Allient (NASDAQ:ALNT) Sets New 52-Week High – Time to Buy?

Allient Inc. (NASDAQ:ALNT) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $74.16 and last traded at $74.7450, with a volume of 26732 shares. The stock had previously closed at $70.39.

Wall Street Analyst Weigh In

ALNT has been the topic of a number of research reports. Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Lake Street Capital initiated coverage on shares of Allient in a report on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price objective on the stock. Roth Mkm raised their price objective on shares of Allient from $56.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Finally, Craig Hallum reissued a “buy” rating and issued a $75.00 price objective on shares of Allient in a report on Monday, March 9th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Allient currently has an average rating of “Hold” and an average price target of $63.60.

Allient Trading Up 5.7%

The firm has a market capitalization of $1.27 billion, a P/E ratio of 56.36 and a beta of 1.53. The stock’s 50-day simple moving average is $64.84 and its two-hundred day simple moving average is $58.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.66 and a quick ratio of 2.08.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Thursday, March 5th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. The business had revenue of $143.35 million during the quarter, compared to analyst estimates of $133.33 million. Allient had a net margin of 3.97% and a return on equity of 12.53%. Equities research analysts expect that Allient Inc. will post 1.43 EPS for the current year.

Allient Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Stockholders of record on Friday, March 20th were given a dividend of $0.03 per share. The ex-dividend date was Friday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Allient’s dividend payout ratio (DPR) is presently 9.09%.

Institutional Investors Weigh In On Allient

Several institutional investors and hedge funds have recently modified their holdings of the stock. Balboa Wealth Partners bought a new stake in shares of Allient during the first quarter valued at approximately $227,000. Tulsa Wealth Advisors INC bought a new stake in shares of Allient during the fourth quarter valued at approximately $659,000. Invesco Ltd. raised its position in shares of Allient by 1.3% during the fourth quarter. Invesco Ltd. now owns 85,409 shares of the company’s stock valued at $4,591,000 after buying an additional 1,084 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Allient during the fourth quarter valued at approximately $219,000. Finally, Millennium Management LLC raised its position in shares of Allient by 38.8% during the fourth quarter. Millennium Management LLC now owns 137,527 shares of the company’s stock valued at $7,392,000 after buying an additional 38,447 shares during the last quarter. Institutional investors own 61.57% of the company’s stock.

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.