Jennison Associates LLC Has $20.88 Million Stock Holdings in Allient Inc. $ALNT

Jennison Associates LLC lifted its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 111.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 353,430 shares of the company’s stock after acquiring an additional 186,316 shares during the period. Jennison Associates LLC owned approximately 2.08% of Allient worth $20,884,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Arax Advisory Partners raised its position in Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock worth $27,000 after purchasing an additional 263 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Allient in the 3rd quarter valued at approximately $34,000. Larson Financial Group LLC grew its stake in shares of Allient by 149.1% in the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Allient by 22.0% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after buying an additional 209 shares in the last quarter. Finally, State of Wyoming acquired a new position in shares of Allient in the 4th quarter worth approximately $67,000. 61.57% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on ALNT. Weiss Ratings lowered Allient from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday. Jefferies Financial Group set a $80.00 price objective on Allient in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 price objective on Allient in a report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their target price on shares of Allient from $80.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Finally, Wall Street Zen lowered shares of Allient from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.83.

Allient Stock Performance

Shares of NASDAQ:ALNT opened at $86.61 on Tuesday. The company has a current ratio of 3.73, a quick ratio of 2.15 and a debt-to-equity ratio of 0.58. Allient Inc. has a 1-year low of $36.85 and a 1-year high of $104.65. The stock has a market capitalization of $1.47 billion, a P/E ratio of 60.57 and a beta of 1.59. The business has a 50-day moving average price of $84.12 and a two-hundred day moving average price of $71.59.

Allient (NASDAQ:ALNT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The company had revenue of $138.91 million during the quarter, compared to analyst estimates of $138.42 million. Allient had a net margin of 4.25% and a return on equity of 12.47%. Equities analysts predict that Allient Inc. will post 2.47 earnings per share for the current year.

Allient Increases Dividend

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

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.