Allient (NASDAQ:ALNT) Shares Gap Up After Earnings Beat

Allient Inc. (NASDAQ:ALNT – Get Free Report)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $79.56, but opened at $86.76. Allient shares last traded at $76.0750, with a volume of 203,332 shares changing hands.

The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33. The company had revenue of $164.40 million during the quarter, compared to the consensus estimate of $154.48 million. Allient had a return on equity of 13.55% and a net margin of 4.98%.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, November 18th. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. Allient’s dividend payout ratio is presently 9.41%.

Allient News Roundup

Here are the key news stories impacting Allient this week:

  • Positive Sentiment: Allient earned $1.07 per share, above the $0.74 consensus and up from $0.59 a year earlier. Revenue was $164.4 million, also ahead of estimates near $154.5 million. The company described the quarter as delivering record revenue, margins and orders. Allient third-quarter results
  • Positive Sentiment: Allient declared a quarterly dividend of $0.04 per share, or $0.16 annualized, with a stated yield of 0.2%. Shareholders of record November 18 are scheduled to be paid December 2.
  • Neutral Sentiment: Shares may be facing a valuation headwind: a recent article characterized ALNT as potentially overvalued following a 209% three-year gain. Valuation article
  • Negative Sentiment: ALNT traded lower even with the results beating estimates. The valuation concerns and potential profit-taking after the stock’s substantial multiyear rise may help explain the weakness; the available reports do not identify a specific negative earnings detail driving it.

Analyst Ratings Changes

ALNT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of Allient from an “overweight” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, October 13th. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Weiss Ratings lowered Allient from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Finally, Wall Street Zen lowered Allient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Allient presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.00.

Read Our Latest Report on ALNT

Insider Transactions at Allient

In other Allient news, CEO Richard Warzala sold 70,000 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allient

Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new stake in shares of Allient during the 2nd quarter valued at about $25,000. Kilter Group LLC bought a new position in shares of Allient in the 2nd quarter valued at about $37,000. GAMMA Investing LLC increased 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 acquiring an additional 110 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Allient by 853.8% during the 3rd quarter. Sterling Capital Management LLC now owns 496 shares of the company’s stock worth $55,000 after acquiring an additional 444 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Allient by 5,102.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,289 shares of the company’s stock worth $135,000 after acquiring an additional 2,245 shares in the last quarter. Institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1.29 billion, a PE ratio of 44.97 and a beta of 1.62. The firm has a 50 day moving average price of $99.28 and a 200 day moving average price of $82.72.

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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