Kennedy Capital Management LLC Invests $2.35 Million in Allient Inc. (NASDAQ:ALNT)

Kennedy Capital Management LLC acquired a new stake in shares of Allient Inc. (NASDAQ:ALNT) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,907 shares of the company’s stock, valued at approximately $2,352,000. Kennedy Capital Management LLC owned approximately 0.39% of Allient at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Shell Asset Management Co. bought a new stake in Allient during the 1st quarter valued at about $35,000. New York State Teachers Retirement System bought a new stake in Allient during the 1st quarter valued at about $41,000. Ameritas Investment Partners Inc. bought a new stake in Allient during the 1st quarter valued at about $49,000. Allspring Global Investments Holdings LLC bought a new stake in Allient during the 1st quarter valued at about $57,000. Finally, EntryPoint Capital LLC purchased a new position in Allient during the 1st quarter valued at about $70,000. Institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

NASDAQ:ALNT traded up $0.12 during trading hours on Wednesday, hitting $28.64. 8,993 shares of the company were exchanged, compared to its average volume of 78,110. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.56 and a quick ratio of 1.85. Allient Inc. has a 52-week low of $23.61 and a 52-week high of $39.54. The company’s 50 day moving average price is $26.25 and its 200-day moving average price is $28.85. The stock has a market capitalization of $480.58 million, a price-to-earnings ratio of 19.15 and a beta of 1.56.

Allient (NASDAQ:ALNT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.51 by $0.07. Allient had a net margin of 4.26% and a return on equity of 15.26%. The business had revenue of $146.71 million during the quarter, compared to analysts’ expectations of $145.84 million. As a group, research analysts forecast that Allient Inc. will post 1.85 earnings per share for the current year.

Allient Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, May 22nd. Allient’s dividend payout ratio is currently 7.95%.

Wall Street Analyst Weigh In

Separately, Roth Mkm dropped their target price on shares of Allient from $42.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd.

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.