Moran Wealth Management LLC Takes Position in Allient Inc. $ALNT

Moran Wealth Management LLC bought a new position in shares of Allient Inc. (NASDAQ:ALNT) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,849 shares of the company’s stock, valued at approximately $937,000.

A number of other hedge funds also recently modified their holdings of ALNT. Arax Advisory Partners raised its stake in Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares in the last quarter. Advisory Services Network LLC bought a new stake in Allient during the third quarter worth about $34,000. Larson Financial Group LLC grew its stake in Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after buying an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after buying an additional 209 shares in the last quarter. Finally, State of Wyoming bought a new position in Allient in the 4th quarter valued at about $67,000. Institutional investors own 61.57% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALNT shares. Weiss Ratings upgraded shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Jefferies Financial Group set a $80.00 price target on shares of Allient in a research report on Tuesday, May 26th. Roth Capital restated a “buy” rating and set a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. JPMorgan Chase & Co. upgraded Allient from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $65.00 to $80.00 in a research note on Tuesday, May 26th. Finally, Macquarie Infrastructure set a $80.00 target price on Allient in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $77.33.

Allient Price Performance

NASDAQ ALNT traded down $8.42 during trading on Tuesday, hitting $79.75. 62,507 shares of the company’s stock were exchanged, compared to its average volume of 210,296. The company has a market cap of $1.36 billion, a PE ratio of 56.05 and a beta of 1.59. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. Allient Inc. has a fifty-two week low of $36.85 and a fifty-two week high of $104.65. The stock’s 50 day moving average price is $81.15 and its two-hundred day moving average price is $69.29.

Allient (NASDAQ:ALNT) last posted its quarterly 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 company had revenue of $138.91 million during the quarter, compared to analyst estimates of $138.42 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. Research analysts expect that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were given a $0.04 dividend. 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%. The ex-dividend date was Thursday, May 21st. Allient’s dividend payout ratio (DPR) is 11.19%.

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.