Wells Fargo & Company MN Sells 177,553 Shares of Allient Inc. (NASDAQ:ALNT)

Wells Fargo & Company MN decreased its stake in Allient Inc. (NASDAQ:ALNT - Free Report) by 94.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,546 shares of the company's stock after selling 177,553 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Allient worth $232,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALNT. Allspring Global Investments Holdings LLC lifted its holdings in shares of Allient by 23,963.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company's stock worth $9,948,000 after acquiring an additional 404,505 shares during the period. Barclays PLC boosted its stake in Allient by 61.2% in the 3rd quarter. Barclays PLC now owns 45,362 shares of the company's stock valued at $862,000 after buying an additional 17,216 shares in the last quarter. Franklin Resources Inc. grew its position in Allient by 74.7% in the third quarter. Franklin Resources Inc. now owns 28,034 shares of the company's stock valued at $516,000 after acquiring an additional 11,986 shares during the period. JPMorgan Chase & Co. raised its stake in Allient by 71.6% during the third quarter. JPMorgan Chase & Co. now owns 89,004 shares of the company's stock worth $1,690,000 after acquiring an additional 37,151 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Allient by 0.5% in the 4th 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 in the last quarter. Institutional investors own 61.57% of the company's stock.

Allient Stock Performance

NASDAQ:ALNT traded up $2.12 during mid-day trading on Friday, hitting $28.98. The stock had a trading volume of 244,343 shares, compared to its average volume of 115,336. The stock has a market cap of $490.60 million, a price-to-earnings ratio of 32.93 and a beta of 1.39. The company's 50 day simple moving average is $22.36 and its 200 day simple moving average is $23.71. Allient Inc. has a twelve month low of $16.91 and a twelve month high of $29.82. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10.

Allient (NASDAQ:ALNT - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $134.62 million for the quarter, compared to analyst estimates of $125.00 million. Allient had a return on equity of 10.80% and a net margin of 2.64%. On average, equities research analysts forecast that Allient Inc. will post 1.43 earnings per share for the current year.

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Thursday, May 22nd. Allient's dividend payout ratio (DPR) is 20.34%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Northland Capmk cut shares of Allient from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 5th. Northland Securities set a $35.00 price target on shares of Allient in a research report on Monday, May 5th.

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.