Kornitzer Capital Management Inc. KS Acquires New Stake in Allient Inc. $ALNT

Kornitzer Capital Management Inc. KS acquired a new stake in Allient Inc. (NASDAQ:ALNT) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 9,380 shares of the company’s stock, valued at approximately $554,000. Kornitzer Capital Management Inc. KS owned 0.06% of Allient as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the company. Arax Advisory Partners boosted its holdings in shares of Allient by 113.9% in the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after acquiring an additional 263 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Allient during the third quarter worth about $34,000. Larson Financial Group LLC raised its holdings in Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock worth $37,000 after purchasing an additional 413 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in Allient by 22.0% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,160 shares of the company’s stock worth $62,000 after purchasing an additional 209 shares in the last quarter. Finally, State of Wyoming acquired a new stake in Allient in the fourth quarter valued at about $67,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

NASDAQ ALNT opened at $87.27 on Tuesday. Allient Inc. has a 1-year low of $36.85 and a 1-year high of $104.65. The company has a market capitalization of $1.48 billion, a P/E ratio of 61.03 and a beta of 1.59. The business has a 50 day moving average price of $82.41 and a 200 day moving average price of $70.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.73 and a quick ratio of 2.15.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, May 6th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.05). The firm had revenue of $138.91 million for the quarter, compared to analysts’ expectations of $138.42 million. Allient had a return on equity of 12.47% and a net margin of 4.25%. Sell-side analysts expect that Allient Inc. will post 2.47 EPS for the current fiscal year.

Allient Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a $0.04 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.16 annualized dividend and a dividend yield of 0.2%. This is a boost from Allient’s previous quarterly dividend of $0.03. Allient’s payout ratio is presently 11.19%.

Analyst Ratings Changes

Several research firms have issued reports on ALNT. Weiss Ratings upgraded Allient from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. raised their price target on Allient from $80.00 to $95.00 and gave the company an “overweight” rating in a report on Monday. Macquarie Infrastructure set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Jefferies Financial Group set a $80.00 price objective on Allient in a report on Tuesday, May 26th. Finally, Roth Capital reiterated a “buy” rating and issued a $70.00 price objective on shares of Allient in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.83.

Allient Company 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.