Allient Inc. (NASDAQ:ALNT) Sees Significant Decline in Short Interest

Allient Inc. (NASDAQ:ALNT) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 188,600 shares, a drop of 12.5% from the August 15th total of 215,600 shares. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 117,700 shares, the days-to-cover ratio is currently 1.6 days.

Allient Stock Performance

Shares of ALNT opened at $20.43 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.00 and a current ratio of 3.90. The stock has a 50-day moving average of $23.37 and a two-hundred day moving average of $27.20. The stock has a market cap of $342.73 million, a P/E ratio of 13.53 and a beta of 1.51. Allient has a one year low of $18.17 and a one year high of $36.33.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, August 7th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). Allient had a return on equity of 13.04% and a net margin of 3.35%. The firm had revenue of $136.03 million for the quarter, compared to analyst estimates of $137.55 million. During the same period last year, the firm earned $0.58 EPS. As a group, research analysts predict that Allient will post 1.29 EPS for the current year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.59%. Allient’s payout ratio is currently 7.95%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Craig Hallum reduced their target price on Allient from $41.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Roth Mkm decreased their price objective on shares of Allient from $39.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Northland Securities lowered their target price on shares of Allient from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, August 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shell Asset Management Co. purchased a new position in shares of Allient during the 1st quarter valued at about $35,000. CWM LLC lifted its holdings in Allient by 798.2% in the second quarter. CWM LLC now owns 1,006 shares of the company’s stock valued at $25,000 after acquiring an additional 894 shares during the period. New York State Teachers Retirement System acquired a new position in Allient in the first quarter valued at approximately $41,000. Ameritas Investment Partners Inc. purchased a new stake in Allient in the 1st quarter worth approximately $49,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Allient during the 1st quarter worth approximately $57,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

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.