Principal Financial Group Inc. Acquires New Stake in Allient Inc. $ALNT

Principal Financial Group Inc. bought a new position in shares of Allient Inc. (NASDAQ:ALNT) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 14,447 shares of the company’s stock, valued at approximately $647,000. Principal Financial Group Inc. owned 0.09% of Allient at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue acquired a new position in shares of Allient in the third quarter worth approximately $41,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Allient by 173.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after buying an additional 633 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in Allient in the third quarter worth $58,000. AlphaQuest LLC bought a new stake in Allient in the 3rd quarter valued at about $88,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Allient by 162.3% during the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock valued at $80,000 after acquiring an additional 1,355 shares in the last quarter. Institutional investors and hedge funds own 61.57% of the company’s stock.

Insider Buying and Selling at Allient

In other news, VP Ashish Bendre sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total transaction of $836,000.00. Following the completion of the sale, the vice president owned 23,166 shares in the company, valued at $1,210,423.50. This trade represents a 40.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALNT shares. Lake Street Capital started coverage on shares of Allient in a report on Wednesday. They issued a “buy” rating and a $79.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Roth Mkm raised their price target on shares of Allient from $49.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $57.50.

Allient Price Performance

Shares of NASDAQ:ALNT opened at $67.09 on Thursday. The company’s 50-day moving average is $59.95 and its 200 day moving average is $52.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.01 and a current ratio of 3.53. The company has a market capitalization of $1.14 billion, a P/E ratio of 59.90 and a beta of 1.53. Allient Inc. has a fifty-two week low of $19.25 and a fifty-two week high of $70.00.

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.