Short Interest in Allient Inc. (NASDAQ:ALNT) Drops By 22.8%

Allient Inc. (NASDAQ:ALNT) saw a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 190,600 shares, a drop of 22.8% from the February 28th total of 246,800 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 86,200 shares, the days-to-cover ratio is currently 2.2 days.

Allient Stock Down 2.3 %

Allient stock opened at $21.98 on Tuesday. Allient has a one year low of $16.91 and a one year high of $35.85. The stock has a market cap of $372.52 million, a PE ratio of 24.98 and a beta of 1.59. 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 has a fifty day moving average of $24.80 and a 200 day moving average of $23.17.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Allient had a net margin of 2.64% and a return on equity of 10.80%. The firm had revenue of $122.01 million during the quarter, compared to analysts’ expectations of $119.72 million. As a group, sell-side analysts predict that Allient will post 1.43 EPS for the current year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Thursday, March 20th. Allient’s dividend payout ratio is currently 15.00%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Northland Securities raised Allient from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $35.00 in a report on Tuesday, February 11th. Northland Capmk upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th.

Institutional Trading of Allient

Several institutional investors have recently added to or reduced their stakes in ALNT. Allspring Global Investments Holdings LLC raised its holdings in Allient by 23,963.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock worth $9,948,000 after purchasing an additional 404,505 shares in the last quarter. Barclays PLC raised its stake in shares of Allient by 61.2% during the 3rd quarter. Barclays PLC now owns 45,362 shares of the company’s stock worth $862,000 after acquiring an additional 17,216 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Allient by 74.7% during the 3rd quarter. Franklin Resources Inc. now owns 28,034 shares of the company’s stock worth $516,000 after acquiring an additional 11,986 shares in the last quarter. Geode Capital Management LLC lifted its position in Allient by 1.8% during the third quarter. Geode Capital Management LLC now owns 344,166 shares of the company’s stock valued at $6,537,000 after acquiring an additional 5,975 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Allient in the third quarter valued at approximately $386,000. Institutional investors own 61.57% of the company’s stock.

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.