Allient Inc. $ALNT Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in Allient Inc. (NASDAQ:ALNT) by 30.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,056 shares of the company’s stock after selling 92,269 shares during the period. Allspring Global Investments Holdings LLC owned about 1.26% of Allient worth $12,649,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new position in shares of Allient during the fourth quarter worth about $8,982,000. Telemark Asset Management LLC acquired a new position in shares of Allient in the 4th quarter worth approximately $8,062,000. Marshall Wace LLP grew its position in shares of Allient by 1,291.3% in the 3rd quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock worth $6,883,000 after acquiring an additional 142,763 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Allient by 95.6% in the 4th quarter. Handelsbanken Fonder AB now owns 257,323 shares of the company’s stock valued at $13,831,000 after acquiring an additional 125,753 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Allient by 32.5% in the 4th quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after acquiring an additional 96,264 shares during the last quarter. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Trading Up 3.9%

Shares of ALNT stock opened at $89.97 on Wednesday. The firm has a market capitalization of $1.53 billion, a PE ratio of 62.92 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. Allient Inc. has a 1 year low of $36.85 and a 1 year high of $104.65. The stock has a fifty day moving average of $84.66 and a two-hundred day moving average of $71.84.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The company had revenue of $138.91 million during the quarter, compared to analyst estimates of $138.42 million. As a group, research analysts expect that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.2%. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, May 21st. Allient’s dividend payout ratio (DPR) is presently 11.19%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Allient from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Weiss Ratings lowered shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Roth Capital reissued a “buy” rating and set a $70.00 target price on shares of Allient in a report on Friday, May 8th. Jefferies Financial Group set a $80.00 target price on shares of Allient in a report on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Allient from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.83.

Allient 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.