8,993 Shares in Allient Inc. $ALNT Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC acquired a new stake in Allient Inc. (NASDAQ:ALNT) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 8,993 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Larson Financial Group LLC grew its position in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after buying an additional 413 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Allient in the 3rd quarter valued at approximately $34,000. Cullen Frost Bankers Inc. raised its position in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after acquiring an additional 209 shares during the period. AlphaQuest LLC bought a new position in Allient during the 3rd quarter worth approximately $88,000. Finally, Tower Research Capital LLC TRC grew its holdings in Allient by 162.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after purchasing an additional 1,355 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Stock Up 2.8%

Shares of Allient stock opened at $85.42 on Wednesday. The business’s 50 day simple moving average is $67.76 and its 200 day simple moving average is $62.34. Allient Inc. has a 52-week low of $30.07 and a 52-week high of $86.94. The firm has a market cap of $1.45 billion, a PE ratio of 59.73 and a beta of 1.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The firm had revenue of $138.92 million for the quarter, compared to analyst estimates of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. On average, analysts predict that Allient Inc. will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be issued a dividend of $0.04 per share. The ex-dividend date is Thursday, May 21st. This is a positive change from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s dividend payout ratio is currently 11.19%.

Analyst Ratings Changes

ALNT has been the subject of several recent analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $75.00 target price on shares of Allient in a research note on Monday, March 9th. Wall Street Zen lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. upgraded shares of Allient from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $65.00 to $80.00 in a research report on Tuesday, May 26th. Lake Street Capital started coverage on Allient in a research note on Wednesday, February 18th. They set a “buy” rating and a $79.00 price objective on the stock. Finally, Weiss Ratings lowered Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

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.