Allient (NASDAQ:ALNT) Shares Gap Up – Still a Buy?

Shares of Allient Inc. (NASDAQ:ALNT – Get Free Report) gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALNT. Weiss Ratings downgraded Allient from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday. JPMorgan Chase & Co. cut Allient from an “overweight” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, October 13th. Zacks Research lowered Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Wall Street Zen lowered Allient from a “strong-buy” rating to a “buy” rating in a research 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 company has a consensus rating of “Moderate Buy” and an average target price of $84.00.

Get Our Latest Report on Allient

Allient Trading Up 0.6%

The company has a market capitalization of $1.61 billion, a P/E ratio of 55.68 and a beta of 1.58. The company’s fifty day moving average is $100.61 and its 200 day moving average is $81.90.

Allient (NASDAQ:ALNT – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to analysts’ expectations of $145.68 million. Equities research analysts predict that Allient Inc. will post 2.72 EPS for the current year.

Allient Dividend Announcement

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

Insiders Place Their Bets

In other news, CEO Richard Warzala sold 70,000 shares of the business’s stock in a transaction that occurred 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 approximately $170,268,459.48. The trade was a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 15.00% of the company’s stock.

Hedge Funds Weigh In On Allient

A number of institutional investors have recently bought and sold shares of the stock. Smith Group Asset Management LLC increased its stake 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 worth $1,385,000 after acquiring an additional 207 shares in the last quarter. Sterling Capital Management LLC lifted its position in 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. Inspire Investing LLC lifted its holdings in shares of Allient by 271.0% during the third quarter. Inspire Investing LLC now owns 7,052 shares of the company’s stock valued at $787,000 after purchasing an additional 5,151 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Allient by 51.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,851 shares of the company’s stock worth $207,000 after buying an additional 630 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Allient by 29.3% during the third quarter. GAMMA Investing LLC now owns 485 shares of the company’s stock valued at $54,000 after purchasing an additional 110 shares during the period. 61.57% of the stock is owned by institutional investors.

About Allient

(Get Free Report)

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.

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