Allient Inc. $ALNT Position Cut by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC reduced its holdings in Allient Inc. (NASDAQ:ALNT) by 67.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,588 shares of the company’s stock after selling 5,269 shares during the quarter. Pinnacle Wealth Management Advisory Group LLC’s holdings in Allient were worth $266,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in shares of Allient in the second quarter worth $25,000. Arax Advisory Partners increased its holdings in shares of Allient by 113.9% during the fourth quarter. Arax Advisory Partners now owns 494 shares of the company’s stock valued at $27,000 after purchasing an additional 263 shares during the period. Advisory Services Network LLC bought a new stake in shares of Allient during the third quarter valued at about $34,000. Larson Financial Group LLC raised its stake in shares of Allient by 149.1% during the fourth quarter. Larson Financial Group LLC now owns 690 shares of the company’s stock valued at $37,000 after purchasing an additional 413 shares in the last quarter. Finally, Kilter Group LLC acquired a new stake in Allient in the second quarter worth about $37,000. Institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

ALNT opened at $98.66 on Friday. 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 firm has a market cap of $1.68 billion, a PE ratio of 58.04 and a beta of 1.62. The business has a fifty day simple moving average of $94.48 and a 200-day simple moving average of $80.87. Allient Inc. has a fifty-two week low of $41.75 and a fifty-two week high of $118.67.

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

Allient Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on the stock. Jefferies Financial Group set a $80.00 target price on shares of Allient in a research note on Tuesday, May 26th. JPMorgan Chase & Co. upped their price target on shares of Allient from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 8th. Zacks Research upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Macquarie Infrastructure set a $80.00 target price on Allient in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $84.00.

Insider Buying and Selling

In other Allient news, CEO Richard Warzala sold 70,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $113.58, for a total value 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 $170,268,459.48. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 15.00% of the company’s stock.

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.