Allient Inc. (NASDAQ:ALNT) Short Interest Down 7.7% in March

Allient Inc. (NASDAQ:ALNT) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 87,600 shares, a decrease of 7.7% from the March 15th total of 94,900 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 60,400 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALNT. Northland Securities reiterated a “market perform” rating and set a $40.00 target price (down from $45.00) on shares of Allient in a research note on Thursday, March 7th. Roth Mkm increased their target price on Allient from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 7th.

Allient Stock Performance

ALNT stock opened at $30.87 on Wednesday. The company has a current ratio of 2.60, a quick ratio of 1.36 and a debt-to-equity ratio of 0.87. The firm has a market cap of $516.76 million, a P/E ratio of 20.86 and a beta of 1.60. Allient has a 12-month low of $25.12 and a 12-month high of $40.59. The stock’s 50 day simple moving average is $31.23 and its 200 day simple moving average is $29.35.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.30. The business had revenue of $141.00 million for the quarter, compared to analyst estimates of $132.65 million. Allient had a return on equity of 15.60% and a net margin of 4.16%. As a group, equities research analysts predict that Allient will post 2.5 EPS for the current year.

Allient Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 3rd. Investors of record on Wednesday, March 20th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Tuesday, March 19th. Allient’s dividend payout ratio is currently 8.11%.

Insiders Place Their Bets

In other Allient news, CFO Michael R. Leach sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $32.87, for a total value of $164,350.00. Following the completion of the transaction, the chief financial officer now owns 82,089 shares in the company, valued at approximately $2,698,265.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, VP Ashish Bendre sold 20,382 shares of the 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 completion of the transaction, the vice president now directly owns 36,350 shares in the company, valued at approximately $1,231,901.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael R. Leach sold 5,000 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $32.87, for a total value of $164,350.00. Following the transaction, the chief financial officer now owns 82,089 shares of the company’s stock, valued at $2,698,265.43. The disclosure for this sale can be found here. Insiders sold a total of 35,382 shares of company stock worth $1,191,296 in the last 90 days. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allient

Several institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new stake in Allient in the fourth quarter worth $1,494,000. Fisher Asset Management LLC acquired a new stake in Allient in the fourth quarter worth $1,003,000. Vanguard Group Inc. acquired a new stake in Allient in the fourth quarter worth $21,725,000. Finally, Confluence Investment Management LLC acquired a new stake in Allient in the first quarter worth $3,346,000. 61.57% of the stock is owned by institutional investors and hedge funds.

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.