Handelsbanken Fonder AB Invests $5.89 Million in Allient Inc. $ALNT

Handelsbanken Fonder AB bought a new position in Allient Inc. (NASDAQ:ALNT) during the third quarter, Holdings Channel reports. The firm bought 131,570 shares of the company’s stock, valued at approximately $5,888,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. bought a new stake in Allient in the 3rd quarter worth approximately $6,656,000. Vanguard Group Inc. boosted its position in shares of Allient by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 984,815 shares of the company’s stock valued at $44,070,000 after acquiring an additional 66,552 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Allient by 198.5% in the second quarter. Jane Street Group LLC now owns 54,856 shares of the company’s stock valued at $1,992,000 after purchasing an additional 36,477 shares in the last quarter. Nkcfo LLC increased its position in Allient by 700.0% in the second quarter. Nkcfo LLC now owns 32,000 shares of the company’s stock worth $1,162,000 after purchasing an additional 28,000 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Allient by 19.8% in the first quarter. Royal Bank of Canada now owns 111,570 shares of the company’s stock worth $2,453,000 after purchasing an additional 18,416 shares during the last quarter. 61.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALNT. Zacks Research lowered shares of Allient from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings restated a “hold (c)” rating on shares of Allient in a research report on Wednesday, January 21st. Lake Street Capital assumed coverage on Allient in a research report on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price target for the company. Finally, Roth Mkm boosted their price objective on Allient from $49.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $57.50.

Allient Trading Down 0.9%

Shares of ALNT opened at $65.25 on Tuesday. The company’s fifty day simple moving average is $61.86 and its 200-day simple moving average is $53.96. The company has a market cap of $1.11 billion, a P/E ratio of 58.26 and a beta of 1.51. The company has a current ratio of 3.53, a quick ratio of 2.01 and a debt-to-equity ratio of 0.65. Allient Inc. has a twelve month low of $19.25 and a twelve month high of $70.00.

Allient 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.