Moran Wealth Management LLC Purchases New Stake in Allient Inc. $ALNT

Moran Wealth Management LLC purchased a new stake in shares of Allient Inc. (NASDAQ:ALNT) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 15,849 shares of the company’s stock, valued at approximately $937,000. Moran Wealth Management LLC owned about 0.09% of Allient at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Portolan Capital Management LLC acquired a new position in shares of Allient in the third quarter valued at $11,530,000. Jennison Associates LLC acquired a new stake in shares of Allient during the 4th quarter worth about $8,982,000. Telemark Asset Management LLC acquired a new stake in shares of Allient during the 4th quarter worth about $8,062,000. Marshall Wace LLP boosted its holdings in shares of Allient by 1,291.3% during the 3rd quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock worth $6,883,000 after buying an additional 142,763 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Allient by 95.6% during the 4th quarter. Handelsbanken Fonder AB now owns 257,323 shares of the company’s stock worth $13,831,000 after buying an additional 125,753 shares during the period. 61.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on ALNT shares. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a report on Tuesday, May 26th. Roth Capital restated a “buy” rating and set a $70.00 price objective on shares of Allient in a report on Friday, May 8th. Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. Craig Hallum reiterated a “buy” rating and set a $75.00 target price on shares of Allient in a research note on Monday, March 9th. Finally, JPMorgan Chase & Co. raised Allient from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $65.00 to $80.00 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.33.

Allient Stock Performance

Shares of ALNT stock traded down $8.42 on Tuesday, hitting $79.75. The company’s stock had a trading volume of 62,507 shares, compared to its average volume of 210,296. Allient Inc. has a fifty-two week low of $36.85 and a fifty-two week high of $104.65. The company has a market capitalization of $1.36 billion, a PE ratio of 56.05 and a beta of 1.59. The stock’s 50 day moving average is $81.15 and its 200-day moving average is $69.29. 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 data on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The business had revenue of $138.91 million during the quarter, compared to analyst estimates of $138.42 million. Equities research analysts expect that Allient Inc. will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This is a positive change 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%. Allient’s dividend payout ratio (DPR) is presently 11.19%.

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.