Howe & Rusling Inc. Lowers Stake in Allient Inc. $ALNT

Howe & Rusling Inc. reduced its position in shares of Allient Inc. (NASDAQ:ALNT) by 27.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,631 shares of the company’s stock after selling 16,000 shares during the quarter. Howe & Rusling Inc.’s holdings in Allient were worth $2,238,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ALNT. Arax Advisory Partners boosted its stake in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Allient during the 3rd quarter worth about $34,000. Larson Financial Group LLC boosted its stake 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 acquiring an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of Allient by 22.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after acquiring an additional 209 shares in the last quarter. Finally, State of Wyoming purchased a new stake in shares of Allient during the 4th quarter worth about $67,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Trading Up 0.7%

ALNT opened at $95.73 on Wednesday. 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 company’s 50 day simple moving average is $73.76 and its two-hundred day simple moving average is $65.25. Allient Inc. has a 1-year low of $33.14 and a 1-year high of $97.97. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 66.94 and a beta of 1.63.

Allient (NASDAQ:ALNT) last released its 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 business 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%. Analysts expect that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were issued a $0.04 dividend. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s payout ratio is 11.19%.

Analyst Upgrades and Downgrades

ALNT has been the topic of several recent analyst reports. Jefferies Financial Group set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th. Wall Street Zen raised shares of Allient from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings lowered shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th. Finally, Lake Street Capital assumed coverage on shares of Allient in a research note on Wednesday, February 18th. They set a “buy” rating and a $79.00 target price on the stock. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.