Confluence Investment Management LLC lessened its holdings in shares of Allient Inc. (NASDAQ:ALNT – Free Report) 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 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.
View Our Latest Research Report on Allient
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.
Further Reading
- Five stocks we like better than Allient
- How to Choose Top Rated Stocks
- Market Crash? No Problem for DoorDash Stock’s Impressive Earnings
- How to Capture the Benefits of Dividend Increases
- Snap’s Stock Plummets on Q2 Revenue Guidance Shortfall
- Investing In Automotive Stocks
- Hims & Hers Stock Falls on DexCom Fears: Analysts Predict Rally
Receive News & Ratings for Allient Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allient and related companies with MarketBeat.com's FREE daily email newsletter.