Telemark Asset Management LLC Takes $8.06 Million Position in Allient Inc. $ALNT

Telemark Asset Management LLC purchased a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 150,000 shares of the company’s stock, valued at approximately $8,062,000. Telemark Asset Management LLC owned 0.89% of Allient as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Portolan Capital Management LLC bought a new position in Allient during the third quarter valued at about $11,530,000. Jennison Associates LLC bought a new position in Allient during the fourth quarter valued at about $8,982,000. Hillsdale Investment Management Inc. bought a new position in Allient during the third quarter valued at about $6,656,000. Marshall Wace LLP boosted its stake in Allient by 1,291.3% during the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after buying an additional 142,763 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new position in Allient during the third quarter valued at about $5,888,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Trading Down 5.5%

Shares of NASDAQ ALNT opened at $84.86 on Friday. Allient Inc. has a 12 month low of $31.75 and a 12 month high of $91.11. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 59.34 and a beta of 1.63. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $69.60 and a 200-day simple moving average of $63.23.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.05). The business had revenue of $138.92 million during the quarter, compared to analysts’ expectations of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. Sell-side analysts predict that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient’s dividend payout ratio (DPR) is 11.19%.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALNT. Jefferies Financial Group set a $80.00 target price on Allient in a research note on Tuesday, May 26th. Lake Street Capital initiated coverage on Allient in a research note on Wednesday, February 18th. They set a “buy” rating and a $79.00 target price for the company. Roth Mkm reaffirmed a “buy” rating and set a $70.00 target price on shares of Allient in a report on Friday, May 8th. Macquarie Infrastructure set a $80.00 target price on Allient in a report on Tuesday, May 26th. Finally, Wall Street Zen downgraded Allient from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 9th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.33.

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.