Parcion Private Wealth LLC Sells 6,616 Shares of Allient Inc. $ALNT

Key Points

• Parcion Private Wealth LLC reduced its holdings in Allient Inc. by 18.7%, selling 6,616 shares and now owning approximately 28,798 shares valued at $1,046,000.
• Allient's shares opened at $51.74 with a fifty-two week range of $16.91 to $53.62, and the company reported earnings of $0.57 per share, surpassing estimates.
• The company recently declared a quarterly dividend of $0.03 per share, resulting in an annualized yield of 0.2% and a dividend payout ratio of 13.95%.

Parcion Private Wealth LLC cut its position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,798 shares of the company's stock after selling 6,616 shares during the period. Parcion Private Wealth LLC owned approximately 0.17% of Allient worth $1,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Allient during the first quarter valued at approximately $60,000. American Century Companies Inc. lifted its stake in shares of Allient by 27.9% in the 1st quarter. American Century Companies Inc. now owns 27,553 shares of the company's stock valued at $606,000 after purchasing an additional 6,002 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in Allient by 26.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 104,988 shares of the company's stock valued at $2,308,000 after buying an additional 22,098 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Allient by 1.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 450,279 shares of the company's stock valued at $16,350,000 after buying an additional 7,944 shares during the period. Finally, AIGH Capital Management LLC purchased a new stake in Allient during the 2nd quarter valued at $7,262,000. 61.57% of the stock is owned by institutional investors.

Allient Trading Up 1.4%

Shares of NASDAQ ALNT opened at $51.74 on Wednesday. Allient Inc. has a fifty-two week low of $16.91 and a fifty-two week high of $53.62. The business's 50 day moving average price is $46.02 and its 200-day moving average price is $36.79. The company has a market cap of $876.99 million, a price-to-earnings ratio of 60.16 and a beta of 1.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.17 and a current ratio of 3.74.

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

Allient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.2%. The ex-dividend date was Thursday, August 21st. Allient's dividend payout ratio (DPR) is presently 13.95%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALNT. Weiss Ratings restated a "hold (c)" rating on shares of Allient in a report on Wednesday, October 8th. JPMorgan Chase & Co. began coverage on Allient in a report on Monday. They set a "neutral" rating and a $60.00 price target on the stock. Four equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $47.50.

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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