Assenagon Asset Management S.A. Grows Stake in Allient Inc. (NASDAQ:ALNT)

Assenagon Asset Management S.A. boosted its holdings in Allient Inc. (NASDAQ:ALNT - Free Report) by 56.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,754 shares of the company's stock after purchasing an additional 43,167 shares during the quarter. Assenagon Asset Management S.A. owned about 0.71% of Allient worth $2,274,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Juniper Investment Company LLC purchased a new position in shares of Allient during the first quarter valued at approximately $27,069,000. Russell Investments Group Ltd. bought a new stake in shares of Allient in the 1st quarter worth $5,723,000. Silvercrest Asset Management Group LLC purchased a new stake in shares of Allient in the first quarter valued at about $5,696,000. Teton Advisors Inc. bought a new position in shares of Allient during the first quarter valued at about $4,164,000. Finally, Gamco Investors INC. ET AL purchased a new position in Allient during the first quarter worth about $3,630,000. Institutional investors own 61.57% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on ALNT shares. Northland Securities dropped their target price on shares of Allient from $35.00 to $30.00 and set a "market perform" rating on the stock in a research report on Friday, August 9th. Roth Mkm cut their price objective on Allient from $39.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Finally, Craig Hallum decreased their target price on Allient from $41.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, August 9th.

Allient Stock Performance

Shares of Allient stock traded up $0.43 on Friday, reaching $17.72. 218,724 shares of the company traded hands, compared to its average volume of 95,594. The company has a 50 day moving average of $19.17 and a 200 day moving average of $24.02. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.90 and a quick ratio of 2.00. Allient Inc. has a 52 week low of $16.91 and a 52 week high of $36.33. The firm has a market capitalization of $298.40 million, a PE ratio of 14.91 and a beta of 1.50.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). The firm had revenue of $136.03 million for the quarter, compared to the consensus estimate of $137.55 million. Allient had a net margin of 3.35% and a return on equity of 13.04%. During the same period last year, the company posted $0.58 earnings per share. Equities analysts forecast that Allient Inc. will post 1.29 earnings per share for the current year.

Allient Announces Dividend

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 dividend of $0.03 per share. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a yield of 0.68%. Allient's dividend payout ratio is presently 10.34%.

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.