Nuveen LLC Takes Position in Allient Inc. $ALNT

Key Points

• Nuveen LLC invested approximately $47.03 million in Allient Inc. by acquiring 2,139,461 shares, making it the owner of about 12.64% of the company.
• Allient recently announced a quarterly dividend of $0.03 per share, reflecting an annualized yield of 0.3%, with the payout scheduled for September 4th.
• The company reported a Q2 earnings per share (EPS) of $0.57, surpassing analysts' expectations, with a revenue of $139.58 million, exceeding the forecast of $132.89 million.

Nuveen LLC acquired a new position in Allient Inc. (NASDAQ:ALNT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,139,461 shares of the company's stock, valued at approximately $47,025,000. Nuveen LLC owned approximately 12.64% of Allient at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Allient by 4.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,346 shares of the company's stock worth $203,000 after purchasing an additional 380 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Allient by 0.3% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 192,048 shares of the company's stock worth $4,221,000 after purchasing an additional 511 shares in the last quarter. Deutsche Bank AG raised its holdings in Allient by 2.9% in the 1st quarter. Deutsche Bank AG now owns 18,221 shares of the company's stock worth $400,000 after purchasing an additional 520 shares in the last quarter. CWM LLC raised its holdings in Allient by 105.2% in the 1st quarter. CWM LLC now owns 1,890 shares of the company's stock worth $42,000 after purchasing an additional 969 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in Allient by 1.3% in the 4th quarter. Gabelli Funds LLC now owns 77,569 shares of the company's stock worth $1,883,000 after purchasing an additional 1,000 shares in the last quarter. 61.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALNT has been the topic of a number of recent research reports. Northland Securities set a $35.00 target price on shares of Allient in a research report on Monday, May 5th. Northland Capmk downgraded shares of Allient from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 5th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Allient presently has a consensus rating of "Hold" and an average price target of $35.00.

Allient Stock Down 0.6%

ALNT stock traded down $0.2850 during trading on Tuesday, hitting $44.2850. 21,568 shares of the stock traded hands, compared to its average volume of 117,056. Allient Inc. has a 1 year low of $16.91 and a 1 year high of $48.22. The firm's 50 day moving average is $38.61 and its two-hundred day moving average is $29.84. The stock has a market cap of $750.63 million, a price-to-earnings ratio of 51.49 and a beta of 1.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 3.74 and a quick ratio of 2.17.

Allient (NASDAQ:ALNT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.09. Allient had a net margin of 2.75% and a return on equity of 9.97%. The firm had revenue of $139.58 million for the quarter, compared to the consensus estimate of $132.89 million. On average, sell-side analysts anticipate that Allient Inc. will post 1.43 EPS for the current year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Allient's dividend payout ratio (DPR) is presently 13.95%.

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.