Zweig DiMenna Associates LLC Acquires New Shares in Allient Inc. $ALNT

Key Points

• Zweig DiMenna Associates LLC initiated a new position in Allient, buying 47,000 shares valued at about $2.78 million in the first quarter, bringing its ownership to roughly 0.28% of the company.
• Allient shares were up 1.7% and recently traded at $88.78, while the company’s latest earnings missed EPS estimates at $0.50 versus $0.55 expected, though revenue came in roughly in line.
• The company raised its quarterly dividend to $0.04 from $0.03, and analysts currently rate the stock a “Moderate Buy” with an average price target of $79.83.

Zweig DiMenna Associates LLC bought a new stake in Allient Inc. (NASDAQ:ALNT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 47,000 shares of the company's stock, valued at approximately $2,777,000. Zweig DiMenna Associates LLC owned approximately 0.28% of Allient at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ALNT. Arax Advisory Partners raised its stake in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company's stock worth $27,000 after purchasing an additional 263 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company's stock valued at $37,000 after buying an additional 413 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Allient in the 3rd quarter valued at approximately $34,000. Cullen Frost Bankers Inc. increased its holdings in Allient by 22.0% in the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company's stock worth $62,000 after buying an additional 209 shares during the last quarter. Finally, State of Wyoming acquired a new position in Allient in the fourth quarter worth approximately $67,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Allient Stock Up 1.7%

Shares of ALNT stock opened at $88.78 on Wednesday. The stock's 50 day simple moving average is $82.63 and its 200 day simple moving average is $70.68. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. Allient Inc. has a twelve month low of $36.85 and a twelve month high of $104.65. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 62.08 and a beta of 1.59.

Allient (NASDAQ:ALNT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.05). Allient had a return on equity of 12.47% and a net margin of 4.25%.The company had revenue of $138.91 million during the quarter, compared to analyst estimates of $138.42 million. As a group, research analysts predict that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This is a positive change from Allient's previous quarterly dividend of $0.03. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.2%. Allient's dividend payout ratio is presently 11.19%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALNT. Jefferies Financial Group set a $80.00 price objective on shares of Allient in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Allient from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 1st. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of Allient from a "buy" rating to a "hold" rating in a report on Saturday, July 4th. Finally, Roth Capital reaffirmed a "buy" rating and issued a $70.00 price objective on shares of Allient in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Allient presently has an average rating of "Moderate Buy" and an average target price of $79.83.

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.

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