Kornitzer Capital Management Inc. KS Invests $554,000 in Allient Inc. $ALNT

Kornitzer Capital Management Inc. KS acquired a new position in shares of Allient Inc. (NASDAQ:ALNT) in the 1st quarter, Holdings Channel.com reports. The fund acquired 9,380 shares of the company’s stock, valued at approximately $554,000.

A number of other large investors have also recently bought and sold shares of the stock. Arax Advisory Partners grew its holdings in Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after buying an additional 263 shares during the last quarter. Advisory Services Network LLC acquired a new position in shares of Allient in the third quarter worth $34,000. Larson Financial Group LLC lifted its position in shares of Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of Allient by 22.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock valued at $62,000 after acquiring an additional 209 shares in the last quarter. Finally, State of Wyoming acquired a new stake in shares of Allient during the fourth quarter valued at $67,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Stock Performance

NASDAQ ALNT opened at $87.27 on Tuesday. The business’s 50-day moving average price is $82.41 and its 200 day moving average price is $70.45. 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 twelve month low of $36.85 and a twelve month high of $104.65. The company has a market capitalization of $1.48 billion, a PE ratio of 61.03 and a beta of 1.59.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a net margin of 4.25% and a return on equity of 12.47%. The business had revenue of $138.91 million during the quarter, compared to analysts’ expectations of $138.42 million. On average, research analysts predict that Allient Inc. will post 2.47 earnings per share for the current year.

Allient Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st were paid a dividend of $0.04 per share. This is an increase from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Thursday, May 21st. Allient’s payout ratio is 11.19%.

Wall Street Analysts Forecast Growth

ALNT has been the subject of a number of recent research reports. Jefferies Financial Group set a $80.00 price objective on Allient in a research report on Tuesday, May 26th. Weiss Ratings upgraded shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, July 1st. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of Allient from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Roth Capital reissued a “buy” rating and issued a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Allient has a consensus rating of “Moderate Buy” and a consensus price target of $79.83.

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.