Diamond Hill Capital Management Inc. Lowers Stake in Allient Inc. $ALNT

Diamond Hill Capital Management Inc. lowered its stake in shares of Allient Inc. (NASDAQ:ALNT) by 37.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 90,819 shares of the company’s stock after selling 54,424 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Allient were worth $4,882,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ALNT. Royal Bank of Canada lifted its holdings in Allient by 19.8% during the first quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after buying an additional 18,416 shares during the period. AQR Capital Management LLC lifted its holdings in Allient by 8.0% during the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company’s stock worth $1,179,000 after buying an additional 3,979 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Allient by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company’s stock worth $192,000 after buying an additional 390 shares during the period. Empowered Funds LLC lifted its holdings in Allient by 8.1% during the first quarter. Empowered Funds LLC now owns 46,044 shares of the company’s stock worth $1,012,000 after buying an additional 3,458 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Allient by 9.9% during the first quarter. Jane Street Group LLC now owns 18,379 shares of the company’s stock worth $404,000 after purchasing an additional 1,663 shares in the last quarter. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

Shares of ALNT stock opened at $63.37 on Friday. The business’s fifty day simple moving average is $66.35 and its 200-day simple moving average is $61.38. The company has a market cap of $1.08 billion, a PE ratio of 44.31 and a beta of 1.65. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. Allient Inc. has a 12-month low of $29.57 and a 12-month high of $80.39.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The business had revenue of $138.92 million for the quarter, compared to analyst estimates of $138.42 million. Analysts expect that Allient Inc. will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Thursday, May 21st will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, May 21st. This is a positive change from Allient’s previous quarterly dividend of $0.03. Allient’s payout ratio is currently 11.19%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALNT. Roth Mkm reaffirmed a “buy” rating and set a $70.00 price target on shares of Allient in a research report on Friday, May 8th. Craig Hallum reaffirmed a “buy” rating and set a $75.00 price target on shares of Allient in a research report on Monday, March 9th. Weiss Ratings downgraded Allient from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded Allient from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, JPMorgan Chase & Co. reduced their price target on Allient from $70.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.25.

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.