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

Allient Inc. (NASDAQ:ALNT) was the recipient of a significant drop in short interest in 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. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 125,500 shares, the days-to-cover ratio is currently 1.4 days.

Allient Trading Up 0.9 %

NASDAQ:ALNT opened at $19.30 on Monday. Allient has a 1 year low of $18.17 and a 1 year high of $36.33. The stock has a market cap of $323.78 million, a price-to-earnings ratio of 12.78 and a beta of 1.51. The business has a fifty day moving average of $22.11 and a 200-day moving average of $26.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.00 and a current ratio of 3.90.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.11). The business had revenue of $136.03 million during the quarter, compared to analysts’ expectations of $137.55 million. Allient had a return on equity of 13.04% and a net margin of 3.35%. During the same period in the prior year, the company posted $0.58 earnings per share. Equities analysts predict that Allient will post 1.29 earnings per share for the current year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, August 22nd. Allient’s payout ratio is currently 7.95%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ALNT. Pullen Investment Management LLC lifted its position in shares of Allient by 3.2% in the 2nd quarter. Pullen Investment Management LLC now owns 13,555 shares of the company’s stock worth $343,000 after acquiring an additional 415 shares during the period. Isthmus Partners LLC grew its stake in Allient by 0.7% in the second quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock valued at $25,000 after acquiring an additional 653 shares during the period. Algert Global LLC grew its stake in Allient by 5.2% in the second quarter. Algert Global LLC now owns 13,993 shares of the company’s stock valued at $354,000 after acquiring an additional 689 shares during the period. CWM LLC boosted its position in shares of Allient by 798.2% during the second quarter. CWM LLC now owns 1,006 shares of the company’s stock worth $25,000 after buying an additional 894 shares during the period. Finally, Shell Asset Management Co. acquired a new position in shares of Allient during the first quarter worth about $35,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ALNT shares. Craig Hallum reduced their target price on Allient from $41.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 9th. Roth Mkm lowered their price target on Allient from $39.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Northland Securities reduced their price objective 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.