Bank of New York Mellon Corp Purchases 11,629 Shares of Allient Inc. (NASDAQ:ALNT)

Bank of New York Mellon Corp raised its position in Allient Inc. (NASDAQ:ALNT) by 13.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,012 shares of the company’s stock after buying an additional 11,629 shares during the quarter. Bank of New York Mellon Corp’s holdings in Allient were worth $2,477,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Juniper Investment Company LLC acquired a new position in shares of Allient in the first quarter valued at about $27,069,000. Wasatch Advisors LP bought a new stake in Allient in the 1st quarter valued at about $20,914,000. Pinnacle Associates Ltd. acquired a new position in shares of Allient during the 1st quarter worth approximately $9,610,000. Russell Investments Group Ltd. bought a new position in shares of Allient during the first quarter worth approximately $5,723,000. Finally, Silvercrest Asset Management Group LLC acquired a new stake in shares of Allient in the first quarter valued at approximately $5,696,000. Institutional investors own 61.57% of the company’s stock.

Wall Street Analyst Weigh In

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

Allient Stock Performance

NASDAQ ALNT opened at $20.43 on Tuesday. The firm’s 50 day simple moving average is $23.37 and its 200 day simple moving average is $27.20. The firm has a market capitalization of $342.73 million, a price-to-earnings ratio of 13.53 and a beta of 1.51. The company has a current ratio of 3.90, a quick ratio of 2.00 and a debt-to-equity ratio of 0.89. Allient Inc. has a 1 year low of $18.17 and a 1 year high of $36.33.

Allient (NASDAQ:ALNT) last issued its earnings results 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). Allient had a net margin of 3.35% and a return on equity of 13.04%. The business had revenue of $136.03 million during the quarter, compared to analyst estimates of $137.55 million. During the same period in the prior year, the business posted $0.58 EPS. As a group, research analysts expect that Allient Inc. will post 1.29 earnings per share for the current fiscal year.

Allient Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, August 22nd. Allient’s dividend payout ratio is presently 7.95%.

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.