Allient Inc. (NASDAQ:ALNT) Short Interest Down 5.9% in September

Allient Inc. (NASDAQ:ALNT) saw a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 177,500 shares, a drop of 5.9% from the August 31st total of 188,600 shares. Based on an average daily volume of 125,500 shares, the short-interest ratio is presently 1.4 days. Currently, 1.3% of the company’s shares are sold short.

Allient Price Performance

Shares of NASDAQ ALNT opened at $18.06 on Wednesday. The firm has a 50-day moving average of $21.93 and a two-hundred day moving average of $26.35. The company has a market capitalization of $302.97 million, a price-to-earnings ratio of 11.96 and a beta of 1.51. The company has a current ratio of 3.90, a quick ratio of 2.00 and a debt-to-equity ratio of 0.89. Allient has a twelve month low of $18.04 and a twelve month high of $36.33.

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

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, August 22nd. Allient’s payout ratio is 7.95%.

Institutional Trading of Allient

A number of hedge funds have recently made changes to their positions in the stock. Juniper Investment Company LLC acquired a new stake in Allient in the first quarter valued at approximately $27,069,000. Vanguard Group Inc. lifted its holdings in shares of Allient by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 728,813 shares of the company’s stock worth $26,004,000 after acquiring an additional 9,680 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Allient by 5.2% during the second quarter. Dimensional Fund Advisors LP now owns 655,029 shares of the company’s stock valued at $16,552,000 after purchasing an additional 32,455 shares in the last quarter. Wasatch Advisors LP acquired a new stake in Allient in the 1st quarter valued at $20,914,000. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Allient in the 1st quarter worth about $9,610,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.