Allient Inc. (NASDAQ:ALNT) Short Interest Update

Allient Inc. (NASDAQ:ALNT) was the recipient of a large 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 days-to-cover ratio is currently 1.9 days. Currently, 1.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

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

Allient Stock Down 1.5 %

Shares of Allient stock traded down $0.36 during trading hours on Friday, reaching $24.12. The company’s stock had a trading volume of 83,624 shares, compared to its average volume of 100,740. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10. The stock’s fifty day simple moving average is $19.29 and its two-hundred day simple moving average is $23.43. The company has a market capitalization of $406.18 million, a P/E ratio of 27.64 and a beta of 1.51. Allient has a one year low of $16.91 and a one year high of $36.33.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. Allient had a return on equity of 10.80% and a net margin of 2.64%. The company had revenue of $125.21 million for the quarter, compared to analyst estimates of $124.28 million. During the same quarter last year, the company earned $0.61 earnings per share. On average, research analysts forecast that Allient will post 1.39 earnings per share for the current year.

Allient Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.50%. Allient’s dividend payout ratio (DPR) is 13.64%.

Hedge Funds Weigh In On Allient

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC grew its position in shares of Allient by 798.2% during the 2nd quarter. CWM LLC now owns 1,006 shares of the company’s stock valued at $25,000 after purchasing an additional 894 shares in the last quarter. Isthmus Partners LLC grew its position in Allient by 0.7% during the 2nd quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock worth $25,000 after acquiring an additional 653 shares during the last quarter. Shell Asset Management Co. bought a new stake in Allient in the first quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new position in shares of Allient in the first quarter worth approximately $49,000. Finally, Copeland Capital Management LLC bought a new position in shares of Allient in the third quarter worth approximately $50,000. 61.57% of the stock is 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.