Quest Partners LLC Purchases New Position in Allient Inc. (NASDAQ:ALNT)

Quest Partners LLC acquired a new position in shares of Allient Inc. (NASDAQ:ALNT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,976 shares of the company’s stock, valued at approximately $151,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Juniper Investment Company LLC purchased a new position in Allient during the 1st quarter worth approximately $27,069,000. Vanguard Group Inc. increased its holdings in shares of Allient by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 728,813 shares of the company’s stock valued at $26,004,000 after acquiring an additional 9,680 shares during the period. Wasatch Advisors LP purchased a new stake in Allient in the 1st quarter valued at $20,914,000. Pinnacle Associates Ltd. acquired a new stake in Allient during the 1st quarter worth $9,610,000. Finally, Russell Investments Group Ltd. purchased a new position in Allient during the 1st quarter worth $5,723,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Wall Street Analyst Weigh In

ALNT has been the subject of a number of research reports. Roth Mkm reduced their target price on shares of Allient from $39.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Northland Securities reduced their price objective on Allient from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Finally, Craig Hallum lowered their target price on Allient from $41.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Allient Stock Down 0.0 %

ALNT stock opened at $20.43 on Tuesday. The stock has a market capitalization of $342.73 million, a PE ratio of 13.53 and a beta of 1.51. The company has a fifty day moving average of $23.37 and a 200-day moving average of $27.20. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.00 and a current ratio of 3.90. Allient Inc. has a one year low of $18.17 and a one year high of $36.33.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.11). The firm had revenue of $136.03 million during the quarter, compared to analyst estimates of $137.55 million. Allient had a net margin of 3.35% and a return on equity of 13.04%. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, analysts expect that Allient Inc. will post 1.29 EPS for the current year.

Allient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, August 22nd. Allient’s payout ratio is 7.95%.

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.