Howe & Rusling Inc. Decreases Position in Allient Inc. $ALNT

Howe & Rusling Inc. decreased its holdings in Allient Inc. (NASDAQ:ALNT) by 19.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,631 shares of the company’s stock after selling 19,375 shares during the quarter. Howe & Rusling Inc. owned about 0.48% of Allient worth $2,928,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. raised its stake in Allient by 26.7% in the first quarter. Envestnet Asset Management Inc. now owns 104,988 shares of the company’s stock valued at $2,308,000 after buying an additional 22,098 shares during the last quarter. CWM LLC increased its holdings in shares of Allient by 105.2% during the first quarter. CWM LLC now owns 1,890 shares of the company’s stock valued at $42,000 after acquiring an additional 969 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Allient by 37.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 327,132 shares of the company’s stock valued at $7,190,000 after purchasing an additional 89,463 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Allient by 0.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 192,048 shares of the company’s stock worth $4,221,000 after purchasing an additional 511 shares in the last quarter. Finally, Seizert Capital Partners LLC acquired a new stake in Allient in the 1st quarter worth approximately $3,312,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Stock Performance

Shares of ALNT stock opened at $50.45 on Thursday. The company has a current ratio of 3.74, a quick ratio of 2.17 and a debt-to-equity ratio of 0.70. Allient Inc. has a 12-month low of $19.25 and a 12-month high of $58.13. The business’s 50 day moving average is $49.30 and its two-hundred day moving average is $41.60. The company has a market capitalization of $854.77 million, a P/E ratio of 58.66 and a beta of 1.51.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, November 20th. Allient’s payout ratio is presently 10.71%.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALNT shares. JPMorgan Chase & Co. started coverage on shares of Allient in a research note on Monday, October 20th. They set a “neutral” rating and a $60.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research report on Wednesday, October 8th. Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Finally, Roth Capital lifted their price target on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Allient currently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

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.