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

Sierra Summit Advisors LLC acquired a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 14,914 shares of the company’s stock, valued at approximately $881,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Tudor Investment Corp ET AL bought a new stake in shares of Allient during the 3rd quarter valued at about $3,196,000. Jennison Associates LLC purchased a new position in shares of Allient during the fourth quarter valued at about $8,982,000. Teton Advisors LLC bought a new position in Allient in the third quarter worth about $3,007,000. Portolan Capital Management LLC bought a new position in Allient in the third quarter worth about $11,530,000. Finally, Ellsworth Advisors LLC purchased a new stake in Allient in the fourth quarter worth about $841,000. 61.57% of the stock is currently owned by institutional investors.

Allient Stock Performance

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

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.05). The business had revenue of $138.91 million for the quarter, compared to the consensus estimate of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. As a group, sell-side analysts expect that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, May 21st. This is a positive change from Allient’s previous quarterly dividend of $0.03. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. Allient’s dividend payout ratio (DPR) is 11.19%.

Analyst Ratings Changes

Several research firms have weighed in on ALNT. Weiss Ratings raised Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. JPMorgan Chase & Co. raised Allient from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $65.00 to $80.00 in a research report on Tuesday, May 26th. Wall Street Zen cut Allient from a “buy” rating to a “hold” rating in a research note on Saturday. Roth Mkm restated a “buy” rating and set a $70.00 price target on shares of Allient in a research report on Friday, May 8th. Finally, Jefferies Financial Group set a $80.00 price target on Allient in a research report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $77.33.

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.