Hsbc Holdings PLC Purchases Shares of 16,742 Allient Inc. $ALNT

Hsbc Holdings PLC bought a new stake in Allient Inc. (NASDAQ:ALNT) in the second quarter, Holdings Channel.com reports. The institutional investor bought 16,742 shares of the company’s stock, valued at approximately $1,694,000.

Several other institutional investors have also recently bought and sold shares of ALNT. Cullen Frost Bankers Inc. grew its stake in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after acquiring an additional 209 shares in the last quarter. Jag Capital Management LLC increased its stake in shares of Allient by 5.1% during the 1st quarter. Jag Capital Management LLC now owns 5,107 shares of the company’s stock worth $302,000 after purchasing an additional 246 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Allient in the second quarter worth $25,000. Arax Advisory Partners raised its stake in Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after acquiring an additional 263 shares during the period. Finally, Kilter Group LLC bought a new stake in shares of Allient in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Price Performance

Shares of Allient stock opened at $92.86 on Monday. The firm has a market capitalization of $1.58 billion, a PE ratio of 54.62 and a beta of 1.61. The company has a current ratio of 3.42, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. Allient Inc. has a 12 month low of $41.75 and a 12 month high of $118.67. The business’s 50-day moving average price is $95.18 and its 200-day moving average price is $79.09.

Allient (NASDAQ:ALNT) last released its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. Sell-side analysts forecast that Allient Inc. will post 2.73 EPS for the current fiscal year.

Allient Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Allient’s payout ratio is presently 9.41%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALNT. JPMorgan Chase & Co. boosted their price objective on Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Zacks Research raised Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Wall Street Zen raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $84.00.

Insider Buying and Selling at Allient

In other news, CEO Richard S. Warzala sold 70,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the sale, the chief executive officer owned 1,499,106 shares of the company’s stock, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 15.00% of the company’s stock.

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.