Royal Bank of Canada Lowers Position in Allient Inc. $ALNT

Royal Bank of Canada decreased its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 34.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 10,488 shares of the company’s stock after selling 5,455 shares during the period. Royal Bank of Canada’s holdings in Allient were worth $620,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALNT. Jennison Associates LLC boosted its stake in shares of Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock valued at $20,884,000 after purchasing an additional 186,316 shares in the last quarter. Telemark Asset Management LLC bought a new position in Allient in the fourth quarter worth approximately $8,062,000. Marshall Wace LLP lifted its holdings in Allient by 1,291.3% during the third quarter. Marshall Wace LLP now owns 153,819 shares of the company’s stock worth $6,883,000 after buying an additional 142,763 shares during the period. Handelsbanken Fonder AB lifted its holdings in Allient by 95.6% during the fourth quarter. Handelsbanken Fonder AB now owns 257,323 shares of the company’s stock worth $13,831,000 after buying an additional 125,753 shares during the period. Finally, State Street Corp boosted its position in Allient by 32.5% during the 4th quarter. State Street Corp now owns 392,261 shares of the company’s stock valued at $21,084,000 after acquiring an additional 96,264 shares in the last quarter. Institutional investors own 61.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALNT shares. Macquarie Infrastructure set a $80.00 price target on Allient in a report on Tuesday, May 26th. Wall Street Zen upgraded Allient from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Weiss Ratings raised shares of Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Finally, Jefferies Financial Group set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $84.00.

Insider Buying and Selling

In other news, CEO Richard S. Warzala sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were 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 of the company’s stock, valued at $170,268,459.48. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.00% of the company’s stock.

Allient Stock Down 2.9%

NASDAQ:ALNT opened at $93.08 on Tuesday. The firm has a market capitalization of $1.58 billion, a P/E ratio of 54.75 and a beta of 1.61. The company’s fifty day moving average price is $95.31 and its 200-day moving average price is $78.27. Allient Inc. has a 1-year low of $41.75 and a 1-year high of $118.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.42 and a quick ratio of 1.95.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.19. The company had revenue of $153.77 million for the quarter, compared to the consensus estimate of $145.68 million. Allient had a return on equity of 13.55% and a net margin of 4.98%. As a group, equities research analysts anticipate that Allient Inc. will post 2.72 EPS for the current year.

Allient Announces Dividend

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 given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.2%. The ex-dividend date is Wednesday, August 19th. Allient’s dividend payout ratio (DPR) is currently 9.41%.

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.