JPMorgan Chase & Co. Cuts Stock Position in Allient Inc. $ALNT

JPMorgan Chase & Co. lessened its stake in Allient Inc. (NASDAQ:ALNT) by 20.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,616 shares of the company’s stock after selling 10,056 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.23% of Allient worth $1,773,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALNT. Royal Bank of Canada increased its holdings in Allient by 19.8% in the 1st quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after acquiring an additional 18,416 shares in the last quarter. AQR Capital Management LLC increased its holdings in Allient by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock worth $1,179,000 after acquiring an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Allient by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after acquiring an additional 390 shares in the last quarter. Empowered Funds LLC increased its holdings in Allient by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock worth $404,000 after acquiring an additional 1,663 shares in the last quarter. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Price Performance

Allient stock opened at $59.27 on Wednesday. Allient Inc. has a 52-week low of $19.56 and a 52-week high of $70.00. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 44.90 and a beta of 1.53. The company has a fifty day simple moving average of $63.71 and a 200-day simple moving average of $57.02. The company has a quick ratio of 2.08, a current ratio of 3.66 and a debt-to-equity ratio of 0.60.

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

Allient Dividend Announcement

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

Analysts Set New Price Targets

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

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.