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

Allient Inc. (NASDAQ:ALNT) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 170,400 shares, a decrease of 33.6% from the October 31st total of 256,700 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 149,400 shares, the short-interest ratio is presently 1.1 days.

Allient Trading Up 1.2 %

ALNT opened at $25.97 on Friday. Allient has a twelve month low of $16.91 and a twelve month high of $36.33. The company has a quick ratio of 2.18, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average of $20.44 and a 200-day moving average of $23.05. The stock has a market cap of $437.46 million, a PE ratio of 29.51 and a beta of 1.51.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data 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 company had revenue of $125.21 million during the quarter, compared to analysts’ expectations of $124.28 million. During the same period in the prior year, the company posted $0.61 earnings per share. On average, sell-side analysts predict that Allient will post 1.43 EPS for the current year.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Thursday, November 21st. Allient’s payout ratio is 13.64%.

Institutional Investors Weigh In On Allient

A number of large investors have recently bought and sold shares of ALNT. FMR LLC grew its holdings in Allient by 843.2% in the third 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 during the period. Diamond Hill Capital Management Inc. grew its holdings in Allient by 29.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 238,844 shares of the company’s stock worth $4,536,000 after purchasing an additional 54,005 shares during the period. Assenagon Asset Management S.A. grew its holdings in Allient by 56.4% in the third quarter. Assenagon Asset Management S.A. now owns 119,754 shares of the company’s stock worth $2,274,000 after purchasing an additional 43,167 shares during the period. Empowered Funds LLC acquired a new stake in Allient in the third quarter worth $770,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Allient in the first quarter worth $1,332,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALNT has been the subject of several research reports. Northland Securities dropped their price objective 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. Roth Mkm dropped their price target on shares of Allient from $39.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 13th. Finally, Craig Hallum dropped their price target on shares of Allient from $41.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

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.