Russell Investments Group Ltd. Reduces Holdings in Allient Inc. (NASDAQ:ALNT)

Russell Investments Group Ltd. reduced its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 17.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,991 shares of the company’s stock after selling 11,347 shares during the period. Russell Investments Group Ltd. owned about 0.33% of Allient worth $1,335,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALNT. New York State Teachers Retirement System bought a new stake in Allient during the 4th quarter worth approximately $32,000. Hurley Capital LLC purchased a new position in shares of Allient during the 4th quarter valued at $38,000. Globeflex Capital L P bought a new position in Allient in the 4th quarter worth $118,000. Alliancebernstein L.P. purchased a new stake in Allient in the 4th quarter worth $211,000. Finally, one8zero8 LLC bought a new stake in Allient during the fourth quarter valued at about $214,000. 61.57% of the stock is currently owned by institutional investors.

Allient Stock Down 0.6 %

NASDAQ:ALNT opened at $21.02 on Monday. The company’s 50-day simple moving average is $23.39 and its 200-day simple moving average is $23.32. The stock has a market capitalization of $356.25 million, a P/E ratio of 23.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10. Allient Inc. has a fifty-two week low of $16.91 and a fifty-two week high of $32.00.

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

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.57%. Allient’s dividend payout ratio (DPR) is presently 15.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Northland Securities upgraded shares of Allient from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $30.00 to $35.00 in a research report on Tuesday, February 11th. Northland Capmk upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report 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.