Diamond Hill Capital Management Inc. Decreases Position in Allient Inc. $ALNT

Diamond Hill Capital Management Inc. reduced its position in shares of Allient Inc. (NASDAQ:ALNT) by 6.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 145,243 shares of the company’s stock after selling 10,551 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.86% of Allient worth $6,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. White Pine Capital LLC boosted its holdings in shares of Allient by 1.6% during the 2nd quarter. White Pine Capital LLC now owns 17,218 shares of the company’s stock valued at $625,000 after buying an additional 269 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Allient by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after acquiring an additional 390 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Allient by 173.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 999 shares of the company’s stock worth $36,000 after purchasing an additional 633 shares in the last quarter. Pullen Investment Management LLC grew its stake in shares of Allient by 1.3% in the second quarter. Pullen Investment Management LLC now owns 49,615 shares of the company’s stock worth $1,802,000 after acquiring an additional 654 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Allient during the 3rd quarter valued at about $41,000. 61.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ALNT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. JPMorgan Chase & Co. assumed coverage on shares of Allient in a research note on Monday, October 20th. They set a “neutral” rating and a $60.00 target price for the company. Roth Mkm raised their price target on Allient from $49.00 to $56.00 and gave the company a “buy” rating in a report on Friday, November 14th. Finally, Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.33.

Insider Buying and Selling

In related news, VP Ashish Bendre sold 16,000 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $52.25, for a total transaction of $836,000.00. Following the sale, the vice president owned 23,166 shares in the company, valued at approximately $1,210,423.50. This trade represents a 40.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.90% of the company’s stock.

Allient Trading Up 5.8%

NASDAQ ALNT opened at $65.74 on Monday. The stock has a market cap of $1.11 billion, a P/E ratio of 58.70 and a beta of 1.53. The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. The company has a fifty day simple moving average of $58.05 and a two-hundred day simple moving average of $51.10. Allient Inc. has a 12-month low of $19.25 and a 12-month high of $66.43.

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.