Hillsdale Investment Management Inc. Has $7.95 Million Stock Position in Allient Inc. $ALNT

Hillsdale Investment Management Inc. lessened its stake in shares of Allient Inc. (NASDAQ:ALNT) by 6.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 134,490 shares of the company’s stock after selling 9,400 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.79% of Allient worth $7,947,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ALNT. Tudor Investment Corp ET AL bought a new position in shares of Allient during the third quarter valued at $3,196,000. Jennison Associates LLC bought a new stake in shares of Allient in the fourth quarter worth $8,982,000. Ellsworth Advisors LLC bought a new stake in shares of Allient in the fourth quarter worth $841,000. Ritholtz Wealth Management acquired a new stake in Allient in the fourth quarter valued at $585,000. Finally, Vanguard Group Inc. increased its holdings in Allient by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after purchasing an additional 26,438 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Allient Price Performance

ALNT stock opened at $87.27 on Tuesday. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 61.03 and a beta of 1.59. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. Allient Inc. has a 12-month low of $36.85 and a 12-month high of $104.65. The company’s fifty day simple moving average is $82.41 and its 200 day simple moving average is $70.45.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on ALNT. Weiss Ratings raised 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 Allient in a research note on Tuesday, May 26th. Wall Street Zen downgraded Allient from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Macquarie Infrastructure set a $80.00 price objective on Allient in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lifted their price objective on Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.83.

About Allient

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.