Allient (NASDAQ:ALNT) Hits New 1-Year High – Time to Buy?

Shares of Allient Inc. (NASDAQ:ALNT) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $48.56 and last traded at $47.87, with a volume of 409493 shares changing hands. The stock had previously closed at $44.52.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a report on Wednesday. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Allient Trading Down 4.1%

The stock has a market cap of $778.04 million, a P/E ratio of 53.38 and a beta of 1.51. The firm’s fifty day moving average price is $44.79 and its two-hundred day moving average price is $35.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. The firm had revenue of $139.58 million for the quarter, compared to analysts’ expectations of $132.89 million. Allient had a net margin of 2.75% and a return on equity of 9.97%. As a group, equities research analysts forecast that Allient Inc. will post 1.43 EPS for the current year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a $0.03 dividend. The ex-dividend date was Thursday, August 21st. This represents a $0.12 annualized dividend and a yield of 0.3%. Allient’s payout ratio is 13.95%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. grew its position in Allient by 173.0% in the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after acquiring an additional 633 shares in the last quarter. CWM LLC grew its position in Allient by 105.2% in the first quarter. CWM LLC now owns 1,890 shares of the company’s stock worth $42,000 after acquiring an additional 969 shares in the last quarter. GAMMA Investing LLC purchased a new position in Allient in the first quarter worth $60,000. Tower Research Capital LLC TRC grew its position in Allient by 162.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock worth $80,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Copeland Capital Management LLC grew its position in Allient by 16.4% in the second quarter. Copeland Capital Management LLC now owns 2,561 shares of the company’s stock worth $93,000 after acquiring an additional 360 shares in the last quarter. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

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.