Allient (NASDAQ:ALNT) Shares Down 12.8% – Here’s What Happened

Allient Inc. (NASDAQ:ALNT) shares were down 12.8% on Thursday . The stock traded as low as $85.47 and last traded at $85.9790. Approximately 182,681 shares traded hands 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ALNT shares. Wall Street Zen upgraded Allient from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. JPMorgan Chase & Co. upgraded shares of Allient from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $65.00 to $80.00 in a research report on Tuesday, May 26th. Roth Mkm reissued a “buy” rating and issued a $70.00 price target on shares of Allient in a research report on Friday, May 8th. Craig Hallum reissued a “buy” rating and issued a $75.00 price target on shares of Allient in a research report on Monday, March 9th. Finally, Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research note 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $77.33.

Allient Price Performance

The stock has a market capitalization of $1.48 billion, a PE ratio of 60.76 and a beta of 1.58. The business’s 50-day moving average price is $80.22 and its 200 day moving average price is $68.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73.

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

Allient Increases Dividend

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

Institutional Trading of Allient

Several institutional investors and hedge funds have recently modified their holdings of ALNT. Vanguard Group Inc. grew its holdings in shares of Allient by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock worth $54,355,000 after purchasing an additional 26,438 shares in the last quarter. State Street Corp raised its stake in Allient by 32.5% in the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after purchasing an additional 96,264 shares in the last quarter. Geode Capital Management LLC raised its stake in Allient by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after purchasing an additional 10,173 shares in the last quarter. Jennison Associates LLC lifted its position in Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock valued at $20,884,000 after purchasing an additional 186,316 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Allient by 20.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock valued at $13,009,000 after purchasing an additional 49,384 shares during the last quarter. Hedge funds and other institutional investors own 61.57% of the company’s stock.

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.