Kornitzer Capital Management Inc. KS grew its stake in shares of Allient Inc. (NASDAQ:ALNT – Free Report) by 16.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,059 shares of the company’s stock after purchasing an additional 8,534 shares during the period. Kornitzer Capital Management Inc. KS owned about 0.35% of Allient worth $6,591,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in Allient by 29.3% in the 3rd quarter. GAMMA Investing LLC now owns 485 shares of the company’s stock worth $54,000 after purchasing an additional 110 shares in the last quarter. Smith Group Asset Management LLC lifted its stake in Allient by 1.7% during the third quarter. Smith Group Asset Management LLC now owns 12,408 shares of the company’s stock valued at $1,385,000 after buying an additional 207 shares in the last quarter. Jag Capital Management LLC boosted its holdings in shares of Allient by 5.1% in the first quarter. Jag Capital Management LLC now owns 5,107 shares of the company’s stock worth $302,000 after buying an additional 246 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Allient in the second quarter worth about $25,000. Finally, Kilter Group LLC acquired a new position in shares of Allient in the second quarter worth about $37,000. Institutional investors and hedge funds own 61.57% of the company’s stock.
Wall Street Analysts Forecast Growth
ALNT has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of Allient from an “overweight” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Tuesday, October 13th. Wall Street Zen upgraded shares of Allient from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings lowered shares of Allient from a “buy (b)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. Finally, Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Allient has a consensus rating of “Moderate Buy” and an average target price of $84.00.
Check Out Our Latest Stock Analysis on Allient
Allient Stock Performance
NASDAQ:ALNT opened at $81.32 on Monday. The stock’s 50 day moving average price is $98.64 and its 200 day moving average price is $82.89. Allient Inc. has a 52 week low of $48.12 and a 52 week high of $121.42. The company has a market capitalization of $1.38 billion, a P/E ratio of 36.63 and a beta of 1.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.99 and a current ratio of 3.49.
Allient (NASDAQ:ALNT – Get Free Report) last posted its earnings results on Wednesday, November 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.33. The firm had revenue of $164.40 million during the quarter, compared to analysts’ expectations of $155.25 million. Allient had a net margin of 6.24% and a return on equity of 15.80%. On average, research analysts forecast that Allient Inc. will post 2.72 EPS for the current fiscal year.
Allient Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 18th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, November 18th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s dividend payout ratio (DPR) is currently 7.21%.
About Allient
Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.
The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.
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