Diamond Hill Capital Management Inc. Acquires 54,005 Shares of Allient Inc. (NASDAQ:ALNT)

Diamond Hill Capital Management Inc. boosted its position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 29.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 238,844 shares of the company's stock after purchasing an additional 54,005 shares during the quarter. Diamond Hill Capital Management Inc. owned about 1.42% of Allient worth $4,536,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Craig Hallum cut their price objective on shares of Allient from $41.00 to $30.00 and set a "buy" rating for the company in a report on Friday, August 9th. Roth Mkm lowered their price target on shares of Allient from $39.00 to $28.00 and set a "buy" rating on the stock in a report on Tuesday, August 13th. Finally, Northland Securities decreased their target price 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.

Allient Stock Performance

NASDAQ:ALNT traded down $0.14 during trading hours on Tuesday, reaching $23.25. 85,800 shares of the stock were exchanged, compared to its average volume of 98,989. The firm has a 50 day simple moving average of $19.09 and a 200-day simple moving average of $23.47. The company has a quick ratio of 2.00, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. Allient Inc. has a 52 week low of $16.91 and a 52 week high of $36.33. The stock has a market capitalization of $391.65 million, a P/E ratio of 26.58 and a beta of 1.51.

Allient (NASDAQ:ALNT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.10. The firm had revenue of $125.21 million during the quarter, compared to analyst estimates of $124.28 million. Allient had a return on equity of 10.80% and a net margin of 2.64%. During the same period in the previous year, the company posted $0.61 EPS. As a group, sell-side analysts forecast that Allient Inc. will post 1.29 earnings per share for the current fiscal year.

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Thursday, November 21st. Allient's dividend payout ratio is presently 13.64%.

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.