Allient (NASDAQ:ALNT) Sets New 1-Year High – Time to Buy?

Allient Inc. (NASDAQ:ALNT)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $35.18 and last traded at $34.81, with a volume of 75008 shares traded. The stock had previously closed at $33.83.

Analysts Set New Price Targets

ALNT has been the subject of several research analyst reports. Northland Securities set a $35.00 price target on Allient in a report on Monday, May 5th. Northland Capmk cut shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 5th.

Allient Price Performance

The company has a quick ratio of 2.18, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $591.50 million, a PE ratio of 39.70 and a beta of 1.47. The firm’s 50 day simple moving average is $26.82 and its 200 day simple moving average is $25.44.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.13. The firm had revenue of $134.62 million during the quarter, compared to analysts’ expectations of $125.00 million. Allient had a net margin of 2.64% and a return on equity of 10.80%. As a group, research analysts anticipate that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Thursday, May 22nd. Allient’s dividend payout ratio is currently 20.34%.

Hedge Funds Weigh In On Allient

A number of institutional investors have recently modified their holdings of ALNT. New York State Teachers Retirement System purchased a new position in Allient during the 4th quarter worth $32,000. Hurley Capital LLC bought a new position in shares of Allient during the 4th quarter worth $38,000. Public Employees Retirement System of Ohio purchased a new position in shares of Allient during the fourth quarter valued at $41,000. CWM LLC raised its holdings in shares of Allient by 105.2% in the first quarter. CWM LLC now owns 1,890 shares of the company’s stock valued at $42,000 after acquiring an additional 969 shares in the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Allient in the first quarter worth about $60,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Company Profile

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.