167,114 Shares in Allient Inc. $ALNT Purchased by Jennison Associates LLC

Jennison Associates LLC acquired a new position in Allient Inc. (NASDAQ:ALNT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 167,114 shares of the company’s stock, valued at approximately $8,982,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in Allient in the third quarter worth about $34,000. State of Alaska Department of Revenue acquired a new stake in Allient in the third quarter worth about $41,000. New York State Teachers Retirement System acquired a new stake in Allient in the third quarter worth about $58,000. AlphaQuest LLC acquired a new stake in Allient in the third quarter worth about $88,000. Finally, Tower Research Capital LLC TRC increased its position in Allient by 162.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,190 shares of the company’s stock worth $80,000 after purchasing an additional 1,355 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Allient Price Performance

Shares of ALNT opened at $76.28 on Friday. The company has a current ratio of 3.66, a quick ratio of 2.08 and a debt-to-equity ratio of 0.60. Allient Inc. has a 1 year low of $21.52 and a 1 year high of $77.39. The stock has a market cap of $1.30 billion, a P/E ratio of 57.79 and a beta of 1.65. The stock’s 50-day moving average price is $66.25 and its two-hundred day moving average price is $60.17.

Allient (NASDAQ:ALNT) last issued its earnings results on Thursday, March 5th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. Allient had a return on equity of 12.53% and a net margin of 3.97%.The firm had revenue of $143.35 million for the quarter, compared to analysts’ expectations of $133.33 million. On average, equities analysts predict that Allient Inc. will post 2.58 earnings per share for the current year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 20th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, March 20th. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio (DPR) is 9.09%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ALNT. Roth Mkm lifted their price objective on Allient from $56.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a report on Wednesday, January 21st. Craig Hallum restated a “buy” rating and set a $75.00 target price on shares of Allient in a report on Monday, March 9th. Finally, Lake Street Capital began coverage on Allient in a report on Wednesday, February 18th. They set a “buy” rating and a $79.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.60.

Allient Company 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.