Kingsview Wealth Management LLC Buys New Position in Allient Inc. $ALNT

Kingsview Wealth Management LLC bought a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,414 shares of the company’s stock, valued at approximately $660,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new stake in Allient in the second quarter worth approximately $25,000. Kilter Group LLC acquired a new position in shares of Allient during the 2nd quarter valued at $37,000. Arax Advisory Partners increased its position in shares of Allient by 113.9% during the 4th quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares during the period. Larson Financial Group LLC raised 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 worth $37,000 after buying an additional 413 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Allient in the 3rd quarter worth $34,000. 61.57% of the stock is currently owned by institutional investors.

Insider Transactions at Allient

In other Allient news, CEO Richard S. Warzala sold 70,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $113.58, for a total transaction of $7,950,600.00. Following the sale, the chief executive officer owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. The trade was a 4.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.00% of the company’s stock.

Allient Stock Performance

ALNT opened at $92.86 on Monday. The firm has a market cap of $1.58 billion, a PE ratio of 54.62 and a beta of 1.61. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The business has a fifty day simple moving average of $95.18 and a 200-day simple moving average of $79.09. Allient Inc. has a fifty-two week low of $41.75 and a fifty-two week high of $118.67.

Allient (NASDAQ:ALNT) last announced its earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.19. Allient had a return on equity of 13.55% and a net margin of 4.98%.The company had revenue of $153.77 million for the quarter, compared to analyst estimates of $145.68 million. As a group, equities analysts predict that Allient Inc. will post 2.73 EPS for the current fiscal year.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.16 dividend on an annualized basis and a yield of 0.2%. Allient’s dividend payout ratio (DPR) is currently 9.41%.

Analyst Upgrades and Downgrades

ALNT has been the subject of several research reports. Jefferies Financial Group set a $80.00 target price on Allient in a research note on Tuesday, May 26th. Macquarie Infrastructure set a $80.00 price target on shares of Allient in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on shares of Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Wall Street Zen raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Allient in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $84.00.

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.