Lazard Asset Management LLC Sells 20,960 Shares of Allient Inc. $ALNT

Lazard Asset Management LLC cut its stake in Allient Inc. (NASDAQ:ALNT) by 69.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,352 shares of the company’s stock after selling 20,960 shares during the quarter. Lazard Asset Management LLC owned about 0.06% of Allient worth $553,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ALNT. Vanguard Group Inc. increased its position in shares of Allient by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock worth $54,355,000 after purchasing an additional 26,438 shares in the last quarter. State Street Corp boosted its position in shares of Allient by 32.5% in the 4th quarter. State Street Corp now owns 392,261 shares of the company’s stock worth $21,084,000 after purchasing an additional 96,264 shares in the last quarter. Geode Capital Management LLC grew its stake in Allient by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock worth $19,808,000 after buying an additional 10,173 shares during the last quarter. Jennison Associates LLC grew its stake 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 last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in Allient by 20.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock valued at $13,009,000 after buying an additional 49,384 shares in the last quarter. 61.57% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALNT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Allient from $80.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Roth Capital reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Weiss Ratings upgraded shares of Allient from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday. Macquarie Infrastructure set a $80.00 target price on shares of Allient in a research report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Allient has a consensus rating of “Moderate Buy” and a consensus target price of $79.83.

Allient Stock Performance

Shares of NASDAQ ALNT opened at $111.21 on Friday. The company has a market capitalization of $1.89 billion, a PE ratio of 65.42 and a beta of 1.61. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73. The company’s fifty day moving average price is $90.50 and its 200 day moving average price is $74.46. Allient Inc. has a 1 year low of $39.37 and a 1 year high of $113.48.

Allient (NASDAQ:ALNT) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.19. The company had revenue of $153.77 million during the quarter, compared to analysts’ expectations of $145.68 million. Allient had a net margin of 4.98% and a return on equity of 13.69%. On average, research analysts predict that Allient Inc. will post 2.47 earnings per share for the current year.

Allient Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, August 19th. Allient’s payout ratio is currently 9.41%.

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.