Michael R. Leach, the Chief Financial Officer of Allient Inc (NASDAQ:ALNT), has recently sold shares of the company's common stock, according to the latest filings with the Securities and Exchange Commission. The transaction, which took place on March 13, involved the sale of 5,000 shares at a weighted average price of $32.993 per share, resulting in a total transaction value of approximately $164,965.
The prices at which the shares were sold ranged from $32.9281 to $33.135. This information was disclosed in a footnote to the filing, which also indicated that the reported price was a weighted average. The specific number of shares sold at each price within this range is available upon request from Allient Inc., its security holders, or the SEC staff.
Following this sale, Leach still retains a significant stake in the company, with 87,089 shares of Allient Inc.'s common stock held directly. Additionally, there are 2,242 shares owned indirectly through an ESOP Trust, as stated in the non-derivative holdings section of the SEC filing.
Allient Inc., which is in the business of manufacturing instruments for measuring and testing electricity and electrical signals, has its headquarters in Amherst, NY. The company, formerly known as Allied Motion Technologies (NASDAQ:ALNT) Inc., has undergone several name changes in its history, with its roots dating back to Hathaway Instruments Inc.
Investors often monitor insider transactions as they can provide insights into executives' confidence in the company's prospects. The sale by Leach is a notable event, given his role as CFO and the size of the transaction. Allient Inc.'s shareholders and potential investors will likely follow any further insider transactions closely for signs of the company's financial health and future direction.
InvestingPro Insights
As market watchers evaluate the recent insider sale by Allient Inc's CFO, Michael R. Leach, they might find additional context in the company's current financial metrics and analyst expectations. Allient Inc. (NASDAQ:ALNT) holds a market capitalization of $546.42 million, indicating its position in the mid-cap segment of the market, which often attracts investors looking for a blend of stability and growth potential.
The company's P/E ratio stands at 21.61, which, when compared to its near-term earnings growth, suggests that the stock may be trading at a reasonable valuation. This is underscored by a PEG ratio of 0.63 for the last twelve months as of Q4 2023, which could signal that the stock's price is potentially undervalued relative to its earnings growth trajectory. Despite some analysts revising their earnings expectations downwards for the upcoming period, ALNT has demonstrated a robust revenue growth of 15.04% over the last twelve months, which might reflect underlying business strength.
From an investment standpoint, Allient Inc. has shown a strong return over the last month, with a 16.03% price total return, which could interest investors looking for recent positive momentum. Moreover, as a sign of its financial prudence and shareholder-friendly approach, the company has not only maintained but also raised its dividend for 14 consecutive years, with the latest dividend growth at 20.0%.
For those seeking further insights and analysis, Allient Inc. offers additional InvestingPro Tips, which include the company's liquidity position, with liquid assets exceeding short-term obligations, and its stock price volatility, which might be a consideration for risk-averse investors. There are currently 9 additional InvestingPro Tips available for Allient Inc., providing a deeper dive into the company's financial health and market performance. Interested investors can access these insights and receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription by using the coupon code PRONEWS24.
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