Allspring Global Investments Holdings LLC Sells 87,070 Shares of Allient Inc. $ALNT

Allspring Global Investments Holdings LLC cut its stake in shares of Allient Inc. (NASDAQ:ALNT) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 306,325 shares of the company’s stock after selling 87,070 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 1.81% of Allient worth $16,465,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Allient by 7.2% during the third quarter. Vanguard Group Inc. now owns 984,815 shares of the company’s stock valued at $44,070,000 after purchasing an additional 66,552 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Allient by 20.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock valued at $13,009,000 after acquiring an additional 49,384 shares during the period. Portolan Capital Management LLC acquired a new stake in Allient in the third quarter valued at approximately $11,530,000. Gamco Investors INC. ET AL increased its holdings in shares of Allient by 2.3% during the second quarter. Gamco Investors INC. ET AL now owns 175,110 shares of the company’s stock valued at $6,358,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Allient by 1,291.3% during the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock worth $6,883,000 after purchasing an additional 142,763 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALNT has been the topic of a number of recent research reports. Roth Mkm increased their target price on Allient from $56.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research note on Wednesday, January 21st. Lake Street Capital initiated coverage on shares of Allient in a report on Wednesday, February 18th. They set a “buy” rating and a $79.00 price objective on the stock. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Craig Hallum restated a “buy” rating and issued a $75.00 target price on shares of Allient in a report on Monday, March 9th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.60.

Allient Price Performance

ALNT opened at $60.54 on Friday. Allient Inc. has a 1 year low of $19.25 and a 1 year high of $70.00. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.66 and a quick ratio of 2.08. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 45.86 and a beta of 1.53. The firm’s fifty day moving average price is $63.81 and its two-hundred day moving average price is $56.76.

Allient (NASDAQ:ALNT) last announced its earnings results on Thursday, March 5th. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.46 by $0.09. Allient had a net margin of 3.97% and a return on equity of 12.53%. The company had revenue of $143.35 million during the quarter, compared to the consensus estimate of $133.33 million. As a group, analysts anticipate that Allient Inc. will post 1.43 earnings per share for the current fiscal year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 20th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, March 20th. Allient’s dividend payout ratio (DPR) is 9.09%.

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.