Allient Inc. (NASDAQ:ALNT) Sees Significant Drop in Short Interest
Allient Inc. (NASDAQ:ALNT) experienced a 22.8% decline in short interest in March, totaling 190,600 shares. The short-interest ratio is currently 2.2 days, with 1.4% of the stock short sold. Institutional investors have increased their holdings, with Pullen Investment Management growing its position by 205.7%. Analysts have upgraded the stock, raising the price target from $30 to $35. Allient recently announced a quarterly dividend of $0.03 per share, with a yield of 0.53%.
Allient Inc. (NASDAQ:ALNT - Get Free Report) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 190,600 shares, a decline of 22.8% from the February 28th total of 246,800 shares. Based on an average daily volume of 86,200 shares, the short-interest ratio is presently 2.2 days. Approximately 1.4% of the company's stock are short sold.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. Pullen Investment Management LLC grew its position in shares of Allient by 205.7% during the 4th quarter. Pullen Investment Management LLC now owns 47,528 shares of the company's stock valued at $1,154,000 after buying an additional 31,982 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Allient in the fourth quarter valued at approximately $41,000. Man Group plc boosted its stake in Allient by 77.0% in the fourth quarter. Man Group plc now owns 44,285 shares of the company's stock valued at $1,075,000 after acquiring an additional 19,263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Allient by 4.8% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,346 shares of the company's stock valued at $203,000 after purchasing an additional 380 shares during the last quarter. Finally, Lazard Asset Management LLC raised its position in shares of Allient by 84.6% during the 4th quarter. Lazard Asset Management LLC now owns 54,769 shares of the company's stock worth $1,329,000 after purchasing an additional 25,101 shares during the period. 61.57% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
ALNT has been the subject of a number of recent analyst reports. Northland Securities raised shares of Allient from a "market perform" rating to an "outperform" rating and raised their price target for the company from $30.00 to $35.00 in a report on Tuesday, February 11th. Northland Capmk raised shares of Allient from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, February 11th.
Check Out Our Latest Stock Analysis on Allient
Allient Stock Down 3.4 %
NASDAQ:ALNT opened at $22.49 on Monday. The stock has a 50-day simple moving average of $24.88 and a 200 day simple moving average of $23.15. Allient has a one year low of $16.91 and a one year high of $35.85. The company has a market capitalization of $378.84 million, a price-to-earnings ratio of 25.56 and a beta of 1.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10.
Allient (NASDAQ:ALNT - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $122.01 million during the quarter, compared to analyst estimates of $119.72 million. Allient had a return on equity of 10.80% and a net margin of 2.64%. Sell-side analysts predict that Allient will post 1.43 EPS for the current fiscal year.
Allient Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.12 annualized dividend and a yield of 0.53%. Allient's payout ratio is 15.00%.
About Allient
(Get Free Report)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.
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