Sierra Summit Advisors LLC Buys New Shares in Allient Inc. $ALNT

Sierra Summit Advisors LLC bought a new position in Allient Inc. (NASDAQ:ALNT) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 14,914 shares of the company’s stock, valued at approximately $881,000. Sierra Summit Advisors LLC owned 0.09% of Allient as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Allient by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after buying an additional 26,438 shares during the period. State Street Corp grew its stake in shares of Allient by 32.5% during the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after buying an additional 96,264 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Allient by 2.8% in the fourth 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 period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Allient by 20.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 290,696 shares of the company’s stock worth $13,009,000 after buying an additional 49,384 shares during the period. Finally, Portolan Capital Management LLC bought a new stake in shares of Allient in the 3rd quarter valued at about $11,530,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

Allient stock opened at $86.89 on Friday. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $80.85 and a 200-day moving average of $68.96. The firm has a market cap of $1.48 billion, a P/E ratio of 60.76 and a beta of 1.59. Allient Inc. has a 1-year low of $36.85 and a 1-year high of $104.65.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) 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 business had revenue of $138.91 million during the quarter, compared to the consensus estimate of $138.42 million. Sell-side analysts expect that Allient Inc. will post 2.47 EPS for the current year.

Allient Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALNT shares. Craig Hallum restated a “buy” rating and set a $75.00 target price on shares of Allient in a report on Monday, March 9th. Jefferies Financial Group set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Weiss Ratings upgraded Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen lowered Allient from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Roth Mkm restated a “buy” rating and issued a $70.00 target price on shares of Allient in a report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $77.33.

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.