Allient Inc. (NASDAQ:ALNT) Short Interest Down 22.8% in March

Allient Inc. (NASDAQ:ALNT - Get Free Report) was the target of a large drop in short interest in March. As of March 15th, there was short interest totalling 190,600 shares, a drop of 22.8% from the February 28th total of 246,800 shares. Currently, 1.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 86,200 shares, the days-to-cover ratio is currently 2.2 days.

Hedge Funds Weigh In On Allient

A number of large investors have recently made changes to their positions in ALNT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Allient by 4.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,346 shares of the company's stock worth $203,000 after purchasing an additional 380 shares during the last quarter. Gabelli Funds LLC boosted its holdings in Allient by 1.3% during the 4th quarter. Gabelli Funds LLC now owns 77,569 shares of the company's stock valued at $1,883,000 after acquiring an additional 1,000 shares during the period. Aquatic Capital Management LLC increased its stake in Allient by 17.1% in the fourth quarter. Aquatic Capital Management LLC now owns 7,847 shares of the company's stock worth $191,000 after purchasing an additional 1,147 shares during the period. New York State Teachers Retirement System bought a new position in shares of Allient in the fourth quarter worth about $32,000. Finally, Hurley Capital LLC purchased a new stake in Allient in the 4th quarter valued at about $38,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALNT. Northland Capmk upgraded shares of Allient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Northland Securities upgraded Allient from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $30.00 to $35.00 in a research report on Tuesday, February 11th.

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Allient Price Performance

Shares of ALNT stock traded down $1.66 on Thursday, reaching $20.43. The company's stock had a trading volume of 18,955 shares, compared to its average volume of 110,272. The stock's fifty day simple moving average is $24.64 and its 200-day simple moving average is $23.18. Allient has a 1 year low of $16.91 and a 1 year high of $34.23. The company has a market capitalization of $346.16 million, a price-to-earnings ratio of 23.22 and a beta of 1.59. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.03. Allient had a net margin of 2.64% and a return on equity of 10.80%. The firm had revenue of $122.01 million during the quarter, compared to the consensus estimate of $119.72 million. Analysts forecast that Allient will post 1.43 earnings per share for the current fiscal year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Thursday, March 20th. Allient's dividend payout ratio is currently 15.00%.

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.