Confluence Investment Management LLC Decreases Position in Allient Inc. (NASDAQ:ALNT)

Confluence Investment Management LLC lessened its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,731 shares of the company’s stock after selling 12,050 shares during the period. Confluence Investment Management LLC owned approximately 0.49% of Allient worth $2,065,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALNT. Juniper Investment Company LLC purchased a new position in Allient in the 1st quarter worth $27,069,000. Vanguard Group Inc. grew its position in Allient by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 728,813 shares of the company’s stock worth $26,004,000 after purchasing an additional 9,680 shares during the period. Wasatch Advisors LP acquired a new stake in Allient during the 1st quarter worth about $20,914,000. Pinnacle Associates Ltd. acquired a new stake in Allient during the 1st quarter worth about $9,610,000. Finally, Russell Investments Group Ltd. acquired a new stake in Allient during the 1st quarter worth about $5,723,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

ALNT traded down $1.70 during midday trading on Friday, hitting $25.76. 59,507 shares of the company were exchanged, compared to its average volume of 83,649. The company’s 50 day simple moving average is $26.26 and its 200 day simple moving average is $28.83. The firm has a market capitalization of $432.25 million, a price-to-earnings ratio of 17.06 and a beta of 1.56. The company has a current ratio of 3.56, a quick ratio of 1.85 and a debt-to-equity ratio of 0.90. Allient Inc. has a 1-year low of $23.61 and a 1-year high of $37.17.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, May 8th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. Allient had a return on equity of 15.26% and a net margin of 4.26%. The firm had revenue of $146.71 million for the quarter, compared to analysts’ expectations of $145.84 million. As a group, sell-side analysts predict that Allient Inc. will post 1.85 earnings per share for the current year.

Allient Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Wednesday, May 22nd. Allient’s dividend payout ratio (DPR) is presently 7.95%.

Wall Street Analyst Weigh In

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

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.