Arrowstreet Capital Limited Partnership Takes $7.27 Million Position in Allient Inc. (NASDAQ:ALNT)

Arrowstreet Capital Limited Partnership bought a new position in shares of Allient Inc. (NASDAQ:ALNT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 299,340 shares of the company’s stock, valued at approximately $7,268,000. Arrowstreet Capital Limited Partnership owned about 1.78% of Allient at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALNT. Allspring Global Investments Holdings LLC grew its position in Allient by 23,963.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock worth $9,948,000 after purchasing an additional 404,505 shares during the period. Barclays PLC grew its holdings in Allient by 61.2% during the third quarter. Barclays PLC now owns 45,362 shares of the company’s stock worth $862,000 after acquiring an additional 17,216 shares during the period. Franklin Resources Inc. grew its holdings in Allient by 74.7% during the third quarter. Franklin Resources Inc. now owns 28,034 shares of the company’s stock worth $516,000 after acquiring an additional 11,986 shares during the period. Geode Capital Management LLC raised its position in Allient by 1.8% during the third quarter. Geode Capital Management LLC now owns 344,166 shares of the company’s stock valued at $6,537,000 after acquiring an additional 5,975 shares in the last quarter. Finally, FMR LLC lifted its holdings in Allient by 843.2% in the third quarter. FMR LLC now owns 1,153,537 shares of the company’s stock valued at $21,906,000 after acquiring an additional 1,031,243 shares during the period. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALNT. Northland Capmk raised shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Northland Securities upgraded shares of Allient from a “market perform” rating to an “outperform” rating and raised their price target for the company from $30.00 to $35.00 in a research report on Tuesday, February 11th.

Allient Stock Down 0.3 %

Allient stock opened at $20.36 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. The stock has a market capitalization of $345.06 million, a PE ratio of 23.14 and a beta of 1.43. The business has a 50 day simple moving average of $24.39 and a 200-day simple moving average of $23.19. Allient Inc. has a 12 month low of $16.91 and a 12 month high of $33.09.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Allient had a net margin of 2.64% and a return on equity of 10.80%. The company had revenue of $122.01 million during the quarter, compared to analysts’ expectations of $119.72 million. On average, analysts anticipate that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Thursday, March 20th. Allient’s dividend payout ratio is presently 15.00%.

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.