Handelsbanken Fonder AB Acquires 125,753 Shares of Allient Inc. $ALNT

Handelsbanken Fonder AB grew its holdings in Allient Inc. (NASDAQ:ALNT) by 95.6% during the 4th quarter, Holdings Channel reports. The fund owned 257,323 shares of the company’s stock after buying an additional 125,753 shares during the period. Handelsbanken Fonder AB’s holdings in Allient were worth $13,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ALNT. Advisory Services Network LLC bought a new position in Allient in the third quarter worth approximately $34,000. State of Alaska Department of Revenue bought a new position in Allient in the third quarter worth approximately $41,000. Tower Research Capital LLC TRC raised its position in Allient by 162.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock worth $80,000 after acquiring an additional 1,355 shares during the period. AlphaQuest LLC bought a new position in Allient in the third quarter worth approximately $88,000. Finally, State of Wyoming bought a new position in Allient in the second quarter worth approximately $93,000. 61.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALNT has been the topic of several recent research reports. Craig Hallum reiterated a “buy” rating and issued a $75.00 price target on shares of Allient in a research report on Monday, March 9th. Lake Street Capital initiated coverage on shares of Allient in a research note on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price objective for the company. Roth Mkm reissued a “buy” rating and issued a $70.00 price objective on shares of Allient in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on shares of Allient from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Friday, May 8th. Finally, Weiss Ratings cut shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.25.

Allient Stock Performance

Shares of NASDAQ ALNT opened at $62.84 on Friday. The firm has a fifty day moving average price of $66.42 and a 200-day moving average price of $61.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15. The stock has a market cap of $1.07 billion, a PE ratio of 43.94 and a beta of 1.65. Allient Inc. has a 1 year low of $29.57 and a 1 year high of $80.39.

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

Allient Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend 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 0.3%. Allient’s dividend payout ratio is 8.39%.

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.