Allient (NASDAQ:ALNT) Shares Cross Below 200 Day Moving Average – What’s Next?

Allient Inc. (NASDAQ:ALNT)’s share price crossed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $82.72 and traded as low as $75.49. Allient shares last traded at $79.56, with a volume of 405,341 shares.

Wall Street Analyst Weigh In

ALNT has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price target on the stock. in a report on Tuesday, October 13th. Zacks Research downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Wall Street Zen lowered Allient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Weiss Ratings lowered Allient from a “buy (b)” rating to a “hold (c+)” rating in a report on Monday, October 26th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.00.

Allient Trading Down 9.6%

The stock has a market cap of $1.35 billion, a PE ratio of 46.80 and a beta of 1.62. The company’s fifty day moving average is $99.28 and its 200-day moving average is $82.72. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, November 4th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.74 by $0.33. The firm had revenue of $164.40 million for the quarter, compared to analyst estimates of $154.48 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. On average, analysts predict that Allient Inc. will post 2.72 earnings per share for the current fiscal year.

Allient Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 18th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, November 18th. Allient’s dividend payout ratio is currently 9.41%.

Insiders Place Their Bets

In other Allient news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the transaction, 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 document filed with the SEC, which is available through this hyperlink. 15.00% of the stock is owned by company insiders.

Institutional Trading of Allient

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Allient by 29.3% in the third quarter. GAMMA Investing LLC now owns 485 shares of the company’s stock valued at $54,000 after buying an additional 110 shares in the last quarter. Smith Group Asset Management LLC lifted its stake in Allient by 1.7% during the 3rd quarter. Smith Group Asset Management LLC now owns 12,408 shares of the company’s stock worth $1,385,000 after acquiring an additional 207 shares in the last quarter. Jag Capital Management LLC lifted its stake in Allient by 5.1% during the 1st quarter. Jag Capital Management LLC now owns 5,107 shares of the company’s stock worth $302,000 after acquiring an additional 246 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Allient during the 2nd quarter valued at about $25,000. Finally, Kilter Group LLC purchased a new position in Allient during the 2nd quarter valued at about $37,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

About Allient

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.