Allient (NASDAQ:ALNT) Price Target Cut to $39.00

Allient (NASDAQ:ALNT) had its price objective cut by Roth Mkm from $42.00 to $39.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Northland Securities reaffirmed a market perform rating and set a $40.00 price target (down previously from $45.00) on shares of Allient in a research note on Thursday, March 7th.

Allient Trading Up 0.0 %

Shares of ALNT stock opened at $26.70 on Wednesday. The company has a current ratio of 3.56, a quick ratio of 1.85 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $448.03 million, a price-to-earnings ratio of 17.68 and a beta of 1.64. Allient has a 12-month low of $25.12 and a 12-month high of $40.59. The stock’s 50-day moving average price is $31.05 and its 200-day moving average price is $29.48.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.30. The business had revenue of $141.00 million during the quarter, compared to analysts’ expectations of $132.65 million. Allient had a return on equity of 15.26% and a net margin of 4.26%. Equities research analysts predict that Allient will post 1.87 EPS for the current fiscal year.

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.12 annualized dividend and a yield of 0.45%. Allient’s payout ratio is currently 7.95%.

Insider Activity

In other news, VP Ashish Bendre sold 20,382 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $33.89, for a total transaction of $690,745.98. Following the transaction, the vice president now owns 36,350 shares of the company’s stock, valued at approximately $1,231,901.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Ashish Bendre sold 20,382 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 36,350 shares in the company, valued at approximately $1,231,901.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael R. Leach sold 5,000 shares of Allient stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $32.99, for a total transaction of $164,950.00. Following the transaction, the chief financial officer now directly owns 87,089 shares of the company’s stock, valued at $2,873,066.11. The disclosure for this sale can be found here. Insiders sold 35,382 shares of company stock valued at $1,191,296 in the last ninety days. Insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Shell Asset Management Co. purchased a new position in Allient in the 1st quarter worth about $35,000. New York State Teachers Retirement System bought a new position in Allient in the 1st quarter worth about $41,000. Ameritas Investment Partners Inc. purchased a new position in shares of Allient during the first quarter worth approximately $49,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Allient during the first quarter valued at approximately $57,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Allient during the first quarter valued at approximately $70,000. 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.