Smith Group Asset Management LLC bought a new position in Allient Inc. (NASDAQ:ALNT – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,620 shares of the company’s stock, valued at approximately $450,000.
A number of other institutional investors and hedge funds have also modified their holdings of ALNT. Arax Advisory Partners lifted 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 in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Allient during the third quarter valued at $34,000. Larson Financial Group LLC increased its holdings in Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after buying an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after buying an additional 209 shares in the last quarter. Finally, State of Wyoming purchased a new position in Allient in the 4th quarter worth about $67,000. Institutional investors own 61.57% of the company’s stock.
Allient Price Performance
NASDAQ ALNT opened at $78.97 on Thursday. The company has a 50-day moving average price of $87.47 and a 200-day moving average price of $73.07. Allient Inc. has a 52 week low of $36.85 and a 52 week high of $104.65. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $1.34 billion, a P/E ratio of 55.22 and a beta of 1.59.
Allient Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. This is a boost from Allient’s previous quarterly dividend of $0.03. Allient’s dividend payout ratio is 11.19%.
Analyst Ratings Changes
Several equities analysts have issued reports on ALNT shares. Roth Capital restated a “buy” rating and set a $70.00 target price on shares of Allient in a research note on Friday, May 8th. Wall Street Zen cut shares of Allient from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Weiss Ratings downgraded shares of Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. increased their price target on Allient from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Allient presently has an average rating of “Moderate Buy” and an average target price of $79.83.
View Our Latest Research Report on ALNT
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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