Kingsview Wealth Management LLC Makes New Investment in Allient Inc. $ALNT

Kingsview Wealth Management LLC bought a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the 2nd quarter, HoldingsChannel reports. The firm bought 6,414 shares of the company’s stock, valued at approximately $660,000.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Allient during the second quarter worth approximately $128,774,000. Vanguard Group Inc. lifted its position in Allient by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock worth $54,355,000 after buying an additional 26,438 shares in the last quarter. State Street Corp lifted its position in Allient by 32.5% in the 4th quarter. State Street Corp now owns 392,261 shares of the company’s stock worth $21,084,000 after buying an additional 96,264 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Allient by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after buying an additional 10,173 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Allient by 111.5% during the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock valued at $20,884,000 after buying an additional 186,316 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Price Performance

NASDAQ ALNT opened at $92.86 on Monday. Allient Inc. has a fifty-two week low of $41.75 and a fifty-two week high of $118.67. The stock’s 50-day moving average is $95.18 and its two-hundred day moving average is $79.09. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95. The firm has a market cap of $1.58 billion, a P/E ratio of 54.62 and a beta of 1.61.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.19. The company had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. On average, analysts anticipate that Allient Inc. will post 2.73 earnings per share for the current fiscal year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Allient’s payout ratio is 9.41%.

Wall Street Analyst Weigh In

ALNT has been the topic of a number of research reports. Roth Capital reaffirmed a “buy” rating and issued a $70.00 price target on shares of Allient in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Macquarie Infrastructure set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat.com, Allient presently has a consensus rating of “Buy” and a consensus price target of $84.00.

Insider Transactions at Allient

In other Allient news, CEO Richard S. Warzala sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.00% of the stock is owned by insiders.

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.