Bank of New York Mellon Corp Purchases 17,739 Shares of Allient Inc. (NASDAQ:ALNT)

Bank of New York Mellon Corp lifted its stake in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 115,095 shares of the company's stock after purchasing an additional 17,739 shares during the quarter. Bank of New York Mellon Corp owned 0.68% of Allient worth $2,794,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. New York State Teachers Retirement System bought a new stake in shares of Allient during the fourth quarter valued at about $32,000. Point72 DIFC Ltd purchased a new position in Allient during the third quarter valued at approximately $33,000. Empowered Funds LLC increased its holdings in Allient by 5.0% during the 4th quarter. Empowered Funds LLC now owns 42,586 shares of the company's stock worth $1,034,000 after acquiring an additional 2,040 shares during the period. State Street Corp increased its holdings in Allient by 0.8% during the 3rd quarter. State Street Corp now owns 306,239 shares of the company's stock worth $5,815,000 after acquiring an additional 2,453 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in Allient by 10.8% in the 3rd quarter. Fisher Asset Management LLC now owns 44,248 shares of the company's stock worth $840,000 after purchasing an additional 4,311 shares in the last quarter. Hedge funds and other institutional investors own 61.57% of the company's stock.

Wall Street Analysts Forecast Growth

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

Remove Ads

Allient Trading Up 1.3 %

Allient stock traded up $0.31 during trading hours on Monday, reaching $24.12. The stock had a trading volume of 59,236 shares, compared to its average volume of 107,858. The stock has a market cap of $406.30 million, a PE ratio of 27.41 and a beta of 1.59. The company has a fifty day simple moving average of $25.04 and a 200-day simple moving average of $23.01. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. Allient Inc. has a 52 week low of $16.91 and a 52 week high of $36.33.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.03. Allient had a return on equity of 10.80% and a net margin of 2.64%. The company had revenue of $122.01 million during the quarter, compared to analyst estimates of $119.72 million. Analysts forecast that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a $0.03 dividend. The ex-dividend date is Thursday, March 20th. This represents a $0.12 annualized dividend and a yield of 0.50%. Allient's payout ratio is 15.00%.

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.