29,977 Shares of Allient Inc. $ALNT Acquired by Bank of America Corp DE

Key Points

• Bank of America acquired 29,977 Allient shares worth approximately $3.1 million during the second quarter, joining other institutional investors such as BlackRock and Bank of New York Mellon. Institutions collectively own 61.57% of the company.
• Allient exceeded quarterly expectations, reporting $0.80 in adjusted EPS versus a $0.61 consensus estimate and revenue of $153.77 million, above the $145.68 million forecast.
• ALNT shares opened at $112.10, near their 12-month high, while analyst sentiment remained broadly positive with a consensus “Buy” rating; however, CEO Richard Warzala sold 70,000 shares.

Bank of America Corp DE purchased a new position in Allient Inc. (NASDAQ:ALNT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 29,977 shares of the company's stock, valued at approximately $3,086,000. Bank of America Corp DE owned about 0.18% of Allient at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new position in Allient in the 2nd quarter valued at about $128,774,000. Tulsa Wealth Advisors INC acquired a new position in shares of Allient in the 4th quarter valued at approximately $659,000. Sei Investments Co. boosted its stake in shares of Allient by 87.9% during the 1st quarter. Sei Investments Co. now owns 55,424 shares of the company's stock valued at $3,275,000 after buying an additional 25,935 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Allient during the second quarter worth approximately $9,051,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Allient during the second quarter worth approximately $3,992,000. Hedge funds and other institutional investors own 61.57% of the company's stock.

Insider Buying and Selling

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

Allient Stock Performance

Shares of ALNT stock opened at $112.10 on Wednesday. Allient Inc. has a 12-month low of $41.75 and a 12-month high of $118.67. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 65.94 and a beta of 1.62. The business has a 50 day simple moving average of $98.65 and a 200 day simple moving average of $84.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95.

Allient (NASDAQ:ALNT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $145.68 million. On average, equities research analysts anticipate that Allient Inc. will post 2.73 EPS for the current year.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were given a $0.04 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.1%. Allient's dividend payout ratio (DPR) is 9.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Allient from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 19th. JPMorgan Chase & Co. lifted their price target on shares of Allient from $95.00 to $120.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Weiss Ratings downgraded shares of Allient from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, September 21st. Finally, Zacks Research upgraded shares of Allient from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $84.00.

Allient Company Profile

Allient Inc NASDAQ: ALNT is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.

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