Connor Clark & Lunn Investment Management Ltd. Has $677,000 Stock Position in Allient Inc. $ALNT

Key Points

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Connor Clark & Lunn Investment Management Ltd. lessened its stake in Allient Inc. (NASDAQ:ALNT - Free Report) by 49.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,788 shares of the company's stock after selling 30,289 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of Allient worth $677,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ALNT. JPMorgan Chase & Co. boosted its holdings in shares of Allient by 4.2% in the 4th quarter. JPMorgan Chase & Co. now owns 92,737 shares of the company's stock valued at $2,252,000 after buying an additional 3,733 shares during the last quarter. Alliancebernstein L.P. acquired a new stake in shares of Allient in the 4th quarter valued at approximately $211,000. Geode Capital Management LLC boosted its holdings in shares of Allient by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 345,726 shares of the company's stock valued at $8,396,000 after buying an additional 1,560 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Allient by 56.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 82,890 shares of the company's stock valued at $2,013,000 after buying an additional 30,047 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Allient by 8.1% in the 4th quarter. Invesco Ltd. now owns 22,993 shares of the company's stock valued at $558,000 after buying an additional 1,724 shares during the last quarter. Institutional investors and hedge funds own 61.57% of the company's stock.

Allient Stock Performance

Allient stock traded up $2.72 during mid-day trading on Friday, hitting $46.86. 332,910 shares of the company's stock traded hands, compared to its average volume of 187,678. The firm has a 50 day simple moving average of $39.44 and a two-hundred day simple moving average of $30.36. Allient Inc. has a fifty-two week low of $16.91 and a fifty-two week high of $48.22. The stock has a market cap of $794.28 million, a price-to-earnings ratio of 54.49 and a beta of 1.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17.

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

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.3%. Allient's dividend payout ratio (DPR) is currently 13.95%.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALNT. Northland Securities set a $35.00 price objective on Allient in a report on Monday, May 5th. Northland Capmk downgraded Allient from a "strong-buy" rating to a "hold" rating in a report on Monday, May 5th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $35.00.

Allient 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.