Allient Inc. $ALNT Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in Allient Inc. (NASDAQ:ALNT) by 30.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 214,056 shares of the company’s stock after selling 92,269 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Allient were worth $12,649,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tudor Investment Corp ET AL acquired a new stake in Allient during the third quarter valued at $3,196,000. Jennison Associates LLC bought a new stake in shares of Allient in the 4th quarter valued at approximately $8,982,000. Tulsa Wealth Advisors INC acquired a new position in Allient in the fourth quarter worth approximately $659,000. Ellsworth Advisors LLC acquired a new stake in Allient in the fourth quarter valued at approximately $841,000. Finally, Vanguard Group Inc. grew its position in Allient by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock worth $54,355,000 after acquiring an additional 26,438 shares in the last quarter. Institutional investors own 61.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on ALNT. Roth Capital restated a “buy” rating and set a $70.00 price target on shares of Allient in a research note on Friday, May 8th. Weiss Ratings cut Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. 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. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.83.

Allient Stock Up 3.9%

Shares of ALNT opened at $89.97 on Wednesday. The company has a 50-day simple moving average of $84.66 and a 200-day simple moving average of $71.84. The firm has a market capitalization of $1.53 billion, a P/E ratio of 62.92 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. Allient Inc. has a 52 week low of $36.85 and a 52 week high of $104.65.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The firm had revenue of $138.91 million during the quarter, compared to analyst estimates of $138.42 million. On average, equities research analysts expect that Allient Inc. will post 2.47 earnings per share for the current year.

Allient Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This is an increase from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s payout ratio is presently 11.19%.

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.