Envestnet Asset Management Inc. Purchases 30,047 Shares of Allient Inc. (NASDAQ:ALNT)

Envestnet Asset Management Inc. raised its position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 56.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 82,890 shares of the company's stock after purchasing an additional 30,047 shares during the quarter. Envestnet Asset Management Inc. owned 0.49% of Allient worth $2,013,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Hurley Capital LLC bought a new stake in Allient during the fourth quarter valued at approximately $38,000. Integrated Quantitative Investments LLC purchased a new stake in shares of Allient in the 4th quarter worth $300,000. Geode Capital Management LLC increased its position in Allient by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 345,726 shares of the company's stock worth $8,396,000 after buying an additional 1,560 shares in the last quarter. Alliancebernstein L.P. bought a new position in shares of Allient in the fourth quarter worth about $211,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Allient during the 4th quarter valued at about $7,268,000. Hedge funds and other institutional investors own 61.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALNT. Northland Capmk upgraded shares of Allient from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, February 11th. Northland Securities raised shares of Allient from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $30.00 to $35.00 in a research note on Tuesday, February 11th.

Allient Price Performance

Shares of NASDAQ ALNT traded up $0.58 during mid-day trading on Friday, reaching $22.21. The company's stock had a trading volume of 11,358 shares, compared to its average volume of 113,729. The company has a debt-to-equity ratio of 0.85, a current ratio of 4.10 and a quick ratio of 2.18. Allient Inc. has a 52 week low of $16.91 and a 52 week high of $32.00. The stock has a fifty day moving average of $22.45 and a two-hundred day moving average of $23.44. The firm has a market capitalization of $376.42 million, a PE ratio of 25.24 and a beta of 1.43.

Allient (NASDAQ:ALNT - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The business had revenue of $122.01 million during the quarter, compared to the consensus estimate of $119.72 million. Allient had a return on equity of 10.80% and a net margin of 2.64%. As a group, sell-side analysts anticipate that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Thursday, March 20th were paid a dividend of $0.03 per share. The ex-dividend date was Thursday, March 20th. This represents a $0.12 annualized dividend and a yield of 0.54%. Allient's payout ratio is 15.00%.

About Allient

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.