Lazard Asset Management LLC Raises Stake in Allient Inc. (NASDAQ:ALNT)

Lazard Asset Management LLC lifted its position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 84.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,769 shares of the company's stock after buying an additional 25,101 shares during the quarter. Lazard Asset Management LLC owned approximately 0.33% of Allient worth $1,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Gabelli Funds LLC raised its stake in shares of Allient by 1.3% during the 4th quarter. Gabelli Funds LLC now owns 77,569 shares of the company's stock worth $1,883,000 after buying an additional 1,000 shares during the last quarter. Aquatic Capital Management LLC raised its stake in shares of Allient by 17.1% during the 4th quarter. Aquatic Capital Management LLC now owns 7,847 shares of the company's stock worth $191,000 after buying an additional 1,147 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Allient during the 4th quarter worth $32,000. Hurley Capital LLC acquired a new position in shares of Allient during the 4th quarter worth $38,000. Finally, Geode Capital Management LLC raised its stake in shares of Allient by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 345,726 shares of the company's stock worth $8,396,000 after buying an additional 1,560 shares during the last quarter. Institutional investors and hedge funds own 61.57% of the company's stock.

Allient Price Performance

ALNT stock traded down $0.56 during trading on Friday, hitting $29.88. The stock had a trading volume of 109,429 shares, compared to its average volume of 116,951. The company's 50 day moving average price is $23.91 and its two-hundred day moving average price is $24.62. Allient Inc. has a 1-year low of $16.91 and a 1-year high of $32.95. The stock has a market cap of $505.84 million, a price-to-earnings ratio of 33.95 and a beta of 1.39. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10.

Allient (NASDAQ:ALNT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.13. The firm had revenue of $134.62 million during the quarter, compared to the consensus estimate of $125.00 million. Allient had a net margin of 2.64% and a return on equity of 10.80%. On average, sell-side analysts forecast that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, May 22nd. Allient's dividend payout ratio (DPR) is 20.34%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALNT. Northland Securities set a $35.00 target price on shares of Allient in a research note on Monday, May 5th. Northland Capmk downgraded shares of Allient from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 5th.

About Allient

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.