Allient Inc. (NASDAQ:ALNT) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 56.2% in the third quarter, Holdings Channel reports. The firm owned 1,688 shares of the company’s stock after selling 2,168 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Allient were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of Allient by 798.2% during the second quarter. CWM LLC now owns 1,006 shares of the company’s stock worth $25,000 after purchasing an additional 894 shares during the last quarter. Isthmus Partners LLC increased its stake in shares of Allient by 0.7% during the second quarter. Isthmus Partners LLC now owns 98,165 shares of the company’s stock valued at $25,000 after acquiring an additional 653 shares during the period. Shell Asset Management Co. acquired a new position in shares of Allient during the first quarter valued at approximately $35,000. Ameritas Investment Partners Inc. bought a new stake in Allient during the first quarter worth approximately $49,000. Finally, EntryPoint Capital LLC bought a new stake in Allient during the first quarter worth approximately $70,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Allient Price Performance

NASDAQ:ALNT opened at $18.78 on Wednesday. The firm has a market cap of $316.26 million, a PE ratio of 16.19 and a beta of 1.51. Allient Inc. has a 12 month low of $16.91 and a 12 month high of $36.33. The company has a quick ratio of 2.00, a current ratio of 3.90 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $19.00 and its two-hundred day moving average price is $23.68.

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). The business had revenue of $136.03 million for the quarter, compared to the consensus estimate of $137.55 million. Allient had a return on equity of 13.04% and a net margin of 3.35%. During the same period last year, the firm earned $0.58 earnings per share. On average, equities analysts anticipate that Allient Inc. will post 1.29 EPS for the current fiscal year.

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.