Allient Inc. (NASDAQ:ALNT) Short Interest Up 64.1% in October

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 256,700 shares, a growth of 64.1% from the October 15th total of 156,400 shares. Based on an average daily volume of 138,200 shares, the short-interest ratio is currently 1.9 days. Currently, 1.8% of the shares of the stock are short sold.

Allient Price Performance

ALNT stock opened at $24.50 on Thursday. Allient has a 52-week low of $16.91 and a 52-week high of $36.33. The firm has a market capitalization of $412.58 million, a price-to-earnings ratio of 27.40 and a beta of 1.51. The firm has a 50 day moving average price of $19.14 and a 200-day moving average price of $23.42. 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) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.10. Allient had a net margin of 2.64% and a return on equity of 10.80%. The business had revenue of $125.21 million for the quarter, compared to the consensus estimate of $124.28 million. During the same period last year, the firm earned $0.61 earnings per share. Equities research analysts forecast that Allient will post 1.39 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a $0.03 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. Allient’s payout ratio is presently 13.64%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Allient

Large investors have recently made changes to their positions in the business. FMR LLC lifted its stake in Allient by 843.2% in the 3rd quarter. FMR LLC now owns 1,153,537 shares of the company’s stock worth $21,906,000 after purchasing an additional 1,031,243 shares in the last quarter. Juniper Investment Company LLC purchased a new stake in shares of Allient during the first quarter worth $27,069,000. Vanguard Group Inc. boosted its holdings in Allient by 1.3% in the first 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 period. Dimensional Fund Advisors LP grew its stake in Allient by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 655,029 shares of the company’s stock worth $16,552,000 after purchasing an additional 32,455 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Allient by 7.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 267,806 shares of the company’s stock valued at $5,086,000 after purchasing an additional 19,622 shares in the last quarter. 61.57% of the stock is 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.