Allient Inc. (NASDAQ:ALNT) Receives $50.33 Average PT from Analysts

Allient Inc. (NASDAQ:ALNT) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $50.3333.

ALNT has been the topic of several research analyst reports. JPMorgan Chase & Co. began coverage on Allient in a research note on Monday, October 20th. They set a “neutral” rating and a $60.00 target price on the stock. Roth Capital upped their price target on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Zacks Research upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Friday, November 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th.

Allient Stock Down 2.5%

Shares of NASDAQ ALNT opened at $55.40 on Tuesday. The company has a market cap of $938.48 million, a P/E ratio of 49.46 and a beta of 1.59. The company has a quick ratio of 2.01, a current ratio of 3.53 and a debt-to-equity ratio of 0.65. The business has a 50-day simple moving average of $52.23 and a two-hundred day simple moving average of $44.55. Allient has a 52 week low of $19.25 and a 52 week high of $58.13.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were issued a $0.03 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio (DPR) is 10.71%.

Insider Buying and Selling

In related news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total transaction of $836,000.00. Following the transaction, the vice president owned 23,166 shares of the company’s stock, valued at $1,210,423.50. This represents a 40.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 15.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Advisory Services Network LLC bought a new stake in shares of Allient in the 3rd quarter valued at $34,000. Cullen Frost Bankers Inc. grew its position in shares of Allient by 173.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after buying an additional 633 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Allient during the 3rd quarter worth approximately $41,000. New York State Teachers Retirement System bought a new stake in Allient during the third quarter worth $58,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Allient by 162.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after buying an additional 1,355 shares in the last quarter. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.