Allient (NASDAQ:ALNT) Trading Down 12.8% – Time to Sell?

Allient Inc. (NASDAQ:ALNT) dropped 12.8% during mid-day trading on Thursday . The company traded as low as $85.47 and last traded at $85.9790. Approximately 182,681 shares were traded during mid-day trading, a decline of 13% from the average session volume of 210,202 shares. The stock had previously closed at $98.63.

Wall Street Analyst Weigh In

Several analysts have commented on ALNT shares. JPMorgan Chase & Co. upgraded shares of Allient from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $65.00 to $80.00 in a research note on Tuesday, May 26th. Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday. Craig Hallum reiterated a “buy” rating and issued a $75.00 target price on shares of Allient in a research report on Monday, March 9th. Wall Street Zen lowered Allient from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Jefferies Financial Group set a $80.00 price target on Allient in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Allient currently has an average rating of “Moderate Buy” and a consensus price target of $77.33.

Allient Price Performance

The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.48 billion, a PE ratio of 60.76 and a beta of 1.59. The stock’s 50-day moving average is $80.85 and its two-hundred day moving average is $68.96.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The business had revenue of $138.91 million for the quarter, compared to analysts’ expectations of $138.42 million. On average, equities analysts predict that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.04 dividend. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s dividend payout ratio is currently 11.19%.

Institutional Trading of Allient

Several institutional investors and hedge funds have recently made changes to their positions in ALNT. Bank of America Corp DE boosted its stake in shares of Allient by 3.3% during the first quarter. Bank of America Corp DE now owns 33,389 shares of the company’s stock valued at $1,973,000 after purchasing an additional 1,079 shares during the period. Smith Group Asset Management LLC bought a new position in Allient in the 1st quarter worth about $450,000. EverSource Wealth Advisors LLC increased its position in shares of Allient by 5,102.3% during the first quarter. EverSource Wealth Advisors LLC now owns 2,289 shares of the company’s stock worth $135,000 after acquiring an additional 2,245 shares during the period. Quantinno Capital Management LP increased its position in shares of Allient by 10.3% during the first quarter. Quantinno Capital Management LP now owns 11,701 shares of the company’s stock worth $691,000 after acquiring an additional 1,088 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Allient by 87.9% during the first quarter. Sei Investments Co. now owns 55,424 shares of the company’s stock valued at $3,275,000 after acquiring an additional 25,935 shares in the last quarter. 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.