Allient (NASDAQ:ALNT) Stock Price Down 10.4% – Should You Sell?

Allient Inc. (NASDAQ:ALNT) shares dropped 10.4% on Thursday. The stock traded as low as $89.40 and last traded at $87.30. Approximately 45,890 shares were traded during trading, a decline of 79% from the average session volume of 223,067 shares. The stock had previously closed at $97.46.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wall Street Zen lowered Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. JPMorgan Chase & Co. downgraded Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, October 13th. Weiss Ratings raised Allient from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Zacks Research lowered Allient from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.00.

Allient Trading Up 1.7%

The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95. The business’s 50 day moving average price is $101.08 and its 200-day moving average price is $89.51. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 51.57 and a beta of 1.58.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data 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 net margin of 4.98% and a return on equity of 13.55%. The firm had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Equities analysts forecast that Allient Inc. will post 2.72 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Allient’s dividend payout ratio is 9.41%.

Insider Activity at Allient

In other news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was 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 $170,268,459.48. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in Allient in the second quarter valued at about $25,000. Kilter Group LLC acquired a new stake in shares of Allient during the 2nd quarter valued at approximately $37,000. GAMMA Investing LLC boosted its stake in shares of Allient by 29.3% during the 3rd quarter. GAMMA Investing LLC now owns 485 shares of the company’s stock worth $54,000 after acquiring an additional 110 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of Allient by 853.8% during the 3rd quarter. Sterling Capital Management LLC now owns 496 shares of the company’s stock worth $55,000 after acquiring an additional 444 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Allient by 51.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,851 shares of the company’s stock worth $207,000 after acquiring an additional 630 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Company Profile

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.