Pinnacle Associates Ltd. Acquires 89,463 Shares of Allient Inc. (NASDAQ:ALNT)

Pinnacle Associates Ltd. lifted its holdings in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 37.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 327,132 shares of the company's stock after purchasing an additional 89,463 shares during the period. Pinnacle Associates Ltd. owned 1.93% of Allient worth $7,190,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ALNT. Hurley Capital LLC acquired a new position in shares of Allient during the fourth quarter valued at $38,000. Public Employees Retirement System of Ohio acquired a new position in shares of Allient during the fourth quarter valued at $41,000. CWM LLC lifted its stake in shares of Allient by 105.2% during the first quarter. CWM LLC now owns 1,890 shares of the company's stock valued at $42,000 after acquiring an additional 969 shares during the period. GAMMA Investing LLC acquired a new position in shares of Allient during the first quarter valued at $60,000. Finally, Aquatic Capital Management LLC lifted its stake in shares of Allient by 17.1% during the fourth quarter. Aquatic Capital Management LLC now owns 7,847 shares of the company's stock valued at $191,000 after acquiring an additional 1,147 shares during the period. Institutional investors own 61.57% of the company's stock.

Analysts Set New Price Targets

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

Allient Trading Up 1.2%

NASDAQ:ALNT traded up $0.46 during mid-day trading on Friday, hitting $39.74. The company had a trading volume of 79,432 shares, compared to its average volume of 160,038. Allient Inc. has a fifty-two week low of $16.91 and a fifty-two week high of $40.39. The business's fifty day moving average is $35.07 and its two-hundred day moving average is $27.87. The company has a debt-to-equity ratio of 0.81, a quick ratio of 2.35 and a current ratio of 4.03. The firm has a market cap of $672.80 million, a P/E ratio of 67.36 and a beta of 1.51.

Allient (NASDAQ:ALNT - Get Free Report) last released 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. Allient had a return on equity of 8.45% and a net margin of 1.90%. The firm had revenue of $134.62 million for the quarter, compared to analyst estimates of $125.00 million. As a group, research analysts expect that Allient Inc. will post 1.43 earnings per share for the current year.

Allient Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were issued a $0.03 dividend. The ex-dividend date of this dividend was Thursday, May 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.30%. Allient's dividend payout ratio (DPR) is currently 20.34%.

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.