Short Interest in Allient Inc. (NASDAQ:ALNT) Expands By 118.3%

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 168,500 shares, a growth of 118.3% from the May 31st total of 77,200 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 84,900 shares, the short-interest ratio is presently 2.0 days.

Wall Street Analysts Forecast Growth

ALNT has been the subject of a number of recent research reports. Roth Mkm reduced their target price on shares of Allient from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Northland Securities reissued a “market perform” rating and issued a $40.00 price objective (down previously from $45.00) on shares of Allient in a research note on Thursday, March 7th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Juniper Investment Company LLC acquired a new position in Allient in the 1st quarter valued at about $27,069,000. Vanguard Group Inc. raised its stake in Allient by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 728,813 shares of the company’s stock valued at $26,004,000 after purchasing an additional 9,680 shares during the last quarter. Wasatch Advisors LP acquired a new position in Allient in the 1st quarter valued at about $20,914,000. Pinnacle Associates Ltd. acquired a new position in Allient in the 1st quarter valued at about $9,610,000. Finally, Russell Investments Group Ltd. acquired a new position in Allient in the 1st quarter valued at about $5,723,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Stock Performance

Shares of Allient stock opened at $25.27 on Friday. The firm’s fifty day simple moving average is $27.60 and its 200-day simple moving average is $29.31. The stock has a market capitalization of $423.93 million, a price-to-earnings ratio of 16.74 and a beta of 1.60. Allient has a 12 month low of $24.15 and a 12 month high of $40.59. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.56 and a quick ratio of 1.85.

Allient (NASDAQ:ALNT) last issued its earnings results on Wednesday, May 8th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.51 by $0.07. The company had revenue of $146.71 million for the quarter, compared to analyst estimates of $145.84 million. Allient had a net margin of 4.26% and a return on equity of 15.26%. As a group, equities analysts forecast that Allient will post 1.85 earnings per share for the current year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were given a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.47%. Allient’s dividend payout ratio is presently 7.95%.

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.