Howe & Rusling Inc. Sells 16,000 Shares of Allient Inc. $ALNT

Howe & Rusling Inc. decreased its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 27.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,631 shares of the company’s stock after selling 16,000 shares during the quarter. Howe & Rusling Inc. owned 0.25% of Allient worth $2,238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Allient by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after purchasing an additional 26,438 shares during the period. State Street Corp boosted its holdings in shares of Allient by 32.5% in the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after purchasing an additional 96,264 shares during the period. Geode Capital Management LLC boosted 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 valued at $19,808,000 after purchasing an additional 10,173 shares during the period. Arrowstreet Capital Limited Partnership boosted 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 valued at $13,009,000 after purchasing an additional 49,384 shares during the period. Finally, Portolan Capital Management LLC purchased a new stake in shares of Allient in the third quarter valued at approximately $11,530,000. Institutional investors own 61.57% of the company’s stock.

Analyst Upgrades and Downgrades

ALNT has been the subject of a number of research reports. Craig Hallum reiterated a “buy” rating and issued a $75.00 price target on shares of Allient in a report on Monday, March 9th. JPMorgan Chase & Co. upgraded Allient from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $65.00 to $80.00 in a report on Tuesday, May 26th. Jefferies Financial Group set a $80.00 price target on Allient in a report on Tuesday, May 26th. Lake Street Capital initiated coverage on Allient in a report on Wednesday, February 18th. They issued a “buy” rating and a $79.00 price target for the company. Finally, Macquarie Infrastructure set a $80.00 price target on Allient in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.33.

Allient Stock Performance

Shares of ALNT stock opened at $95.73 on Wednesday. The business’s fifty day simple moving average is $73.76 and its 200-day simple moving average is $65.25. The company has a market cap of $1.63 billion, a PE ratio of 66.94 and a beta of 1.63. 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 12-month low of $33.14 and a 12-month high of $97.97.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The business had revenue of $138.92 million for the quarter, compared to analyst estimates of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. Analysts expect that Allient Inc. will post 2.47 earnings per share for the current fiscal year.

Allient Increases Dividend

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