Allient (NASDAQ:ALNT) Shares Down 5.7% – Here’s What Happened

Allient Inc. (NASDAQ:ALNT)’s share price fell 5.7% during mid-day trading on Tuesday . The company traded as low as $88.50 and last traded at $88.6140. Approximately 56,087 shares were traded during mid-day trading, a decline of 75% from the average session volume of 223,734 shares. The stock had previously closed at $94.01.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Jefferies Financial Group set a $80.00 price objective on Allient in a research note on Tuesday, May 26th. Wall Street Zen raised Allient from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Finally, Macquarie Infrastructure set a $80.00 target price on Allient in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to data from MarketBeat, Allient presently has an average rating of “Buy” and a consensus price target of $84.00.

Allient Stock Down 6.9%

The business’s 50 day moving average price is $95.09 and its 200-day moving average price is $79.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The firm has a market capitalization of $1.49 billion, a PE ratio of 51.51 and a beta of 1.61.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.19. The firm had revenue of $153.77 million for the quarter, compared to analyst estimates of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. As a group, equities research analysts forecast that Allient Inc. will post 2.73 earnings per share for the current year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be paid a $0.04 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio (DPR) is currently 9.41%.

Insider Activity at Allient

In related news, CEO Richard S. Warzala sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 15.00% of the company’s stock.

Institutional Investors Weigh In On Allient

Several large investors have recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its holdings in shares of Allient by 22.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after buying an additional 209 shares during the last quarter. Jag Capital Management LLC grew its holdings in shares of Allient by 5.1% during the first quarter. Jag Capital Management LLC now owns 5,107 shares of the company’s stock worth $302,000 after buying an additional 246 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Allient during the second quarter worth about $25,000. Arax Advisory Partners increased its position in Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after acquiring an additional 263 shares during the period. Finally, Kilter Group LLC acquired a new position in Allient in the 2nd quarter valued at about $37,000. 61.57% of the stock is 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.