Zacks Investment Research downgraded shares of Allied Motion Technologies, Inc. (NASDAQ:AMOT) from a hold rating to a strong sell rating in a report released on Friday morning.
According to Zacks, “Hathaway Corporation is engaged in the business of designing, manufacturing and selling advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. The company’s power instrumentation products helps ensure that electric utilities provide high quality service to consumers of electricity. The company’s equipment assists the electric power system operators in operating and maintaining proper system performance. “
Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of Allied Motion Technologies from a hold rating to a buy rating in a research note on Thursday, July 13th. TheStreet cut shares of Allied Motion Technologies from a b rating to a c+ rating in a research note on Tuesday, August 8th.
Allied Motion Technologies (NASDAQ AMOT) traded up 7.22% on Friday, hitting $24.95. 20,880 shares of the company’s stock traded hands. The stock has a 50-day moving average of $27.19 and a 200-day moving average of $24.58. Allied Motion Technologies has a one year low of $15.54 and a one year high of $30.31. The stock has a market cap of $235.83 million, a PE ratio of 26.89 and a beta of 1.88.
Allied Motion Technologies (NASDAQ:AMOT) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.07. Allied Motion Technologies had a net margin of 3.41% and a return on equity of 10.65%. The business had revenue of $60.34 million for the quarter, compared to analysts’ expectations of $62.17 million. On average, equities analysts forecast that Allied Motion Technologies will post $1.00 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Thursday, August 17th will be paid a dividend of $0.025 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.10 annualized dividend and a yield of 0.40%. Allied Motion Technologies’s dividend payout ratio is presently 11.36%.
In related news, Director Richard D. /Co/ Smith sold 3,016 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $27.85, for a total transaction of $83,995.60. Following the completion of the sale, the director now owns 47,429 shares of the company’s stock, valued at approximately $1,320,897.65. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard D. /Co/ Smith sold 3,900 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $24.93, for a total transaction of $97,227.00. Following the sale, the director now directly owns 47,429 shares of the company’s stock, valued at approximately $1,182,404.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,916 shares of company stock valued at $540,273. 30.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors raised its position in Allied Motion Technologies by 11.8% in the second quarter. Nationwide Fund Advisors now owns 4,778 shares of the technology company’s stock valued at $130,000 after buying an additional 505 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Allied Motion Technologies by 7.0% in the second quarter. The Manufacturers Life Insurance Company now owns 6,144 shares of the technology company’s stock valued at $167,000 after buying an additional 401 shares during the last quarter. Strs Ohio raised its position in Allied Motion Technologies by 5.9% in the second quarter. Strs Ohio now owns 7,200 shares of the technology company’s stock valued at $195,000 after buying an additional 400 shares during the last quarter. Citigroup Inc. raised its position in Allied Motion Technologies by 130.8% in the second quarter. Citigroup Inc. now owns 7,449 shares of the technology company’s stock valued at $203,000 after buying an additional 4,222 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in Allied Motion Technologies during the second quarter valued at $207,000. Institutional investors own 39.42% of the company’s stock.
About Allied Motion Technologies
Allied Motion Technologies Inc designs, manufactures and sells precision and specialty motion control components and systems used in a range of industries. The Company serves various markets, including vehicle, medical, aerospace and defense, electronics and industrial. It focuses on motion control applications.
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