Diamond Hill Capital Management LLC Investment Advisor Purchases Shares of 38,779 Allient Inc. $ALNT

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of Allient Inc. (NASDAQ:ALNT) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 38,779 shares of the company’s stock, valued at approximately $3,992,000.

Other hedge funds have also recently bought and sold shares of the company. Arax Advisory Partners boosted its position in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Allient in the 3rd quarter worth approximately $34,000. Larson Financial Group LLC raised its holdings in shares of Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after purchasing an additional 209 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Allient during the fourth quarter valued at approximately $67,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Trading Up 1.4%

Allient stock opened at $113.02 on Tuesday. The company’s fifty day simple moving average is $94.34 and its 200-day simple moving average is $76.94. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. Allient Inc. has a 12 month low of $41.75 and a 12 month high of $118.67. The stock has a market cap of $1.92 billion, a P/E ratio of 66.48 and a beta of 1.61.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.61 by $0.19. Allient had a return on equity of 13.55% and a net margin of 4.98%.The business had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. As a group, sell-side analysts forecast that Allient Inc. will post 2.72 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Allient’s payout ratio is currently 9.41%.

Insider Activity at Allient

In other news, CEO Richard S. Warzala sold 70,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the transaction, the chief executive officer owned 1,499,106 shares in the company, valued at $170,268,459.48. This represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALNT. Wall Street Zen upgraded Allient from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Jefferies Financial Group set a $80.00 price target on Allient in a research report on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $84.00.

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.