Dynamic Technology Lab Private Ltd Makes New Investment in Allient Inc. (NASDAQ:ALNT)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the third quarter, HoldingsChannel.com reports. The fund purchased 20,323 shares of the company’s stock, valued at approximately $386,000.

Other large investors have also recently made changes to their positions in the company. Fisher Asset Management LLC boosted its holdings in Allient by 10.8% in the third quarter. Fisher Asset Management LLC now owns 44,248 shares of the company’s stock worth $840,000 after purchasing an additional 4,311 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Allient in the 3rd quarter worth $770,000. Meixler Investment Management Ltd. grew its holdings in shares of Allient by 11.6% in the third quarter. Meixler Investment Management Ltd. now owns 11,287 shares of the company’s stock worth $214,000 after acquiring an additional 1,172 shares during the period. Diamond Hill Capital Management Inc. increased its position in Allient by 29.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 238,844 shares of the company’s stock valued at $4,536,000 after acquiring an additional 54,005 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in Allient by 7.9% in the third quarter. Pinnacle Associates Ltd. now owns 267,806 shares of the company’s stock worth $5,086,000 after purchasing an additional 19,622 shares during the last quarter. 61.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Allient Stock Up 1.2 %

Shares of ALNT opened at $25.97 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. The stock has a market capitalization of $437.46 million, a price-to-earnings ratio of 29.51 and a beta of 1.51. Allient Inc. has a 1 year low of $16.91 and a 1 year high of $36.33. The business’s 50 day simple moving average is $20.44 and its 200-day simple moving average is $23.01.

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

Allient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend is Thursday, November 21st. Allient’s dividend payout ratio (DPR) is presently 13.64%.

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.