Diamond Hill Capital Management Inc. Sells 47,307 Shares of Allient Inc. (NASDAQ:ALNT)

Diamond Hill Capital Management Inc. reduced its position in Allient Inc. (NASDAQ:ALNT) by 19.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 191,537 shares of the company’s stock after selling 47,307 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Allient were worth $4,651,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in Allient by 23,963.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock worth $9,948,000 after acquiring an additional 404,505 shares during the last quarter. Barclays PLC raised its holdings in Allient by 61.2% in the 3rd quarter. Barclays PLC now owns 45,362 shares of the company’s stock worth $862,000 after acquiring an additional 17,216 shares during the last quarter. Franklin Resources Inc. raised its holdings in Allient by 74.7% in the 3rd quarter. Franklin Resources Inc. now owns 28,034 shares of the company’s stock worth $516,000 after acquiring an additional 11,986 shares during the last quarter. Geode Capital Management LLC raised its holdings in Allient by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 344,166 shares of the company’s stock worth $6,537,000 after acquiring an additional 5,975 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Allient in the 3rd quarter worth approximately $386,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

Allient Price Performance

Shares of ALNT opened at $23.65 on Friday. The firm has a market cap of $398.38 million, a PE ratio of 26.88 and a beta of 1.59. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85. The firm has a fifty day simple moving average of $25.15 and a two-hundred day simple moving average of $22.88. Allient Inc. has a 1-year low of $16.91 and a 1-year high of $36.33.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, March 5th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $122.01 million during the quarter, compared to analyst estimates of $119.72 million. Allient had a net margin of 2.64% and a return on equity of 10.80%. On average, equities analysts anticipate that Allient Inc. will post 1.43 EPS for the current year.

Allient Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a $0.03 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.51%. Allient’s dividend payout ratio (DPR) is 15.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ALNT shares. Northland Securities upgraded shares of Allient from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $30.00 to $35.00 in a report on Tuesday, February 11th. Northland Capmk upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th.

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.