Shares of Allient Inc. (NASDAQ:ALNT – Get Free Report) fell 5.7% during trading on Tuesday . The company traded as low as $88.50 and last traded at $88.6140. Approximately 56,087 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 223,734 shares. The stock had previously closed at $94.01.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on ALNT. Wall Street Zen raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Jefferies Financial Group set a $80.00 price objective on Allient in a report on Tuesday, May 26th. Weiss Ratings raised shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 17th. Finally, Roth Capital restated a “buy” rating and issued a $70.00 price target on shares of Allient in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $84.00.
Check Out Our Latest Report on ALNT
Allient Trading Down 6.9%
Allient (NASDAQ:ALNT – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. Equities analysts expect that Allient Inc. will post 2.73 EPS for the current year.
Allient Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s dividend payout ratio is presently 9.41%.
Insider Buying and Selling
In other news, CEO Richard S. Warzala sold 70,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.00% of the stock is owned by company insiders.
Institutional Trading of Allient
A number of hedge funds have recently modified their holdings of ALNT. Cullen Frost Bankers Inc. increased its holdings in Allient by 22.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after buying an additional 209 shares in the last quarter. Jag Capital Management LLC boosted its stake in shares of 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 stake in shares of Allient during the 2nd quarter worth about $25,000. Arax Advisory Partners grew its position in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after acquiring an additional 263 shares during the period. Finally, Kilter Group LLC acquired a new stake in shares of Allient during the 2nd quarter valued at about $37,000. Hedge funds and other 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.
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