Allient (NASDAQ:ALNT) Shares Gap Up – Time to Buy?

Allient Inc. (NASDAQ:ALNT)’s stock price gapped up prior to trading on Wednesday. The stock had previously closed at $94.04, but opened at $97.41. Allient shares last traded at $94.6620, with a volume of 70,525 shares traded.

Analysts Set New Price Targets

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

Allient Price Performance

The business’s 50 day moving average is $100.16 and its two-hundred day moving average is $82.26. 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 firm has a market capitalization of $1.56 billion, a PE ratio of 39.45 and a beta of 1.58.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.19. The firm had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. Equities research analysts anticipate that Allient Inc. will post 2.72 earnings per share for the current fiscal year.

Allient Dividend Announcement

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

Insider Buying and Selling

In other Allient news, CEO Richard Warzala sold 70,000 shares of Allient stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. The trade was a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allient

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Allient during the third quarter worth about $289,000. State of Wyoming increased its stake in Allient by 55.4% in the 3rd quarter. State of Wyoming now owns 3,687 shares of the company’s stock worth $411,000 after acquiring an additional 1,314 shares during the last quarter. Smith Group Asset Management LLC raised its holdings in shares of Allient by 1.7% in the 3rd quarter. Smith Group Asset Management LLC now owns 12,408 shares of the company’s stock valued at $1,385,000 after acquiring an additional 207 shares in the last quarter. Sterling Capital Management LLC raised its holdings in shares of Allient by 853.8% in the 3rd quarter. Sterling Capital Management LLC now owns 496 shares of the company’s stock valued at $55,000 after acquiring an additional 444 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Allient by 271.0% during the 3rd quarter. Inspire Investing LLC now owns 7,052 shares of the company’s stock valued at $787,000 after acquiring an additional 5,151 shares during the last quarter. 61.57% of the stock is currently owned by 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.