Allient (NASDAQ:ALNT) Sets New 12-Month High – Still a Buy?

Allient Inc. (NASDAQ:ALNT)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $91.76 and last traded at $91.0540, with a volume of 104875 shares changing hands. The stock had previously closed at $85.76.

Analyst Ratings Changes

A number of analysts recently commented on ALNT shares. Roth Mkm reiterated a “buy” rating and set a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Jefferies Financial Group set a $80.00 price objective on Allient in a research report on Tuesday, May 26th. Weiss Ratings cut Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Lake Street Capital started coverage on Allient in a research report on Wednesday, February 18th. They set a “buy” rating and a $79.00 price objective for the company. Finally, Craig Hallum reiterated a “buy” rating and set a $75.00 price objective on shares of Allient in a research report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Allient Stock Performance

The business has a 50-day moving average of $72.37 and a 200 day moving average of $64.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15. The company has a market cap of $1.55 billion, a PE ratio of 63.90 and a beta of 1.63.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The company had revenue of $138.92 million for the quarter, compared to the consensus estimate of $138.42 million. Equities research analysts anticipate that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. This is a boost from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, May 21st. Allient’s dividend payout ratio is presently 11.19%.

Institutional Trading of Allient

Several hedge funds have recently bought and sold shares of ALNT. Arax Advisory Partners grew its holdings in Allient by 113.9% during the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares during the period. Advisory Services Network LLC bought a new stake in Allient during the third quarter valued at about $34,000. Larson Financial Group LLC grew its holdings in Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after purchasing an additional 209 shares during the period. Finally, State of Wyoming bought a new stake in Allient during the fourth quarter valued at about $67,000. Institutional investors 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.