Charles Schwab Investment Management Inc. Boosts Holdings in Allient Inc. $ALNT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Allient Inc. by 26.1% in Q1, owning approximately 91,033 shares valued at $2 million.
• Allient reported a quarterly earnings per share of $0.57, exceeding the estimate by $0.09, and announced a $0.03 quarterly dividend to be paid on September 4th.
• Analysts have a consensus rating of "Hold" for Allient, with a target price set at $35.00 following a downgrade from Northland Capital.

Charles Schwab Investment Management Inc. boosted its position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 26.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,033 shares of the company's stock after purchasing an additional 18,854 shares during the period. Charles Schwab Investment Management Inc. owned about 0.54% of Allient worth $2,001,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Allient by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 908,965 shares of the company's stock valued at $19,979,000 after buying an additional 65,061 shares during the period. Juniper Investment Company LLC boosted its position in Allient by 14.6% in the 4th quarter. Juniper Investment Company LLC now owns 869,149 shares of the company's stock valued at $21,103,000 after buying an additional 110,497 shares during the period. Dimensional Fund Advisors LP boosted its position in Allient by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 702,254 shares of the company's stock valued at $17,051,000 after buying an additional 3,326 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Allient by 8.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 442,335 shares of the company's stock valued at $9,731,000 after buying an additional 36,142 shares during the period. Finally, Pinnacle Associates Ltd. lifted its position in shares of Allient by 37.6% in the 1st quarter. Pinnacle Associates Ltd. now owns 327,132 shares of the company's stock worth $7,190,000 after purchasing an additional 89,463 shares during the period. 61.57% of the stock is currently owned by institutional investors.

Allient Stock Up 1.6%

Shares of ALNT traded up $0.74 during mid-day trading on Thursday, hitting $45.41. The company's stock had a trading volume of 30,420 shares, compared to its average volume of 120,577. The company's 50-day moving average is $41.27 and its 200-day moving average is $31.45. Allient Inc. has a 52-week low of $16.91 and a 52-week high of $48.22. The firm has a market capitalization of $769.61 million, a price-to-earnings ratio of 52.80 and a beta of 1.51. The company has a current ratio of 3.74, a quick ratio of 2.17 and a debt-to-equity ratio of 0.70.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. Allient had a net margin of 2.75% and a return on equity of 9.97%. The firm had revenue of $139.58 million during the quarter, compared to analysts' expectations of $132.89 million. On average, equities research analysts forecast that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Thursday, August 21st. Allient's dividend payout ratio is presently 13.95%.

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.