Principal Financial Group Inc. Buys Shares of 14,447 Allient Inc. $ALNT

Principal Financial Group Inc. purchased a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,447 shares of the company’s stock, valued at approximately $647,000.

Other large investors also recently added to or reduced their stakes in the company. White Pine Capital LLC lifted its holdings in Allient by 1.6% during the second quarter. White Pine Capital LLC now owns 17,218 shares of the company’s stock valued at $625,000 after purchasing an additional 269 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Allient by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after purchasing an additional 390 shares during the period. Cullen Frost Bankers Inc. raised its position in shares of Allient by 173.0% in the second quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock valued at $36,000 after purchasing an additional 633 shares during the period. Pullen Investment Management LLC lifted its stake in shares of Allient by 1.3% during the 2nd quarter. Pullen Investment Management LLC now owns 49,615 shares of the company’s stock valued at $1,802,000 after buying an additional 654 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new position in Allient in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ALNT shares. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Roth Mkm raised their price target on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research note on Wednesday, January 21st. Finally, Lake Street Capital began coverage on Allient in a report on Wednesday. They set a “buy” rating and a $79.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $57.50.

Allient Stock Up 1.7%

ALNT opened at $67.09 on Thursday. The firm has a market capitalization of $1.14 billion, a P/E ratio of 59.90 and a beta of 1.53. Allient Inc. has a one year low of $19.25 and a one year high of $70.00. The company has a fifty day moving average price of $59.95 and a 200-day moving average price of $52.54. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.53 and a quick ratio of 2.01.

Insider Buying and Selling

In other Allient news, VP Ashish Bendre sold 16,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $52.25, for a total value of $836,000.00. Following the transaction, the vice president directly owned 23,166 shares in the company, valued at $1,210,423.50. This represents a 40.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 15.60% of the stock is currently owned by insiders.

About Allient

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.