Pinnacle Associates Ltd. Grows Stock Holdings in Allient Inc. (NASDAQ:ALNT)

Pinnacle Associates Ltd. raised its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 7.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,806 shares of the company’s stock after buying an additional 19,622 shares during the period. Pinnacle Associates Ltd. owned about 1.60% of Allient worth $5,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Allient during the first quarter valued at approximately $1,110,000. Jacobs Levy Equity Management Inc. purchased a new stake in Allient during the first quarter valued at approximately $1,332,000. Gabelli Funds LLC purchased a new stake in Allient during the first quarter valued at approximately $2,461,000. Kennedy Capital Management LLC purchased a new stake in shares of Allient in the first quarter worth $2,352,000. Finally, Silvercrest Asset Management Group LLC purchased a new stake in shares of Allient in the first quarter worth $5,696,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Allient Price Performance

Shares of NASDAQ:ALNT opened at $17.29 on Friday. Allient Inc. has a fifty-two week low of $16.91 and a fifty-two week high of $36.33. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.00 and a current ratio of 3.90. The firm has a fifty day moving average price of $19.17 and a 200 day moving average price of $24.02. The firm has a market cap of $291.23 million, a price-to-earnings ratio of 14.91 and a beta of 1.50.

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

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were issued a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.69%. Allient’s dividend payout ratio (DPR) is presently 10.34%.

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.