Ritholtz Wealth Management Buys 8,635 Shares of Allient Inc. $ALNT

Ritholtz Wealth Management lifted its stake in shares of Allient Inc. (NASDAQ:ALNT) by 79.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,519 shares of the company’s stock after acquiring an additional 8,635 shares during the quarter. Ritholtz Wealth Management owned about 0.11% of Allient worth $1,153,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ALNT. Balboa Wealth Partners bought a new position in shares of Allient in the 1st quarter valued at approximately $227,000. Tulsa Wealth Advisors INC acquired a new stake in shares of Allient in the fourth quarter worth $659,000. Invesco Ltd. increased its holdings in shares of Allient by 1.3% during the 4th quarter. Invesco Ltd. now owns 85,409 shares of the company’s stock worth $4,591,000 after purchasing an additional 1,084 shares during the period. EP Wealth Advisors LLC acquired a new position in Allient in the 4th quarter valued at approximately $219,000. Finally, Millennium Management LLC lifted its position in Allient by 38.8% in the fourth quarter. Millennium Management LLC now owns 137,527 shares of the company’s stock worth $7,392,000 after purchasing an additional 38,447 shares during the period. Institutional investors and hedge funds own 61.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALNT. Weiss Ratings downgraded Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Roth Mkm reissued a “buy” rating and issued a $70.00 price target on shares of Allient in a report on Friday, May 8th. Craig Hallum reaffirmed a “buy” rating and issued a $75.00 target price on shares of Allient in a research note on Monday, March 9th. Macquarie Infrastructure set a $80.00 target price on Allient in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Allient has an average rating of “Moderate Buy” and a consensus target price of $77.33.

Allient Price Performance

Shares of NASDAQ ALNT opened at $97.63 on Monday. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 68.27 and a beta of 1.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15. Allient Inc. has a fifty-two week low of $35.36 and a fifty-two week high of $104.65. The business has a 50-day moving average of $78.55 and a 200-day moving average of $67.68.

Allient (NASDAQ:ALNT) last issued its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The firm had revenue of $138.91 million for the quarter, compared to analyst estimates of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. As a group, sell-side analysts predict that Allient Inc. will post 2.47 earnings per share for the current fiscal 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 issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Thursday, May 21st. This is a boost from Allient’s previous quarterly dividend of $0.03. Allient’s payout ratio is presently 11.19%.

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.