Allient Inc. (NASDAQ:ALNT – Get Free Report) shot up 6.9% on Friday . The stock traded as high as $99.96 and last traded at $100.7140. Approximately 85,535 shares changed hands during trading, a decline of 62% from the average daily volume of 222,863 shares. The stock had previously closed at $94.18.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the company. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. raised their price objective on Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a research report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to data from MarketBeat, Allient has a consensus rating of “Buy” and a consensus target price of $84.00.
Read Our Latest Analysis on ALNT
Allient Stock Up 6.9%
Allient (NASDAQ:ALNT – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The business had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. Equities research analysts forecast that Allient Inc. will post 2.73 earnings per share for the current year.
Allient Announces Dividend
The business 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. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date was Wednesday, August 19th. Allient’s dividend payout ratio (DPR) is presently 9.41%.
Insider Buying and Selling at Allient
In other news, CEO Richard Warzala sold 70,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 15.00% of the company’s stock.
Institutional Trading of Allient
A number of hedge funds and other institutional investors have recently modified their holdings of ALNT. Meeder Asset Management Inc. bought a new position in Allient in the 2nd quarter worth approximately $25,000. Arax Advisory Partners boosted its position in Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after buying an additional 263 shares during the last quarter. Advisory Services Network LLC bought a new position in Allient in the 3rd quarter valued at $34,000. Larson Financial Group LLC increased its stake in shares of Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after buying an additional 413 shares during the period. Finally, Kilter Group LLC acquired a new stake in shares of Allient in the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 61.57% of the company’s stock.
Allient Company Profile
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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