Legato Capital Management LLC bought a new stake in Allient Inc. (NASDAQ:ALNT – Free Report) during the fourth quarter, HoldingsChannel.com reports. The firm bought 23,997 shares of the company’s stock, valued at approximately $1,290,000.
A number of other hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC bought a new stake in shares of Allient during the third quarter worth about $34,000. Larson Financial Group LLC grew its holdings in shares of Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Allient during the third quarter worth about $41,000. Cullen Frost Bankers Inc. grew its holdings in shares of Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after purchasing an additional 209 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew 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 worth $80,000 after purchasing an additional 1,355 shares during the last quarter. 61.57% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
ALNT has been the topic of several research reports. Lake Street Capital initiated coverage on Allient in a report on Wednesday, February 18th. They set a “buy” rating and a $79.00 price target on the stock. Craig Hallum restated a “buy” rating and set a $75.00 price target on shares of Allient in a report on Monday, March 9th. Wall Street Zen cut Allient from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Weiss Ratings cut Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. reduced their price target on Allient from $70.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Allient currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.25.
Allient Stock Performance
Shares of ALNT stock opened at $63.37 on Monday. The business’s 50 day simple moving average is $66.35 and its 200 day simple moving average is $61.41. Allient Inc. has a one year low of $29.57 and a one year high of $80.39. The stock has a market capitalization of $1.08 billion, a PE ratio of 44.31 and a beta of 1.65. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15.
Allient (NASDAQ:ALNT – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The company had revenue of $138.92 million during the quarter, compared to the consensus estimate of $138.42 million. As a group, research analysts forecast that Allient Inc. will post 2.47 earnings per share for the current year.
Allient Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be issued a $0.04 dividend. The ex-dividend date is Thursday, May 21st. This is a boost from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a yield of 0.3%. Allient’s dividend payout ratio (DPR) is currently 11.19%.
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.
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