Allient Inc. (NASDAQ:ALNT) Short Interest Up 64.1% in October

Allient Inc. (NASDAQ:ALNT) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 256,700 shares, an increase of 64.1% from the October 15th total of 156,400 shares. Based on an average daily volume of 138,200 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.8% of the shares of the company are short sold.

Institutional Trading of Allient

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pullen Investment Management LLC increased its stake in shares of Allient by 3.2% in the second quarter. Pullen Investment Management LLC now owns 13,555 shares of the company’s stock valued at $343,000 after buying an additional 415 shares in the last quarter. Isthmus Partners LLC increased its holdings in shares of 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 purchasing an additional 653 shares in the last quarter. Algert Global LLC raised its position in Allient by 5.2% in the 2nd quarter. Algert Global LLC now owns 13,993 shares of the company’s stock worth $354,000 after purchasing an additional 689 shares during the last quarter. CWM LLC boosted its position in Allient by 798.2% in the 2nd quarter. CWM LLC now owns 1,006 shares of the company’s stock valued at $25,000 after buying an additional 894 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in shares of Allient during the first quarter worth $35,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALNT. Craig Hallum dropped their target price on Allient from $41.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Roth Mkm cut 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. Finally, Northland Securities decreased their price objective on shares of Allient from $35.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, August 9th.

Allient Stock Up 5.2 %

ALNT opened at $24.50 on Thursday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. Allient has a 12 month low of $16.91 and a 12 month high of $36.33. The stock’s 50 day moving average price is $19.14 and its 200 day moving average price is $23.42. The stock has a market cap of $412.58 million, a P/E ratio of 27.40 and a beta of 1.51.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. Allient had a return on equity of 10.80% and a net margin of 2.64%. The company had revenue of $125.21 million for the quarter, compared to analyst estimates of $124.28 million. During the same period in the previous year, the firm earned $0.61 earnings per share. As a group, research analysts predict that Allient will post 1.39 earnings per share for the current year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.49%. Allient’s payout ratio is presently 13.64%.

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.