Allient Inc. $ALNT Shares Sold by Renaissance Technologies LLC

Key Points

• Renaissance Technologies reduced its Allient stake by 21.1% in the first quarter, selling 26,800 shares and retaining 100,172 shares valued at approximately $5.9 million. Institutional investors collectively own 61.57% of the company.
• Allient exceeded quarterly expectations, reporting earnings of $0.80 per share versus the $0.61 consensus estimate and revenue of $153.77 million, above the $145.68 million forecast.
• Allient shares opened at $93.25, while analysts maintained a “Moderate Buy” consensus with an average target price of $79.83. The company also announced a quarterly dividend of $0.04 per share, representing a 0.2% yield.

Renaissance Technologies LLC cut its stake in Allient Inc. (NASDAQ:ALNT - Free Report) by 21.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,172 shares of the company's stock after selling 26,800 shares during the period. Renaissance Technologies LLC owned 0.59% of Allient worth $5,919,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new stake in Allient during the third quarter valued at $3,196,000. Tulsa Wealth Advisors INC purchased a new stake in shares of Allient during the 4th quarter worth about $659,000. Jennison Associates LLC acquired a new stake in shares of Allient during the 4th quarter valued at about $8,982,000. Vanguard Group Inc. increased its stake in shares of Allient by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company's stock valued at $54,355,000 after purchasing an additional 26,438 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new position in Allient in the 4th quarter worth about $585,000. Hedge funds and other institutional investors own 61.57% of the company's stock.

Allient Stock Down 1.4%

NASDAQ ALNT opened at $93.25 on Thursday. The business's fifty day simple moving average is $89.77 and its 200-day simple moving average is $74.11. The company has a quick ratio of 2.15, a current ratio of 3.73 and a debt-to-equity ratio of 0.58. The firm has a market cap of $1.59 billion, a PE ratio of 65.21 and a beta of 1.61. Allient Inc. has a 52 week low of $38.24 and a 52 week high of $104.65.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.61 by $0.19. The business had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. As a group, equities analysts anticipate that Allient Inc. will post 2.47 earnings per share for the current year.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th will be issued a dividend of $0.04 per share. The ex-dividend date is Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient's dividend payout ratio is 11.19%.

Analyst Ratings Changes

ALNT has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Allient from $80.00 to $95.00 and gave the company an "overweight" rating in a report on Monday, July 13th. Macquarie Infrastructure set a $80.00 target price on Allient in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Allient from a "hold (c)" rating to a "hold (c+)" rating in a research note on Monday. Wall Street Zen lowered shares of Allient from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Allient has a consensus rating of "Moderate Buy" and a consensus target price 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.

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