Bank of New York Mellon Corp Makes New Investment in Allient Inc. $ALNT

Key Points

• Bank of New York Mellon acquired 87,930 Allient shares worth approximately $9.1 million, giving it a 0.52% stake. Institutional investors collectively own 61.57% of the company.
• Allient exceeded quarterly expectations, reporting $0.80 in EPS versus the $0.61 consensus and revenue of $153.77 million versus $145.68 million expected.
• Analyst sentiment is broadly positive, with the stock holding a consensus “Buy” rating, while JPMorgan raised its price target to $120. Allient also declared a quarterly dividend of $0.04 per share, though CEO Richard Warzala sold 70,000 shares.

Bank of New York Mellon Corp acquired a new stake in shares of Allient Inc. (NASDAQ:ALNT - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 87,930 shares of the company's stock, valued at approximately $9,051,000. Bank of New York Mellon Corp owned approximately 0.52% of Allient at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Arax Advisory Partners increased its holdings 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 last quarter. Advisory Services Network LLC bought a new position in shares of Allient during the 3rd quarter valued at about $34,000. Larson Financial Group LLC boosted its holdings in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company's stock valued at $37,000 after purchasing an additional 413 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Allient by 22.0% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company's stock valued at $62,000 after purchasing an additional 209 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Allient during the fourth quarter valued at about $67,000. Institutional investors own 61.57% of the company's stock.

Allient Trading Up 2.6%

ALNT opened at $88.69 on Thursday. The firm has a market cap of $1.51 billion, a P/E ratio of 52.17 and a beta of 1.62. Allient Inc. has a 12 month low of $41.75 and a 12 month high of $118.67. The company has a current ratio of 3.42, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $94.71 and a 200 day moving average of $79.60.

Allient (NASDAQ:ALNT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping 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 analysts' expectations of $145.68 million. As a group, research analysts forecast that Allient Inc. will post 2.73 EPS for the current year.

Allient Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ALNT shares. Jefferies Financial Group set a $80.00 target price on Allient in a report on Tuesday, May 26th. Weiss Ratings raised Allient from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Zacks Research raised Allient from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Roth Capital reaffirmed a "buy" rating and set a $70.00 price objective on shares of Allient in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their target price on Allient from $95.00 to $120.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, Allient presently has an average rating of "Buy" and a consensus price target of $84.00.

Insider Buying and Selling at Allient

In related news, CEO Richard S. Warzala sold 70,000 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate 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.

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