Allient Inc. $ALNT Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its position in Allient Inc. (NASDAQ:ALNT) by 13.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 96,375 shares of the company’s stock after selling 15,594 shares during the period. Pinnacle Associates Ltd.’s holdings in Allient were worth $10,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Allient in the second quarter valued at approximately $128,774,000. Jennison Associates LLC boosted its position in shares of Allient by 111.5% during the first quarter. Jennison Associates LLC now owns 353,430 shares of the company’s stock worth $20,884,000 after buying an additional 186,316 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Allient during the second quarter worth approximately $9,051,000. Deutsche Bank AG acquired a new position in shares of Allient during the second quarter worth approximately $6,813,000. Finally, Diamond Hill Capital Management LLC Investment Advisor bought a new position in Allient in the 2nd quarter worth approximately $3,992,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Insider Buying and Selling

In other Allient news, CEO Richard Warzala sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $113.58, for a total value of $7,950,600.00. Following the completion of the sale, the chief executive officer directly owned 1,499,106 shares in the company, valued at $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 15.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

ALNT has been the subject of a number of recent analyst reports. Weiss Ratings raised Allient from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Wall Street Zen downgraded Allient from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 19th. JPMorgan Chase & Co. downgraded Allient from an “overweight” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research note on Tuesday, October 13th. Finally, Zacks Research lowered Allient from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Allient has an average rating of “Moderate Buy” and an average price target of $84.00.

Allient Stock Up 4.9%

ALNT stock opened at $97.46 on Thursday. Allient Inc. has a 52 week low of $44.30 and a 52 week high of $121.42. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 57.33 and a beta of 1.58. The firm’s 50-day moving average is $102.02 and its two-hundred day moving average is $89.34. The company has a current ratio of 3.42, a quick ratio of 1.95 and a debt-to-equity ratio of 0.56.

Allient (NASDAQ:ALNT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 4.98% and a return on equity of 13.55%. On average, analysts forecast that Allient Inc. will post 2.72 earnings per share for the current fiscal year.

Allient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Wednesday, August 19th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $0.16 annualized dividend and a yield of 0.2%. Allient’s payout ratio is presently 9.41%.

About Allient

Allient Inc (NASDAQ: ALNT) designs and manufactures precision and engineered products that control motion, power, and electromagnetic energy. Its portfolio includes motors, motion-control systems, electronic controls, power electronics, magnetic components, and related assemblies used in demanding industrial applications.

The company serves customers in markets such as medical equipment, aerospace and defense, industrial automation, robotics, transportation, and other specialized equipment industries.