Allient (NASDAQ:ALNT) Issues Quarterly Earnings Results

Allient (NASDAQ:ALNT) released its earnings results on Wednesday. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.74 by $0.33, FiscalAI reports. Allient had a return on equity of 16.06% and a net margin of 6.24%. The business had revenue of $164.40 million for the quarter, compared to the consensus estimate of $155.25 million.

Allient Stock Up 9.5%

Shares of ALNT stock traded up $7.17 during mid-day trading on Friday, hitting $82.64. The company’s stock had a trading volume of 123,341 shares, compared to its average volume of 223,475. Allient has a 52-week low of $48.12 and a 52-week high of $121.42. The business has a 50-day moving average price of $98.93 and a 200 day moving average price of $82.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 37.31 and a beta of 1.62.

Allient Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 18th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s dividend payout ratio (DPR) is presently 7.21%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALNT. JPMorgan Chase & Co. lowered Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, October 13th. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Weiss Ratings lowered shares of Allient from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Finally, Wall Street Zen cut shares of Allient from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 19th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.00.

Insider Activity

In other news, CEO Richard Warzala sold 70,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction 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 represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 15.00% of the stock is currently owned by insiders.

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.