Allient Inc. $ALNT Stake Lessened by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC lessened its holdings in Allient Inc. (NASDAQ:ALNT) by 67.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,588 shares of the company’s stock after selling 5,269 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Allient were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Meeder Asset Management Inc. acquired a new position in Allient during the second quarter valued at $25,000. Arax Advisory Partners lifted its stake in Allient by 113.9% in the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after acquiring an additional 263 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Allient during the 3rd quarter worth about $34,000. Larson Financial Group LLC boosted its position in Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after acquiring an additional 413 shares during the period. Finally, Kilter Group LLC purchased a new position in Allient during the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Allient

In related news, CEO Richard Warzala sold 70,000 shares of the firm’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 transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This trade represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 15.00% of the company’s stock.

Allient Stock Up 4.8%

Shares of ALNT stock opened at $98.66 on Friday. The stock’s 50 day simple moving average is $94.48 and its 200 day simple moving average is $80.87. Allient Inc. has a twelve month low of $41.75 and a twelve month high of $118.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 58.04 and a beta of 1.62.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.61 by $0.19. Allient had a return on equity of 13.55% and a net margin of 4.98%.The company had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. As a group, research analysts predict that Allient Inc. will post 2.73 EPS for the current year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Allient’s dividend payout ratio is currently 9.41%.

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.