Bank of New York Mellon Corp Boosts Stock Position in Allient Inc. (NASDAQ:ALNT)

Bank of New York Mellon Corp increased its stake in Allient Inc. (NASDAQ:ALNT) by 18.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,095 shares of the company’s stock after acquiring an additional 17,739 shares during the period. Bank of New York Mellon Corp’s holdings in Allient were worth $2,794,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in Allient by 843.2% during the 3rd quarter. FMR LLC now owns 1,153,537 shares of the company’s stock valued at $21,906,000 after purchasing an additional 1,031,243 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Allient by 23,963.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock worth $9,948,000 after buying an additional 404,505 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Allient by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 344,166 shares of the company’s stock worth $6,537,000 after purchasing an additional 5,975 shares in the last quarter. State Street Corp lifted its position in shares of Allient by 0.8% during the 3rd quarter. State Street Corp now owns 306,239 shares of the company’s stock valued at $5,815,000 after buying an additional 2,453 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Allient by 71.6% in the third quarter. JPMorgan Chase & Co. now owns 89,004 shares of the company’s stock worth $1,690,000 after purchasing an additional 37,151 shares in the last quarter. 61.57% of the stock is currently owned by institutional investors.

Allient Trading Down 1.6 %

NASDAQ ALNT opened at $23.87 on Friday. The company has a market capitalization of $402.09 million, a price-to-earnings ratio of 27.13 and a beta of 1.59. Allient Inc. has a one year low of $16.91 and a one year high of $36.33. The company has a debt-to-equity ratio of 0.85, a quick ratio of 2.18 and a current ratio of 4.10. The company’s 50-day simple moving average is $25.03 and its two-hundred day simple moving average is $22.96.

Allient (NASDAQ:ALNT) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $122.01 million during the quarter, compared to analyst estimates of $119.72 million. Allient had a return on equity of 10.80% and a net margin of 2.64%. Equities analysts forecast that Allient Inc. will post 1.43 EPS for the current fiscal year.

Allient Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 20th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.50%. Allient’s payout ratio is currently 15.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALNT. Northland Securities upgraded shares of Allient from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $30.00 to $35.00 in a research report on Tuesday, February 11th. Northland Capmk raised Allient from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 11th.

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.