Squarepoint Ops LLC Has $3.46 Million Holdings in Allient Inc. $ALNT

Key Points

• Squarepoint Ops LLC cut its Allient stake by 40.8% in the second quarter, selling 23,209 shares and retaining 33,640 shares worth approximately $3.46 million. Institutional investors collectively own 61.57% of Allient.
• Allient reported quarterly EPS of $0.80, exceeding estimates of $0.61, while revenue of $153.77 million also topped forecasts. The company paid a quarterly dividend of $0.04 per share.
• Analyst sentiment remains positive, with recent rating upgrades to “strong buy” or “buy”; however, the consensus price target of $84 is below the stock’s reported trading price of $98.66.

Squarepoint Ops LLC lessened its position in shares of Allient Inc. (NASDAQ:ALNT - Free Report) by 40.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,640 shares of the company's stock after selling 23,209 shares during the period. Squarepoint Ops LLC owned approximately 0.20% of Allient worth $3,463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tulsa Wealth Advisors INC bought a new stake in Allient in the 4th quarter valued at $659,000. Sei Investments Co. grew its holdings in Allient by 87.9% in the 1st quarter. Sei Investments Co. now owns 55,424 shares of the company's stock valued at $3,275,000 after buying an additional 25,935 shares in the last quarter. BlackRock Inc. acquired a new position in Allient in the 2nd quarter valued at $128,774,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in Allient during the 2nd quarter worth $3,992,000. Finally, Jennison Associates LLC increased its position in Allient by 111.5% during the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company's stock worth $20,884,000 after buying an additional 186,316 shares during the period. Institutional investors and hedge funds own 61.57% of the company's stock.

Insider Transactions at Allient

In other Allient news, CEO Richard Warzala sold 70,000 shares of the business's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at $170,268,459.48. The trade was a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.00% of the stock is owned by company insiders.

Allient Trading Up 4.8%

ALNT opened at $98.66 on Friday. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 58.04 and a beta of 1.62. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. Allient Inc. has a twelve month low of $41.75 and a twelve month high of $118.67. The company has a 50-day simple moving average of $94.48 and a 200 day simple moving average of $80.87.

Allient (NASDAQ:ALNT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.80 EPS for the quarter, beating the consensus estimate of $0.61 by $0.19. The firm had revenue of $153.77 million for the quarter, compared to analyst estimates of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.55%. Analysts predict that Allient Inc. will post 2.73 EPS for the current fiscal year.

Allient Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, August 19th. Allient's dividend payout ratio (DPR) is 9.41%.

Wall Street Analysts Forecast Growth

ALNT has been the subject of a number of recent research reports. Zacks Research raised shares of Allient from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 10th. Wall Street Zen raised shares of Allient from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 8th. Weiss Ratings raised shares of Allient from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Macquarie Infrastructure set a $80.00 price objective on shares of Allient in a research note on Tuesday, May 26th. Finally, Jefferies Financial Group set a $80.00 price objective on shares of Allient in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, Allient has an average rating of "Buy" and a consensus target price of $84.00.

About Allient

Allient Inc NASDAQ: ALNT is a global designer and manufacturer of precision motion-control and power technologies. The company develops integrated solutions that help equipment and systems generate, control, and transmit motion, including motors, motor controls, drives, encoders, gearboxes, actuators, and related electromechanical assemblies.

Its products are used in markets such as medical equipment, aerospace and defense, industrial automation, robotics, factory automation, and other specialized industrial applications.

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