Hsbc Holdings PLC Has $1.69 Million Stock Holdings in Allient Inc. $ALNT

Key Points

• Hsbc Holdings PLC cut its Allient stake by 49.4% in the second quarter, selling 16,324 shares and retaining 16,742 shares valued at approximately $1.69 million. Institutional investors collectively own 61.57% of Allient.
• Allient reported quarterly EPS of $0.80, beating analyst expectations of $0.61, while revenue of $153.77 million also exceeded estimates. The stock traded at $98.66, up 4.8%, with a market capitalization of about $1.68 billion.
• Analyst sentiment remains positive, with an overall “Buy” rating and JPMorgan raising its price target to $120. However, CEO Richard Warzala sold 70,000 shares for approximately $7.95 million; Allient also declared a quarterly dividend of $0.04 per share.

Hsbc Holdings PLC decreased its stake in Allient Inc. (NASDAQ:ALNT - Free Report) by 49.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,742 shares of the company's stock after selling 16,324 shares during the period. Hsbc Holdings PLC owned 0.10% of Allient worth $1,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ALNT. Meeder Asset Management Inc. bought a new position in Allient in the second quarter valued at approximately $25,000. Kilter Group LLC bought a new stake in Allient during the second quarter worth $37,000. Arax Advisory Partners lifted its stake in Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company's stock valued at $27,000 after acquiring an additional 263 shares during the last quarter. Larson Financial Group LLC lifted its stake in Allient by 149.1% in the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company's stock valued at $37,000 after acquiring an additional 413 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Allient in the 3rd quarter valued at about $34,000. Institutional investors own 61.57% of the company's stock.

Allient Trading Up 4.8%

NASDAQ:ALNT opened at $98.66 on Friday. The firm's 50 day moving average is $94.48 and its 200 day moving average is $80.87. Allient Inc. has a 12 month low of $41.75 and a 12 month high of $118.67. The stock has a market capitalization of $1.68 billion, a PE ratio of 58.04 and a beta of 1.62. 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 issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating analysts' consensus estimates of $0.61 by $0.19. The firm had revenue of $153.77 million for the quarter, compared to analysts' expectations of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. Sell-side analysts expect that Allient Inc. will post 2.73 earnings per share for the current year.

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were given a $0.04 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. Allient's payout ratio is 9.41%.

Insider Activity

In related news, CEO Richard Warzala sold 70,000 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALNT shares. Jefferies Financial Group set a $80.00 price target on Allient in a report on Tuesday, May 26th. Zacks Research raised shares of Allient from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. JPMorgan Chase & Co. upped 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. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a report on Tuesday, May 26th. Finally, Weiss Ratings upgraded shares of Allient from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat, Allient currently has an average rating of "Buy" and a consensus price target of $84.00.

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.

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