Allient (NASDAQ:ALNT) Shares Down 5% – What’s Next?

Shares of Allient Inc. (NASDAQ:ALNT) dropped 5% during trading on Friday . The stock traded as low as $94.32 and last traded at $94.49. Approximately 149,417 shares were traded during trading, a decline of 33% from the average session volume of 224,684 shares. The stock had previously closed at $99.43.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. boosted their price target on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Roth Capital restated a “buy” rating and set a $70.00 price target on shares of Allient in a research report on Friday, May 8th. Weiss Ratings raised Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Finally, Wall Street Zen raised Allient from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat.com, Allient currently has a consensus rating of “Buy” and an average price target of $84.00.

Allient Trading Down 3.6%

The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.63 billion, a PE ratio of 56.36 and a beta of 1.61. The stock’s fifty day moving average price is $95.26 and its two-hundred day moving average price is $77.84.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. Allient had a return on equity of 13.55% and a net margin of 4.98%.The business had revenue of $153.77 million during the quarter, compared to analyst estimates of $145.68 million. Sell-side analysts anticipate that Allient Inc. will post 2.72 earnings per share for the current year.

Allient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, August 19th. Allient’s payout ratio is presently 9.41%.

Insider Buying and Selling

In other news, CEO Richard S. Warzala sold 70,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the sale, the chief executive officer directly owned 1,499,106 shares of the company’s stock, valued at approximately $170,268,459.48. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Allient

Institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new stake in Allient during the 2nd quarter valued at approximately $25,000. Kilter Group LLC bought a new position in shares of Allient in the 2nd quarter worth approximately $37,000. Arax Advisory Partners raised its position in shares of Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of Allient by 149.1% in the 4th 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. Finally, Advisory Services Network LLC purchased a new position in shares of Allient in the 3rd quarter valued at approximately $34,000. 61.57% of the stock is owned by institutional investors.

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.