Telemark Asset Management LLC acquired a new stake in shares of Allient Inc. (NASDAQ:ALNT – Free Report) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 150,000 shares of the company’s stock, valued at approximately $8,062,000.
A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Allient by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after acquiring an additional 26,438 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Allient by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock valued at $19,808,000 after acquiring an additional 10,173 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Allient by 20.5% during the 3rd 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 last quarter. Portolan Capital Management LLC acquired a new position in shares of Allient during the 3rd quarter valued at about $11,530,000. Finally, Handelsbanken Fonder AB increased its holdings in shares of Allient by 95.6% during 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. Institutional investors and hedge funds own 61.57% of the company’s stock.
Allient Price Performance
Allient stock opened at $84.86 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15. The company has a market capitalization of $1.44 billion, a PE ratio of 59.34 and a beta of 1.63. Allient Inc. has a one year low of $31.75 and a one year high of $91.11. The business has a 50 day simple moving average of $69.60 and a 200 day simple moving average of $63.23.
Allient Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.04 per share. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. Allient’s dividend payout ratio is 11.19%.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the company. Weiss Ratings lowered Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Lake Street Capital initiated coverage on Allient in a report on Wednesday, February 18th. They issued a “buy” rating and a $79.00 target price on the stock. Jefferies Financial Group set a $80.00 target price on Allient in a report on Tuesday, May 26th. JPMorgan Chase & Co. raised Allient from a “neutral” rating to an “overweight” rating and raised their target price for the company from $65.00 to $80.00 in a report on Tuesday, May 26th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $70.00 target price on shares of Allient in a report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $77.33.
Check Out Our Latest Research Report on ALNT
About Allient
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.
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