Allient (NASDAQ:ALNT) VP Ashish Bendre Sells 16,000 Shares

Allient Inc. (NASDAQ:ALNT) VP Ashish Bendre sold 16,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total value of $836,000.00. Following the sale, the vice president directly owned 23,166 shares in the company, valued at approximately $1,210,423.50. The trade was a 40.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allient Stock Up 1.5%

Shares of ALNT stock traded up $0.82 during mid-day trading on Wednesday, hitting $54.14. 144,522 shares of the stock traded hands, compared to its average volume of 143,097. The stock has a market cap of $917.29 million, a P/E ratio of 62.95 and a beta of 1.51. The stock’s fifty day moving average is $49.87 and its two-hundred day moving average is $42.56. Allient Inc. has a 52-week low of $19.25 and a 52-week high of $58.13. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17.

Allient Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio is presently 10.71%.

Hedge Funds Weigh In On Allient

Several hedge funds have recently made changes to their positions in the company. Nuveen LLC acquired a new stake in Allient during the 1st quarter worth about $47,025,000. Portolan Capital Management LLC purchased a new position in shares of Allient in the third quarter worth about $11,530,000. AIGH Capital Management LLC acquired a new stake in shares of Allient during the second quarter worth about $7,262,000. Seizert Capital Partners LLC acquired a new stake in shares of Allient during the first quarter worth about $3,312,000. Finally, Hillsdale Investment Management Inc. purchased a new stake in Allient in the third quarter valued at approximately $6,656,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Roth Capital lifted their price target on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. initiated coverage on Allient in a research report on Monday, October 20th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.33.

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.