Diamond Hill Capital Management LLC Investment Advisor Takes $3.99 Million Position in Allient Inc. $ALNT

Key Points

• Diamond Hill Capital Management purchased 38,779 shares of Allient, valued at approximately $3.99 million, giving it a 0.23% stake. Institutional investors and hedge funds collectively own 61.57% of the company.
• Allient exceeded quarterly expectations, reporting $0.80 earnings per share versus the $0.61 consensus estimate and revenue of $153.77 million versus $145.68 million expected.
• Shares traded at $113.02, near their 52-week high, while analysts maintained a generally positive outlook with an average “Buy” rating. CEO Richard Warzala separately sold 70,000 shares for about $7.95 million.

Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in Allient Inc. (NASDAQ:ALNT - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,779 shares of the company's stock, valued at approximately $3,992,000. Diamond Hill Capital Management LLC Investment Advisor owned approximately 0.23% of Allient at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Arax Advisory Partners lifted 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 purchasing an additional 263 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Allient during the third quarter worth about $34,000. Larson Financial Group LLC grew its holdings in shares of Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company's stock worth $37,000 after buying an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company's stock worth $62,000 after buying an additional 209 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Allient in the fourth quarter valued at approximately $67,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Allient Trading Up 1.4%

NASDAQ:ALNT opened at $113.02 on Tuesday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 66.48 and a beta of 1.61. Allient Inc. has a one year low of $41.75 and a one year high of $118.67. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The business's 50-day simple moving average is $94.34 and its 200 day simple moving average is $76.94.

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, topping analysts' consensus estimates of $0.61 by $0.19. The business had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. As a group, sell-side analysts predict that Allient Inc. will post 2.72 earnings per share for the current fiscal year.

Allient Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, August 19th. Allient's dividend payout ratio is currently 9.41%.

Insider Transactions 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 shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer directly owned 1,499,106 shares of the company's stock, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 15.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Allient from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 8th. Jefferies Financial Group set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Weiss Ratings upgraded Allient from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. Roth Capital reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Allient in a research note on Friday, May 8th. Finally, JPMorgan Chase & Co. boosted their target price on Allient from $95.00 to $120.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $84.00.

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.

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