Allient (NASDAQ:ALNT) Reaches New 12-Month High – What’s Next?

Allient Inc. (NASDAQ:ALNT)’s share price hit a new 52-week high during trading on Wednesday . The stock traded as high as $63.30 and last traded at $62.7550, with a volume of 12929 shares. The stock had previously closed at $61.17.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a report on Wednesday, October 8th. JPMorgan Chase & Co. assumed coverage on Allient in a research report on Monday, October 20th. They set a “neutral” rating and a $60.00 price target on the stock. Roth Capital raised their target price on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Finally, Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Allient currently has an average rating of “Hold” and an average target price of $50.33.

Allient Stock Up 1.0%

The company has a quick ratio of 2.01, a current ratio of 3.53 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $55.30 and a two-hundred day moving average price of $48.95. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 55.12 and a beta of 1.55.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 20th were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, November 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.2%. Allient’s dividend payout ratio (DPR) is currently 10.71%.

Insider Buying and Selling at Allient

In related news, VP Ashish Bendre sold 16,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total value of $836,000.00. Following the completion of the sale, the vice president directly owned 23,166 shares in the company, valued at approximately $1,210,423.50. The trade was a 40.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 14.90% of the company’s stock.

Institutional Trading of Allient

A number of institutional investors have recently modified their holdings of the stock. Nkcfo LLC increased its stake in shares of Allient by 700.0% in the second quarter. Nkcfo LLC now owns 32,000 shares of the company’s stock valued at $1,162,000 after buying an additional 28,000 shares during the period. Los Angeles Capital Management LLC acquired a new position in Allient in the 2nd quarter valued at approximately $560,000. AIGH Capital Management LLC acquired a new position in shares of Allient during the second quarter worth $7,262,000. Assenagon Asset Management S.A. bought a new stake in shares of Allient in the third quarter worth $495,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Allient by 1.8% in the second quarter. Allspring Global Investments Holdings LLC now owns 450,279 shares of the company’s stock valued at $16,350,000 after purchasing an additional 7,944 shares during the period. 61.57% of the stock is currently 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.