at approximately $3,154,048.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Ashish Bendre sold 20,382 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $33.89, for a total transaction of $690,745.98. Following the completion of the transaction, the vice president now owns 36,350 shares in the company, valued at approximately $1,231,901.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,382 shares of company stock valued at $1,191,296. 15.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allient

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new position in Allient in the fourth quarter valued at about $1,494,000. Fisher Asset Management LLC purchased a new position in Allient in the fourth quarter valued at about $1,003,000. Vanguard Group Inc. purchased a new position in Allient in the fourth quarter valued at about $21,725,000. Finally, Confluence Investment Management LLC purchased a new position in Allient in the first quarter valued at about $3,346,000. 61.57% of the stock is owned by institutional investors and hedge funds.

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.