Allient Inc. (NASDAQ:ALNT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Allient Inc. (NASDAQ:ALNT) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $50.3333.

A number of research firms have commented on ALNT. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on shares of Allient in a research report on Monday, October 20th. They set a “neutral” rating and a $60.00 price objective on the stock. Roth Capital increased their price objective on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday. Finally, Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th.

Allient Stock Up 2.2%

Allient stock traded up $1.10 during mid-day trading on Friday, reaching $52.09. The stock had a trading volume of 64,154 shares, compared to its average volume of 141,117. The company has a market capitalization of $882.54 million, a price-to-earnings ratio of 60.62 and a beta of 1.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17. Allient has a one year low of $19.25 and a one year high of $58.13. The company has a 50-day moving average price of $48.84 and a two-hundred day moving average price of $40.64.

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th will be issued a $0.03 dividend. The ex-dividend date is Thursday, November 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Allient’s payout ratio is currently 10.71%.

Hedge Funds Weigh In On Allient

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new position in Allient during the 1st quarter worth $47,025,000. Portolan Capital Management LLC acquired a new stake in Allient during the 3rd quarter valued at approximately $11,530,000. AIGH Capital Management LLC purchased a new position in shares of Allient during the 2nd quarter valued at about $7,262,000. Seizert Capital Partners LLC purchased a new stake in Allient in the 1st quarter worth approximately $3,312,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Allient during the 3rd quarter worth approximately $6,656,000. Hedge funds and other 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.