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

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

Allient Trading Up 1.5%

Allient stock opened at $54.14 on Friday. Allient Inc. has a 12 month low of $19.25 and a 12 month high of $58.13. The company has a market capitalization of $917.29 million, a price-to-earnings ratio of 62.95 and a beta of 1.51. The business’s fifty day simple moving average is $49.99 and its two-hundred day simple moving average is $42.64. The company has a current ratio of 3.74, a quick ratio of 2.17 and a debt-to-equity ratio of 0.70.

Allient Announces Dividend

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

Institutional Investors Weigh In On Allient

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisory Services Network LLC bought a new stake in Allient in the 3rd quarter worth approximately $34,000. NewEdge Advisors LLC boosted its stake in shares of Allient by 823.3% in the 3rd quarter. NewEdge Advisors LLC now owns 6,112 shares of the company’s stock worth $274,000 after buying an additional 5,450 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Allient in the 3rd quarter worth $297,000. Earnest Partners LLC bought a new stake in shares of Allient in the third quarter worth $235,000. Finally, Brevan Howard Capital Management LP purchased a new stake in Allient during the third quarter valued at $326,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. 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 objective for the company. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Finally, Roth Capital lifted 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. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.