Algert Global LLC Boosts Holdings in Allient Inc. (NASDAQ:ALNT)

Algert Global LLC lifted its position in shares of Allient Inc. (NASDAQ:ALNT) by 5.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,993 shares of the company’s stock after purchasing an additional 689 shares during the period. Algert Global LLC’s holdings in Allient were worth $354,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Allient in the 1st quarter valued at $1,110,000. Fisher Asset Management LLC purchased a new position in shares of Allient in the 4th quarter valued at approximately $1,003,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Allient in the first quarter valued at approximately $1,332,000. Wasatch Advisors LP acquired a new position in shares of Allient in the first quarter valued at approximately $20,914,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Allient during the first quarter worth approximately $2,461,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ALNT shares. Northland Securities lowered their price objective on shares of Allient from $35.00 to $30.00 and set a “market perform” rating on the stock in a research report on Friday, August 9th. Craig Hallum dropped their price target on shares of Allient from $41.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Roth Mkm cut their price target on shares of Allient from $39.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 13th.

Allient Stock Down 2.5 %

Allient stock opened at $17.64 on Wednesday. The stock’s 50 day moving average price is $20.91 and its 200 day moving average price is $25.84. The company has a market cap of $295.93 million, a PE ratio of 11.68 and a beta of 1.50. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.90 and a quick ratio of 2.00. Allient Inc. has a 1-year low of $17.36 and a 1-year high of $36.33.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). Allient had a return on equity of 13.04% and a net margin of 3.35%. The company had revenue of $136.03 million for the quarter, compared to analyst estimates of $137.55 million. During the same period last year, the company earned $0.58 earnings per share. On average, sell-side analysts predict that Allient Inc. will post 1.29 EPS for the current fiscal year.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.68%. Allient’s payout ratio is 7.95%.

Allient 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.