Hsbc Holdings PLC Acquires Shares of 16,742 Allient Inc. $ALNT

Hsbc Holdings PLC purchased a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,742 shares of the company’s stock, valued at approximately $1,694,000. Hsbc Holdings PLC owned about 0.10% of Allient at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Meeder Asset Management Inc. bought a new stake in shares of Allient during the second quarter worth approximately $25,000. Arax Advisory Partners boosted its stake in 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 during the last quarter. Advisory Services Network LLC acquired a new stake in Allient during the 3rd quarter worth $34,000. Larson Financial Group LLC raised its position in shares of Allient by 149.1% during the 4th quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after acquiring an additional 413 shares during the last quarter. Finally, Kilter Group LLC bought a new stake in shares of Allient during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Allient Stock Performance

Shares of Allient stock opened at $92.86 on Monday. Allient Inc. has a 12-month low of $41.75 and a 12-month high of $118.67. The stock has a market cap of $1.58 billion, a P/E ratio of 54.62 and a beta of 1.61. The company has a quick ratio of 1.95, a current ratio of 3.42 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $95.18 and its 200-day moving average is $79.09.

Allient (NASDAQ:ALNT) last issued 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. Allient had a net margin of 4.98% and a return on equity of 13.55%. The business had revenue of $153.77 million during the quarter, compared to the consensus estimate of $145.68 million. Equities research analysts predict that Allient Inc. will post 2.73 earnings per share for the current fiscal year.

Allient Dividend Announcement

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

Analyst Ratings Changes

ALNT has been the subject of a number of recent analyst reports. Macquarie Infrastructure set a $80.00 price target on Allient in a research note on Tuesday, May 26th. Zacks Research raised shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. JPMorgan Chase & Co. boosted their price objective on shares of Allient from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Roth Capital reiterated a “buy” rating and issued a $70.00 target price on shares of Allient in a report on Friday, May 8th. Finally, Jefferies Financial Group set a $80.00 target price on shares of Allient in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $84.00.

Insider Activity

In other news, CEO Richard S. Warzala sold 70,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer directly owned 1,499,106 shares in the company, valued at approximately $170,268,459.48. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.00% of the company’s stock.

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.