Smith Group Asset Management LLC Purchases New Shares in Allient Inc. $ALNT

Smith Group Asset Management LLC acquired a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 7,620 shares of the company’s stock, valued at approximately $450,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALNT. Vanguard Group Inc. boosted its stake in shares of Allient by 2.7% during the 4th 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 in the last quarter. State Street Corp raised its stake in Allient by 32.5% in the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock worth $21,084,000 after buying an additional 96,264 shares in the last quarter. Geode Capital Management LLC raised its stake in Allient by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock worth $19,808,000 after buying an additional 10,173 shares in the last quarter. Jennison Associates LLC lifted its holdings in Allient by 111.5% in the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after buying an additional 186,316 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Allient by 20.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock worth $13,009,000 after buying an additional 49,384 shares during the period. 61.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings downgraded Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, July 17th. Roth Capital reaffirmed a “buy” rating and issued a $70.00 price target on shares of Allient in a research note on Friday, May 8th. Jefferies Financial Group set a $80.00 price objective on Allient in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of Allient from a “buy” rating to a “hold” rating in a research report on Saturday, July 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Allient from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.83.

Allient Trading Down 5.2%

NASDAQ ALNT opened at $78.97 on Thursday. Allient Inc. has a 12 month low of $36.85 and a 12 month high of $104.65. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The stock’s fifty day moving average price is $87.47 and its 200-day moving average price is $73.07. The stock has a market cap of $1.34 billion, a P/E ratio of 55.22 and a beta of 1.59.

Allient (NASDAQ:ALNT) last posted 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 company had revenue of $138.91 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%. As a group, equities analysts forecast that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.2%. This is a boost from Allient’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 21st. Allient’s dividend payout ratio 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.