Allspring Global Investments Holdings LLC Cuts Stake in Allient Inc. $ALNT

Allspring Global Investments Holdings LLC lessened its stake in shares of Allient Inc. (NASDAQ:ALNT) by 22.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 306,325 shares of the company’s stock after selling 87,070 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Allient were worth $16,465,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in ALNT. Portolan Capital Management LLC purchased a new position in Allient in the third quarter valued at about $11,530,000. Hillsdale Investment Management Inc. purchased a new stake in Allient in the third quarter worth $6,656,000. Marshall Wace LLP raised its stake in shares of Allient by 1,291.3% in the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after buying an additional 142,763 shares during the period. Handelsbanken Fonder AB purchased a new position in shares of Allient during the 3rd quarter valued at $5,888,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Allient during the 3rd quarter valued at $3,196,000. Institutional investors own 61.57% of the company’s stock.

Allient Price Performance

NASDAQ:ALNT opened at $60.54 on Friday. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 45.86 and a beta of 1.53. Allient Inc. has a 52-week low of $19.25 and a 52-week high of $70.00. The stock has a fifty day moving average of $63.81 and a 200 day moving average of $56.76. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.08 and a current ratio of 3.66.

Allient (NASDAQ:ALNT) last announced its earnings results on Thursday, March 5th. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. The business had revenue of $143.35 million for the quarter, compared to analyst estimates of $133.33 million. Allient had a return on equity of 12.53% and a net margin of 3.97%. On average, research analysts expect that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 20th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Friday, March 20th. Allient’s dividend payout ratio (DPR) is currently 9.09%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALNT. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research note on Wednesday, January 21st. Roth Mkm increased their target price on shares of Allient from $56.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Craig Hallum reiterated a “buy” rating and issued a $75.00 target price on shares of Allient in a research note on Monday, March 9th. Lake Street Capital began coverage on shares of Allient in a research note on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price objective for the company. Finally, Zacks Research cut shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Allient presently has a consensus rating of “Hold” and a consensus price target of $63.60.

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.