Allient (NASDAQ:ALNT) Announces Quarterly Earnings Results

Allient (NASDAQ:ALNT) posted its quarterly earnings results on Wednesday. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03, Zacks reports. Allient had a net margin of 2.64% and a return on equity of 10.80%.

Allient Stock Up 2.2 %

Shares of NASDAQ:ALNT traded up $0.52 during midday trading on Wednesday, hitting $23.74. 80,822 shares of the company’s stock were exchanged, compared to its average volume of 108,744. 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 stock has a 50 day moving average price of $25.29 and a 200-day moving average price of $22.76. The company has a market cap of $399.90 million, a PE ratio of 26.98 and a beta of 1.61. Allient has a 12 month low of $16.91 and a 12 month high of $36.33.

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 0.51%. Allient’s payout ratio is presently 13.64%.

Analysts Set New Price Targets

ALNT has been the subject of several research analyst reports. Northland Securities raised shares of Allient from a “market perform” rating to an “outperform” rating and lifted their price target for the company 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 report on Tuesday, February 11th.

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.