Zweig DiMenna Associates LLC Purchases Shares of 47,000 Allient Inc. $ALNT

Zweig DiMenna Associates LLC purchased a new stake in Allient Inc. (NASDAQ:ALNT) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 47,000 shares of the company’s stock, valued at approximately $2,777,000.

A number of other institutional investors have also made changes to their positions in ALNT. Arax Advisory Partners lifted its position in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after purchasing an additional 263 shares during the last quarter. Larson Financial Group LLC boosted its stake in Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares during the period. Advisory Services Network LLC acquired a new stake in Allient in the 3rd quarter valued at approximately $34,000. Cullen Frost Bankers Inc. grew its holdings in Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after buying an additional 209 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Allient in the 4th quarter valued at approximately $67,000. 61.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Macquarie Infrastructure set a $80.00 price target on Allient in a report on Tuesday, May 26th. Roth Capital reissued a “buy” rating and issued a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. boosted their target price on shares of Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Weiss Ratings upgraded shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

Allient Stock Up 1.7%

NASDAQ ALNT opened at $88.78 on Wednesday. Allient Inc. has a twelve month low of $36.85 and a twelve month high of $104.65. The stock has a market cap of $1.51 billion, a PE ratio of 62.08 and a beta of 1.59. The firm has a 50-day simple moving average of $82.63 and a 200 day simple moving average of $70.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results 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 firm had revenue of $138.91 million for the quarter, compared to the consensus estimate of $138.42 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. On average, research analysts forecast that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

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