Allient (NASDAQ:ALNT) Hits New 52-Week High – Should You Buy?

Allient Inc. (NASDAQ:ALNT) shares reached a new 52-week high during trading on Monday . The stock traded as high as $60.49 and last traded at $59.4050, with a volume of 20920 shares trading hands. The stock had previously closed at $59.07.

Wall Street Analyst Weigh In

A number of research firms recently commented on ALNT. Roth Capital boosted their price objective on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research note on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on Allient in a report on Monday, October 20th. They issued a “neutral” rating and a $60.00 price target on the stock. Finally, Zacks Research cut Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.33.

Allient Price Performance

The company has a market capitalization of $1.04 billion, a PE ratio of 54.90 and a beta of 1.55. The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. The company’s 50 day moving average price is $54.55 and its 200-day moving average price is $48.21.

Allient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th were given 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 of this dividend was Thursday, November 20th. Allient’s payout ratio is 10.71%.

Insider Activity at Allient

In other news, VP Ashish Bendre sold 16,000 shares of Allient stock in a transaction dated Tuesday, November 25th. The stock was 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 $1,210,423.50. The trade was a 40.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 14.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allient

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in Allient in the third quarter valued at approximately $34,000. Cullen Frost Bankers Inc. boosted its stake in shares of Allient by 173.0% in the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after purchasing an additional 633 shares during the period. State of Alaska Department of Revenue acquired a new stake in Allient during the 3rd quarter valued at $41,000. New York State Teachers Retirement System acquired a new stake in Allient during the 3rd quarter valued at $58,000. Finally, Tower Research Capital LLC TRC increased its stake in Allient by 162.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock worth $80,000 after buying an additional 1,355 shares during the period. 61.57% of the stock is owned by institutional investors and hedge funds.

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.