Renaissance Technologies LLC Sells 36,050 Shares of Allient Inc. (NASDAQ:ALNT)

Renaissance Technologies LLC lowered its position in Allient Inc. (NASDAQ:ALNT) by 17.2% in the second quarter, HoldingsChannel.com reports. The fund owned 173,372 shares of the company’s stock after selling 36,050 shares during the quarter. Renaissance Technologies LLC’s holdings in Allient were worth $4,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of ALNT. Shell Asset Management Co. bought a new stake in Allient in the 1st quarter valued at $35,000. CWM LLC boosted its holdings in Allient by 798.2% in the 2nd quarter. CWM LLC now owns 1,006 shares of the company’s stock valued at $25,000 after purchasing an additional 894 shares during the period. New York State Teachers Retirement System bought a new position in shares of Allient during the first quarter worth approximately $41,000. Ameritas Investment Partners Inc. acquired a new stake in shares of Allient in the first quarter valued at approximately $49,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Allient in the first quarter valued at approximately $57,000. Institutional investors own 61.57% of the company’s stock.

Wall Street Analyst Weigh In

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

Allient Stock Performance

NASDAQ ALNT opened at $19.30 on Friday. The firm’s fifty day moving average price is $22.11 and its two-hundred day moving average price is $26.53. The stock has a market cap of $323.78 million, a PE ratio of 12.78 and a beta of 1.51. 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 fifty-two week low of $18.17 and a fifty-two week high of $36.33.

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

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Thursday, August 22nd. Allient’s payout ratio is currently 7.95%.

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.