Howe & Rusling Inc. Sells 6,000 Shares of Allient Inc. $ALNT

Howe & Rusling Inc. trimmed its stake in shares of Allient Inc. (NASDAQ:ALNT) by 14.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,631 shares of the company’s stock after selling 6,000 shares during the quarter. Howe & Rusling Inc.’s holdings in Allient were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of ALNT. Cullen Frost Bankers Inc. grew its stake in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after purchasing an additional 209 shares during the period. Arax Advisory Partners lifted its position in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after buying an additional 263 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Allient by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock valued at $192,000 after buying an additional 390 shares in the last quarter. Larson Financial Group LLC boosted its stake in Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after buying an additional 413 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Allient by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,445 shares of the company’s stock valued at $454,000 after acquiring an additional 519 shares during the period. 61.57% of the stock is currently owned by institutional investors.

Allient Stock Performance

Allient stock opened at $86.89 on Friday. The stock has a 50-day simple moving average of $80.85 and a 200 day simple moving average of $68.96. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. Allient Inc. has a 12-month low of $36.85 and a 12-month high of $104.65. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 60.76 and a beta of 1.59.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The company had revenue of $138.91 million for the quarter, compared to the consensus estimate of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. On average, research analysts anticipate that Allient Inc. will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. This is an increase from Allient’s previous quarterly dividend of $0.03. The ex-dividend date of this dividend was Thursday, May 21st. Allient’s payout ratio is currently 11.19%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Allient from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $65.00 to $80.00 in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a report on Tuesday, May 26th. Weiss Ratings upgraded shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Jefferies Financial Group set a $80.00 price target on shares of Allient in a report on Tuesday, May 26th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $75.00 price objective on shares of Allient in a research note on Monday, March 9th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.33.

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.