Allient Inc. (NASDAQ:ALNT) Receives $50.33 Consensus PT from Brokerages

Shares of Allient Inc. (NASDAQ:ALNT) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $50.3333.

A number of research analysts have issued reports on ALNT shares. JPMorgan Chase & Co. assumed coverage on Allient in a research note on Monday, October 20th. They set a “neutral” rating and a $60.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. Zacks Research cut shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, Roth Capital boosted their target price on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 14th.

Insider Buying and Selling at Allient

In other news, VP Ashish Bendre sold 16,000 shares of Allient stock in a transaction dated Tuesday, November 25th. The stock was 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 of the company’s stock, valued at approximately $1,210,423.50. The trade was a 40.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Allient

Several institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new stake in shares of Allient during the 3rd quarter worth approximately $3,196,000. Advisory Services Network LLC purchased a new position in shares of Allient in the third quarter valued at $34,000. NewEdge Advisors LLC increased its position in Allient by 823.3% in the third quarter. NewEdge Advisors LLC now owns 6,112 shares of the company’s stock worth $274,000 after purchasing an additional 5,450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Allient during the third quarter valued at $297,000. Finally, Earnest Partners LLC purchased a new stake in Allient during the third quarter valued at $235,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Trading Up 4.9%

NASDAQ:ALNT opened at $58.33 on Friday. Allient has a 12 month low of $19.25 and a 12 month high of $59.55. The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average price of $53.96 and a 200-day moving average price of $47.13. The stock has a market cap of $988.11 million, a price-to-earnings ratio of 52.08 and a beta of 1.55.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were paid a $0.03 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.12 annualized dividend and a yield of 0.2%. Allient’s payout ratio is presently 10.71%.

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.