Allient (NASDAQ:ALNT) Stock Price Down 5.3%

Allient Inc. (NASDAQ:ALNT - Get Free Report) shares were down 5.3% during trading on Friday . The stock traded as low as $24.18 and last traded at $24.30. Approximately 121,701 shares were traded during mid-day trading, an increase of 71% from the average daily volume of 71,306 shares. The stock had previously closed at $25.66.

Analyst Ratings Changes

Several analysts recently commented on ALNT shares. Northland Securities reaffirmed a "market perform" rating and issued a $40.00 price objective (down previously from $45.00) on shares of Allient in a report on Thursday, March 7th. Roth Mkm cut their price objective on Allient from $42.00 to $39.00 and set a "buy" rating for the company in a report on Wednesday, May 22nd.

Allient Stock Down 5.3 %

The company has a quick ratio of 1.85, a current ratio of 3.56 and a debt-to-equity ratio of 0.90. The company has a market cap of $407.66 million, a P/E ratio of 16.09 and a beta of 1.60. The company has a fifty day moving average of $28.75 and a 200 day moving average of $29.45.

Allient (NASDAQ:ALNT - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. The company had revenue of $146.71 million for the quarter, compared to the consensus estimate of $145.84 million. Allient had a return on equity of 15.26% and a net margin of 4.26%. On average, research analysts anticipate that Allient Inc. will post 1.87 earnings per share for the current fiscal year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.12 annualized dividend and a yield of 0.49%. Allient's dividend payout ratio (DPR) is presently 7.95%.

Insider Activity at Allient

In related news, CFO Michael R. Leach sold 5,000 shares of Allient stock in a transaction on Monday, March 18th. The stock was sold at an average price of $32.87, for a total transaction of $164,350.00. Following the transaction, the chief financial officer now directly owns 82,089 shares in the company, valued at $2,698,265.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allient

Several large investors have recently made changes to their positions in ALNT. Fisher Asset Management LLC purchased a new position in shares of Allient in the fourth quarter valued at about $1,003,000. Confluence Investment Management LLC purchased a new stake in shares of Allient in the first quarter worth about $3,346,000. Allspring Global Investments Holdings LLC purchased a new position in Allient during the 1st quarter valued at approximately $57,000. Wasatch Advisors LP purchased a new position in Allient during the 1st quarter valued at approximately $20,914,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of Allient during the 1st quarter worth approximately $288,000. 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.