CM Wealth Advisors LLC purchased a new position in shares of Allient Inc. (NASDAQ:ALNT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,996 shares of the company’s stock, valued at approximately $926,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Allient in the 2nd quarter valued at about $128,774,000. Jennison Associates LLC boosted its holdings in shares of Allient by 111.5% in the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock valued at $20,884,000 after purchasing an additional 186,316 shares during the last quarter. Telemark Asset Management LLC acquired a new position in Allient in the fourth quarter valued at $8,062,000. Marshall Wace LLP lifted its stake 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 valued at $6,883,000 after purchasing an additional 142,763 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Allient by 95.6% during the fourth quarter. Handelsbanken Fonder AB now owns 257,323 shares of the company’s stock worth $13,831,000 after buying an additional 125,753 shares during the period. Hedge funds and other institutional investors own 61.57% of the company’s stock.
Allient Stock Down 6.4%
Shares of Allient stock opened at $101.81 on Thursday. Allient Inc. has a 1-year low of $41.75 and a 1-year high of $118.67. The business’s fifty day moving average price is $95.10 and its two-hundred day moving average price is $77.57. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95. The company has a market capitalization of $1.73 billion, a P/E ratio of 59.89 and a beta of 1.61.
Allient Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Allient’s payout ratio is presently 9.41%.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Weiss Ratings raised shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. JPMorgan Chase & Co. lifted their price target on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Macquarie Infrastructure set a $80.00 target price on Allient in a research report on Tuesday, May 26th. Roth Capital restated a “buy” rating and issued a $70.00 target price on shares of Allient in a research note on Friday, May 8th. Finally, Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $84.00.
Read Our Latest Stock Analysis on Allient
Insiders Place Their Bets
In other news, CEO Richard S. Warzala sold 70,000 shares of Allient stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the transaction, the chief executive officer directly owned 1,499,106 shares of the company’s stock, valued at $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 15.00% of the company’s stock.
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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