JPMorgan Chase & Co. Boosts Holdings in Allient Inc. (NASDAQ:ALNT)

JPMorgan Chase & Co. increased its holdings in Allient Inc. (NASDAQ:ALNT) by 4.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,737 shares of the company’s stock after purchasing an additional 3,733 shares during the period. JPMorgan Chase & Co. owned approximately 0.55% of Allient worth $2,252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Allient by 23,963.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock valued at $9,948,000 after purchasing an additional 404,505 shares during the period. Barclays PLC raised its holdings in Allient by 61.2% during the 3rd quarter. Barclays PLC now owns 45,362 shares of the company’s stock valued at $862,000 after buying an additional 17,216 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Allient by 74.7% in the third quarter. Franklin Resources Inc. now owns 28,034 shares of the company’s stock valued at $516,000 after acquiring an additional 11,986 shares during the period. Geode Capital Management LLC raised its stake in shares of Allient by 1.8% during the third quarter. Geode Capital Management LLC now owns 344,166 shares of the company’s stock valued at $6,537,000 after acquiring an additional 5,975 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Allient by 0.8% during the third quarter. State Street Corp now owns 306,239 shares of the company’s stock valued at $5,815,000 after acquiring an additional 2,453 shares during the last quarter. Institutional investors own 61.57% of the company’s stock.

Allient Trading Up 1.0 %

NASDAQ:ALNT opened at $21.10 on Thursday. The company has a 50-day moving average price of $23.06 and a 200-day moving average price of $23.30. The stock has a market cap of $357.60 million, a price-to-earnings ratio of 23.98 and a beta of 1.43. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85. Allient Inc. has a 12 month low of $16.91 and a 12 month high of $32.00.

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

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were given a dividend of $0.03 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.57%. Allient’s dividend payout ratio is presently 15.00%.

Analyst Upgrades and Downgrades

ALNT has been the topic of a number of research analyst reports. Northland Capmk upgraded Allient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Northland Securities upgraded Allient from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $30.00 to $35.00 in a research report on Tuesday, February 11th.

Allient Company 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.