BlackRock Inc. purchased a new stake in Allient Inc. (NASDAQ:ALNT - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,251,086 shares of the company's stock, valued at approximately $128,774,000. BlackRock Inc. owned approximately 7.36% of Allient as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada lifted its holdings in shares of Allient by 19.8% in the first quarter. Royal Bank of Canada now owns 111,570 shares of the company's stock worth $2,453,000 after acquiring an additional 18,416 shares during the last quarter. AQR Capital Management LLC boosted its position in Allient by 8.0% in the first quarter. AQR Capital Management LLC now owns 53,661 shares of the company's stock valued at $1,179,000 after buying an additional 3,979 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Allient by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,736 shares of the company's stock worth $192,000 after buying an additional 390 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Allient by 8.1% during the first quarter. Empowered Funds LLC now owns 46,044 shares of the company's stock worth $1,012,000 after buying an additional 3,458 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Allient by 9.9% in the 1st quarter. Jane Street Group LLC now owns 18,379 shares of the company's stock valued at $404,000 after acquiring an additional 1,663 shares during the last quarter. Institutional investors own 61.57% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Allient from $95.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Wall Street Zen upgraded shares of Allient from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Zacks Research raised shares of Allient from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Jefferies Financial Group set a $80.00 price target on shares of Allient in a report on Tuesday, May 26th. Finally, Roth Capital restated a "buy" rating and issued a $70.00 price objective on shares of Allient in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $84.00.
Get Our Latest Analysis on ALNT
Insider Activity at Allient
In other Allient 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 $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 15.00% of the company's stock.
Allient Stock Down 3.0%
Allient stock opened at $92.86 on Friday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 54.62 and a beta of 1.61. The firm's fifty day moving average price is $95.18 and its two-hundred day moving average price is $79.02. Allient Inc. has a 1-year low of $41.75 and a 1-year 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.
Allient (NASDAQ:ALNT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to analyst estimates of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. On average, equities research analysts predict that Allient Inc. will post 2.73 earnings per share for the current fiscal year.
Allient Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th will be given a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. Allient's payout ratio is 9.41%.
Allient Company Profile
(
Free Report)
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.
Further Reading
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