Portolan Capital Management LLC Takes $11.53 Million Position in Allient Inc. $ALNT

Portolan Capital Management LLC acquired a new position in shares of Allient Inc. (NASDAQ:ALNT) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 257,653 shares of the company’s stock, valued at approximately $11,530,000. Portolan Capital Management LLC owned about 1.52% of Allient as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALNT. Vanguard Group Inc. grew its position in Allient by 7.2% during the third quarter. Vanguard Group Inc. now owns 984,815 shares of the company’s stock valued at $44,070,000 after acquiring an additional 66,552 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Allient by 20.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock worth $13,009,000 after purchasing an additional 49,384 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Allient by 2.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 175,110 shares of the company’s stock worth $6,358,000 after purchasing an additional 4,000 shares during the period. Seizert Capital Partners LLC lifted its stake in shares of Allient by 2.3% in the 2nd quarter. Seizert Capital Partners LLC now owns 154,112 shares of the company’s stock valued at $5,596,000 after purchasing an additional 3,422 shares in the last quarter. Finally, Marshall Wace LLP lifted its stake in shares of Allient by 1,291.3% in the 3rd quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock valued at $6,883,000 after purchasing an additional 142,763 shares in the last quarter. 61.57% of the stock is owned by hedge funds and other institutional investors.

Allient Stock Down 2.4%

NASDAQ ALNT opened at $62.34 on Friday. The company has a quick ratio of 2.08, a current ratio of 3.66 and a debt-to-equity ratio of 0.60. Allient Inc. has a fifty-two week low of $19.25 and a fifty-two week high of $70.00. The business has a 50 day moving average price of $63.34 and a two-hundred day moving average price of $55.00. The stock has a market cap of $1.06 billion, a PE ratio of 47.23 and a beta of 1.51.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09. Allient had a net margin of 3.97% and a return on equity of 12.53%. The company had revenue of $143.35 million for the quarter, compared to analyst estimates of $133.33 million. As a group, sell-side analysts predict that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 20th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.12 annualized dividend and a yield of 0.2%. Allient’s payout ratio is 9.09%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALNT. Lake Street Capital started coverage on shares of Allient in a research report on Wednesday, February 18th. They set a “buy” rating and a $79.00 target price for the company. Craig Hallum reaffirmed a “buy” rating and set a $75.00 price target on shares of Allient in a research report on Monday. Roth Mkm boosted their price objective on shares of Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded shares of Allient from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Allient has a consensus rating of “Hold” and a consensus price target of $61.00.

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.