Allient Inc. Declares Quarterly Dividend of $0.03 (NASDAQ:ALNT)

Allient Inc. (NASDAQ:ALNT) declared a quarterly dividend on Wednesday, May 8th, Zacks reports. Investors of record on Thursday, May 23rd will be paid a dividend of 0.03 per share on Thursday, June 6th. This represents a $0.12 annualized dividend and a yield of 0.40%. The ex-dividend date is Wednesday, May 22nd.

Allient has decreased its dividend by an average of 1.4% annually over the last three years and has raised its dividend every year for the last 1 years. Allient has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Allient to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 4.6%.

Allient Stock Down 1.3 %

Allient stock traded down $0.40 during mid-day trading on Friday, hitting $29.70. 30,595 shares of the company’s stock were exchanged, compared to its average volume of 59,463. Allient has a 1-year low of $25.12 and a 1-year high of $40.59. The stock has a 50 day moving average of $31.78 and a two-hundred day moving average of $29.38. The stock has a market cap of $497.15 million, a P/E ratio of 20.34 and a beta of 1.64. The company has a current ratio of 2.60, a quick ratio of 1.36 and a debt-to-equity ratio of 0.87.

Allient (NASDAQ:ALNT) last released its earnings results on Tuesday, March 5th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.30. The firm had revenue of $141.00 million during the quarter, compared to analyst estimates of $132.65 million. Allient had a net margin of 4.16% and a return on equity of 15.60%. As a group, analysts anticipate that Allient will post 2.28 EPS for the current fiscal year.

Insider Buying and Selling

In other Allient news, CFO Michael R. Leach sold 5,000 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $34.25, for a total value of $171,250.00. Following the sale, the chief financial officer now directly owns 92,089 shares in the company, valued at $3,154,048.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Ashish Bendre sold 20,382 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $33.89, for a total value of $690,745.98. Following the completion of the transaction, the vice president now owns 36,350 shares of the company’s stock, valued at $1,231,901.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael R. Leach sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $34.25, for a total value of $171,250.00. Following the transaction, the chief financial officer now directly owns 92,089 shares of the company’s stock, valued at $3,154,048.25. The disclosure for this sale can be found here. Insiders sold a total of 35,382 shares of company stock valued at $1,191,296 over the last ninety days. Insiders own 15.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ALNT has been the subject of several analyst reports. Northland Securities restated a “market perform” rating and set a $40.00 target price (down previously from $45.00) on shares of Allient in a research report on Thursday, March 7th. Roth Mkm boosted their target price on shares of Allient from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 7th.

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.