Allient (NASDAQ:ALNT) Trading Down 5.6% – Should You Sell?

Allient Inc. (NASDAQ:ALNT)’s share price dropped 5.6% during mid-day trading on Tuesday . The stock traded as low as $53.59 and last traded at $55.0650. Approximately 21,782 shares changed hands during trading, a decline of 76% from the average daily volume of 89,737 shares. The stock had previously closed at $58.33.

Analysts Set New Price Targets

ALNT has been the subject of several recent research reports. JPMorgan Chase & Co. assumed coverage on shares of Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. Roth Capital upped their target price on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Finally, Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $50.33.

Allient Stock Performance

The stock has a market cap of $950.33 million, a P/E ratio of 50.09 and a beta of 1.55. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. The firm’s 50 day moving average is $54.03 and its 200 day moving average is $47.37.

Allient Announces Dividend

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

Insiders Place Their Bets

In related news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction dated 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 directly owned 23,166 shares of the company’s stock, valued at $1,210,423.50. This represents a 40.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 15.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Allient

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Allient by 19.8% during the first quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock valued at $2,453,000 after acquiring an additional 18,416 shares in the last quarter. AQR Capital Management LLC grew its position in Allient by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock worth $1,179,000 after purchasing an additional 3,979 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Allient by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after purchasing an additional 390 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Allient during the 1st quarter valued at approximately $370,000. Finally, Empowered Funds LLC raised its holdings in shares of Allient by 8.1% in the first quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after buying an additional 3,458 shares during the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.

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.