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

Jennison Associates LLC grew its stake in Allient Inc. (NASDAQ:ALNT) by 111.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,430 shares of the company’s stock after acquiring an additional 186,316 shares during the period. Jennison Associates LLC’s holdings in Allient were worth $20,884,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ALNT. Arax Advisory Partners grew its stake in Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Allient during the 3rd quarter worth approximately $34,000. Larson Financial Group LLC raised its stake in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. boosted 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 valued at $62,000 after buying an additional 209 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of Allient in the 4th quarter valued at approximately $67,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Price Performance

NASDAQ:ALNT opened at $86.61 on Tuesday. Allient Inc. has a 52 week low of $36.85 and a 52 week high of $104.65. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 60.57 and a beta of 1.59. The firm’s 50-day simple moving average is $84.12 and its 200 day simple moving average is $71.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.15 and a current ratio of 3.73.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data 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). Allient had a net margin of 4.25% and a return on equity of 12.47%. The business had revenue of $138.91 million during the quarter, compared to the consensus estimate of $138.42 million. As a group, sell-side analysts predict that Allient Inc. will post 2.47 earnings per share for the current year.

Allient Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Roth Capital reissued a “buy” rating and issued a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Jefferies Financial Group set a $80.00 target price on shares of Allient in a report on Tuesday, May 26th. Wall Street Zen downgraded shares of Allient from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings cut Allient from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. Finally, Macquarie Infrastructure set a $80.00 price target on Allient in a research report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.83.

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.