Vanguard Group Inc. Raises Stock Position in Allient Inc. $ALNT

Vanguard Group Inc. grew its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 2.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,011,253 shares of the company’s stock after purchasing an additional 26,438 shares during the quarter. Vanguard Group Inc. owned approximately 5.97% of Allient worth $54,355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALNT. Advisory Services Network LLC acquired a new stake in Allient during the 3rd quarter worth $34,000. State of Alaska Department of Revenue acquired a new stake in Allient during the 3rd quarter worth $41,000. New York State Teachers Retirement System acquired a new stake in Allient during the 3rd quarter worth $58,000. Tower Research Capital LLC TRC boosted its stake in Allient by 162.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock worth $80,000 after purchasing an additional 1,355 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in Allient during the 3rd quarter worth $88,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Trading Down 3.5%

Shares of ALNT stock opened at $61.33 on Friday. The company’s 50-day moving average price is $66.49 and its 200-day moving average price is $61.12. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 42.89 and a beta of 1.65. Allient Inc. has a twelve month low of $29.57 and a twelve month high of $80.39.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate 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 net margin of 4.25% and a return on equity of 12.47%. As a group, equities analysts predict that Allient Inc. will post 2.47 earnings per share for the current year.

Allient Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. 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. Allient’s dividend payout ratio is presently 11.19%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALNT. Roth Mkm reaffirmed a “buy” rating and set a $70.00 target price on shares of Allient in a research note on Friday, May 8th. Wall Street Zen cut shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. Craig Hallum reaffirmed a “buy” rating and set a $75.00 target price on shares of Allient in a research note on Monday, March 9th. JPMorgan Chase & Co. lowered their target price on shares of Allient from $70.00 to $65.00 and set a “neutral” rating on the stock 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. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $72.25.

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.