Short Interest in Allient Inc. (NASDAQ:ALNT) Drops By 33.6%

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 170,400 shares, a drop of 33.6% from the October 31st total of 256,700 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 149,400 shares, the short-interest ratio is currently 1.1 days.

Allient Stock Performance

NASDAQ:ALNT opened at $25.97 on Friday. 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 firm’s fifty day simple moving average is $20.44 and its 200 day simple moving average is $23.01. The stock has a market cap of $437.46 million, a P/E ratio of 29.51 and a beta of 1.51. Allient has a twelve month low of $16.91 and a twelve month high of $36.33.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $124.28 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. As a group, research analysts predict that Allient will post 1.43 EPS for the current year.

Allient Announces Dividend

The company also recently announced 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. This represents a $0.12 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Thursday, November 21st. Allient’s dividend payout ratio is currently 13.64%.

Analyst Ratings Changes

A number of research firms recently commented on ALNT. Roth Mkm lowered their price target on shares of Allient from $39.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Craig Hallum lowered their price objective 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. 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.

Institutional Investors Weigh In On Allient

Several hedge funds have recently made changes to their positions in ALNT. FMR LLC boosted its stake in Allient by 843.2% during the third quarter. FMR LLC now owns 1,153,537 shares of the company’s stock worth $21,906,000 after acquiring an additional 1,031,243 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Allient by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 728,813 shares of the company’s stock worth $26,004,000 after purchasing an additional 9,680 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Allient by 5.2% in 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. Geode Capital Management LLC grew its stake in shares of Allient by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 344,166 shares of the company’s stock worth $6,537,000 after buying an additional 5,975 shares during the last quarter. Finally, State Street Corp increased its position in Allient by 0.8% during the 3rd quarter. State Street Corp now owns 306,239 shares of the company’s stock valued at $5,815,000 after buying an additional 2,453 shares in the last quarter. 61.57% of the stock is currently owned by 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.