Ritholtz Wealth Management Invests $585,000 in Allient Inc. $ALNT

Ritholtz Wealth Management purchased a new position in shares of Allient Inc. (NASDAQ:ALNT) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 10,884 shares of the company’s stock, valued at approximately $585,000. Ritholtz Wealth Management owned approximately 0.06% of Allient at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALNT. Royal Bank of Canada raised its stake in shares of Allient by 19.8% during the 1st quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after purchasing an additional 18,416 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Allient by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock valued at $1,179,000 after acquiring an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Allient by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after acquiring an additional 390 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Allient by 8.1% in the 1st quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock valued at $1,012,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock valued at $404,000 after acquiring an additional 1,663 shares in the last quarter. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Stock Performance

Shares of NASDAQ ALNT opened at $70.52 on Thursday. The company has a quick ratio of 2.08, a current ratio of 3.66 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $64.67 and its two-hundred day moving average is $57.98. The company has a market cap of $1.20 billion, a P/E ratio of 53.42 and a beta of 1.53. Allient Inc. has a 12 month low of $20.10 and a 12 month high of $72.89.

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

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 20th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend was Friday, March 20th. Allient’s payout ratio is currently 9.09%.

Wall Street Analysts Forecast Growth

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

Allient 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.