Jennison Associates LLC Makes New Investment in Allient Inc. $ALNT

Key Points

• Jennison Associates LLC acquired 167,114 shares of Allient (NASDAQ:ALNT) in Q4—about $8.98 million—and institutional investors/hedge funds now own roughly 61.6% of the company.
• Allient posted an earnings beat (Q EPS $0.55 vs. $0.46 expected) and $143.35M revenue versus $133.33M expected; the stock trades near its 52‑week high ($76.28 open; 52‑week high $77.39) with a market cap of ~$1.3B and a P/E of 57.8.
• The company pays a small quarterly dividend ($0.03; 0.2% yield) and has mixed analyst coverage (three Buys, four Holds) with a consensus price target of $63.60, translating to an overall "Hold" rating.

Jennison Associates LLC acquired a new position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 167,114 shares of the company's stock, valued at approximately $8,982,000. Jennison Associates LLC owned approximately 0.99% of Allient at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Allient by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company's stock worth $54,355,000 after acquiring an additional 26,438 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Allient by 20.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company's stock worth $13,009,000 after acquiring an additional 49,384 shares in the last quarter. Portolan Capital Management LLC acquired a new position in Allient during the third quarter worth $11,530,000. Marshall Wace LLP raised its stake in Allient by 1,291.3% during the third quarter. Marshall Wace LLP now owns 153,819 shares of the company's stock worth $6,883,000 after acquiring an additional 142,763 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Allient during the third quarter worth $6,656,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Allient Stock Performance

Shares of NASDAQ:ALNT opened at $76.28 on Friday. Allient Inc. has a twelve month low of $21.52 and a twelve month high of $77.39. The firm has a market cap of $1.30 billion, a PE ratio of 57.79 and a beta of 1.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.08 and a current ratio of 3.66. The business has a fifty day moving average of $66.25 and a 200-day moving average of $60.17.

Allient (NASDAQ:ALNT - Get Free Report) last announced its earnings results on Thursday, March 5th. The company reported $0.55 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.09. Allient had a return on equity of 12.53% and a net margin of 3.97%.The company had revenue of $143.35 million during the quarter, compared to analyst estimates of $133.33 million. On average, equities research analysts predict that Allient Inc. will post 2.58 EPS for the current fiscal year.

Allient Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 3rd. Investors of record on Friday, March 20th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Friday, March 20th. Allient's dividend payout ratio (DPR) is presently 9.09%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Craig Hallum reiterated a "buy" rating and set a $75.00 price objective on shares of Allient in a research note on Monday, March 9th. Lake Street Capital started coverage on Allient in a research note on Wednesday, February 18th. They issued a "buy" rating and a $79.00 target price for the company. Roth Mkm raised their target price on Allient from $56.00 to $69.00 and gave the company a "buy" rating in a research note on Monday, March 16th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Allient in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.60.

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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