Connor Clark & Lunn Investment Management Ltd. Sells 30,289 Shares of Allient Inc. $ALNT

Key Points

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

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Allient in the first quarter worth $60,000. Citadel Advisors LLC grew its holdings in shares of Allient by 8.5% in the fourth quarter. Citadel Advisors LLC now owns 73,880 shares of the company's stock worth $1,794,000 after acquiring an additional 5,769 shares during the period. Geode Capital Management LLC grew its holdings in shares of Allient by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 345,726 shares of the company's stock worth $8,396,000 after acquiring an additional 1,560 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Allient in the fourth quarter worth $41,000. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Allient by 26.7% in the first quarter. Envestnet Asset Management Inc. now owns 104,988 shares of the company's stock worth $2,308,000 after acquiring an additional 22,098 shares during the period. Institutional investors own 61.57% of the company's stock.

Allient Stock Performance

NASDAQ:ALNT opened at $44.56 on Tuesday. The stock has a 50-day simple moving average of $38.61 and a two-hundred day simple moving average of $29.84. Allient Inc. has a 52-week low of $16.91 and a 52-week high of $48.22. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.17 and a current ratio of 3.74. The firm has a market capitalization of $755.29 million, a PE ratio of 51.81 and a beta of 1.52.

Allient (NASDAQ:ALNT - Get Free Report) last released 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 analyst estimates of $132.89 million. Analysts forecast that Allient Inc. will post 1.43 EPS for the current year.

Allient Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Northland Capmk lowered Allient from a "strong-buy" rating to a "hold" rating in a report on Monday, May 5th. Northland Securities set a $35.00 price objective on Allient in a report on Monday, May 5th.

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.

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