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

Allient Inc. (NASDAQ:ALNT) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 190,600 shares, a decline of 22.8% from the February 28th total of 246,800 shares. Based on an average daily volume of 86,200 shares, the short-interest ratio is currently 2.2 days. Currently, 1.4% of the shares of the stock are short sold.

Allient Stock Performance

NASDAQ ALNT opened at $21.98 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. The company has a market cap of $372.52 million, a P/E ratio of 24.98 and a beta of 1.59. The stock has a 50-day moving average of $24.80 and a two-hundred day moving average of $23.17. Allient has a 1-year low of $16.91 and a 1-year high of $35.85.

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

Allient Dividend Announcement

The firm 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 (DPR) is presently 15.00%.

Hedge Funds Weigh In On Allient

Hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Allient by 843.2% in the 3rd quarter. FMR LLC now owns 1,153,537 shares of the company’s stock valued at $21,906,000 after acquiring an additional 1,031,243 shares during the period. Juniper Investment Company LLC raised its stake in shares of Allient by 14.6% during the fourth quarter. Juniper Investment Company LLC now owns 869,149 shares of the company’s stock worth $21,103,000 after purchasing an additional 110,497 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Allient by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 702,254 shares of the company’s stock worth $17,051,000 after purchasing an additional 3,326 shares during the period. Allspring Global Investments Holdings LLC grew its position in Allient by 23,963.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock valued at $9,948,000 after buying an additional 404,505 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Allient by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 345,726 shares of the company’s stock valued at $8,396,000 after buying an additional 1,560 shares during the period. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.