Zacks Investment Management Takes $2.44 Million Position in Allient Inc. (NASDAQ:ALNT)

Zacks Investment Management bought a new position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,598 shares of the company's stock, valued at approximately $2,443,000. Zacks Investment Management owned 0.60% of Allient as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its position in shares of 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Allient in the 4th quarter valued at about $7,268,000. Bank of Montreal Can acquired a new position in shares of Allient during the 4th quarter valued at about $2,281,000. Teacher Retirement System of Texas acquired a new position in shares of Allient during the 4th quarter valued at about $961,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Allient by 71.6% in the third quarter. JPMorgan Chase & Co. now owns 89,004 shares of the company's stock worth $1,690,000 after acquiring an additional 37,151 shares during the last quarter. Hedge funds and other institutional investors own 61.57% of the company's stock.

Allient Trading Up 0.7 %

ALNT traded up $0.14 during trading on Wednesday, hitting $21.04. 15,545 shares of the company's stock were exchanged, compared to its average volume of 113,413. Allient Inc. has a 1 year low of $16.91 and a 1 year high of $32.00. The stock has a 50 day moving average price of $23.17 and a 200 day moving average price of $23.32. The firm has a market cap of $356.59 million, a P/E ratio of 23.91 and a beta of 1.43. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85.

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

Allient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.57%. Allient's dividend payout ratio is presently 15.00%.

Wall Street Analysts Forecast Growth

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

Allient 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.