Diamond Hill Capital Management Inc. Reduces Stock Position in Allient Inc. (NASDAQ:ALNT)

Diamond Hill Capital Management Inc. cut its stake in Allient Inc. (NASDAQ:ALNT - Free Report) by 19.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 191,537 shares of the company's stock after selling 47,307 shares during the quarter. Diamond Hill Capital Management Inc. owned 1.14% of Allient worth $4,651,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System purchased a new stake in shares of Allient in the fourth quarter worth approximately $32,000. Point72 DIFC Ltd bought a new position in shares of Allient in the third quarter valued at approximately $33,000. AlphaQuest LLC grew its holdings in shares of Allient by 283.4% in the fourth quarter. AlphaQuest LLC now owns 9,889 shares of the company's stock valued at $240,000 after acquiring an additional 7,310 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Allient in the third quarter valued at approximately $249,000. Finally, Mission Wealth Management LP bought a new position in shares of Allient in the fourth quarter valued at approximately $349,000. 61.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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Allient Stock Performance

NASDAQ ALNT traded up $0.60 on Wednesday, hitting $24.26. 92,332 shares of the stock traded hands, compared to its average volume of 107,447. The business's fifty day moving average is $25.08 and its two-hundred day moving average is $22.94. Allient Inc. has a 12 month low of $16.91 and a 12 month high of $36.33. The firm has a market capitalization of $408.66 million, a price-to-earnings ratio of 27.57 and a beta of 1.59. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10.

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

Allient Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Thursday, March 20th will be given a dividend of $0.03 per share. The ex-dividend date is Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.49%. Allient's dividend payout ratio is currently 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.