Raymond James Financial Inc. Buys Shares of 33,162 Allient Inc. (NASDAQ:ALNT)

Raymond James Financial Inc. acquired a new stake in Allient Inc. (NASDAQ:ALNT - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,162 shares of the company's stock, valued at approximately $805,000. Raymond James Financial Inc. owned approximately 0.20% of Allient as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in shares of Allient by 23,963.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company's stock worth $9,948,000 after buying an additional 404,505 shares during the period. Geode Capital Management LLC boosted its stake in shares of Allient by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 345,726 shares of the company's stock valued at $8,396,000 after purchasing an additional 1,560 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Allient in the fourth quarter valued at about $7,268,000. Bank of New York Mellon Corp boosted its stake in Allient by 18.2% during the 4th quarter. Bank of New York Mellon Corp now owns 115,095 shares of the company's stock valued at $2,794,000 after acquiring an additional 17,739 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in Allient in the fourth quarter valued at about $2,281,000. 61.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on ALNT. Northland Securities downgraded Allient from an "outperform" rating to a "market perform" rating in a research note on Monday. Northland Capmk cut Allient from a "strong-buy" rating to a "hold" rating in a report on Monday.

Allient Price Performance

Shares of ALNT opened at $21.85 on Wednesday. Allient Inc. has a one year low of $16.91 and a one year high of $32.00. The stock's fifty day moving average is $22.24 and its 200-day moving average is $23.53. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10. The firm has a market capitalization of $370.31 million, a price-to-earnings ratio of 24.83 and a beta of 1.39.

Allient (NASDAQ:ALNT - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $122.01 million for the quarter, compared to analysts' expectations of $119.72 million. Allient had a net margin of 2.64% and a return on equity of 10.80%. Equities analysts anticipate that Allient Inc. will post 1.43 EPS for the current year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $0.12 annualized dividend and a dividend yield of 0.55%. Allient's dividend payout ratio (DPR) is 15.00%.

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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