Cornercap Investment Counsel Inc. Sells 8,309 Shares of Allient Inc. (NASDAQ:ALNT)

Cornercap Investment Counsel Inc. lessened its holdings in Allient Inc. (NASDAQ:ALNT) by 40.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,058 shares of the company’s stock after selling 8,309 shares during the period. Cornercap Investment Counsel Inc. owned about 0.07% of Allient worth $229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of ALNT. Juniper Investment Company LLC purchased a new stake in Allient in the first quarter valued at approximately $27,069,000. Vanguard Group Inc. grew its holdings in shares of Allient by 1.3% during the first quarter. Vanguard Group Inc. now owns 728,813 shares of the company’s stock worth $26,004,000 after buying an additional 9,680 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Allient by 5.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 655,029 shares of the company’s stock valued at $16,552,000 after acquiring an additional 32,455 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Allient by 7.9% in the third quarter. Pinnacle Associates Ltd. now owns 267,806 shares of the company’s stock valued at $5,086,000 after purchasing an additional 19,622 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Allient by 29.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 238,844 shares of the company’s stock worth $4,536,000 after acquiring an additional 54,005 shares during the last quarter. Institutional investors own 61.57% of the company’s stock.

Analysts Set New Price Targets

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

Allient Stock Performance

Allient stock opened at $24.34 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. Allient Inc. has a 12 month low of $16.91 and a 12 month high of $36.33. The stock’s 50-day moving average is $19.39 and its 200-day moving average is $23.31. The company has a market cap of $409.89 million, a price-to-earnings ratio of 27.55 and a beta of 1.51.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.10. The firm had revenue of $125.21 million for the quarter, compared to analysts’ expectations of $124.28 million. Allient had a net margin of 2.64% and a return on equity of 10.80%. During the same period in the prior year, the company posted $0.61 earnings per share. Equities analysts anticipate that Allient Inc. will post 1.43 earnings per share for the current year.

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a $0.03 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. Allient’s payout ratio is currently 13.64%.

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.