Navellier & Associates Inc. Purchases 11,027 Shares of Allient Inc. $ALNT

Navellier & Associates Inc. lifted its position in shares of Allient Inc. (NASDAQ:ALNT) by 158.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,975 shares of the company’s stock after purchasing an additional 11,027 shares during the quarter. Navellier & Associates Inc. owned 0.11% of Allient worth $1,850,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ALNT. BlackRock Inc. bought a new stake in Allient during the 2nd quarter valued at $128,774,000. Vanguard Group Inc. grew its holdings in shares of Allient by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 1,011,253 shares of the company’s stock valued at $54,355,000 after buying an additional 26,438 shares during the last quarter. State Street Corp increased its position in shares of Allient by 32.5% during the fourth quarter. State Street Corp now owns 392,261 shares of the company’s stock worth $21,084,000 after acquiring an additional 96,264 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Allient by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 368,486 shares of the company’s stock worth $19,808,000 after acquiring an additional 10,173 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Allient by 111.5% in the 1st quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after acquiring an additional 186,316 shares during the last quarter. 61.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALNT has been the subject of a number of recent research reports. Macquarie Infrastructure set a $80.00 price objective on Allient in a report on Tuesday, May 26th. Weiss Ratings raised Allient from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Roth Capital reiterated a “buy” rating and set a $70.00 price target on shares of Allient in a report on Friday, May 8th. Zacks Research upgraded Allient from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, Wall Street Zen raised Allient from a “hold” rating to a “strong-buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $84.00.

Allient Trading Down 3.0%

NASDAQ:ALNT opened at $92.86 on Friday. Allient Inc. has a 52 week low of $41.75 and a 52 week high of $118.67. The firm has a 50-day moving average price of $95.18 and a two-hundred day moving average price of $79.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.95 and a current ratio of 3.42. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 54.62 and a beta of 1.61.

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

Allient Dividend Announcement

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

Insider Activity

In other news, CEO Richard S. Warzala sold 70,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer directly 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 SEC, which is available through the SEC website. 15.00% of the stock is currently owned by corporate insiders.

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.