Hillsdale Investment Management Inc. trimmed its stake in Allient Inc. (NASDAQ:ALNT – Free Report) by 6.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,490 shares of the company’s stock after selling 9,400 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Allient were worth $7,947,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arax Advisory Partners raised its holdings in shares of Allient by 113.9% during the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares during the period. Advisory Services Network LLC bought a new position in shares of Allient during the 3rd quarter worth about $34,000. Larson Financial Group LLC grew its stake in shares of Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after buying an additional 413 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after buying an additional 209 shares during the period. Finally, State of Wyoming bought a new stake in Allient in the 4th quarter valued at about $67,000. 61.57% of the stock is owned by institutional investors.
Allient Stock Performance
Shares of ALNT opened at $87.27 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. The stock has a 50 day moving average price of $82.41 and a two-hundred day moving average price of $70.45. The firm has a market capitalization of $1.48 billion, a P/E ratio of 61.03 and a beta of 1.59. Allient Inc. has a 52 week low of $36.85 and a 52 week high of $104.65.
Allient Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, May 21st. This is an increase from Allient’s previous quarterly dividend of $0.03. Allient’s payout ratio is currently 11.19%.
Analyst Ratings Changes
A number of equities research analysts have commented on the company. Jefferies Financial Group set a $80.00 price objective on Allient in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 target price on Allient in a research report on Tuesday, May 26th. Roth Capital reiterated a “buy” rating and issued a $70.00 target price on shares of Allient in a report on Friday, May 8th. Weiss Ratings raised shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.83.
Read Our Latest Research Report on Allient
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.
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