Gabelli Funds LLC Invests $2.46 Million in Allient Inc. (NASDAQ:ALNT)

Gabelli Funds LLC bought a new position in shares of Allient Inc. (NASDAQ:ALNT) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 68,969 shares of the company’s stock, valued at approximately $2,461,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALNT. Shell Asset Management Co. bought a new stake in Allient in the 1st quarter worth about $35,000. New York State Teachers Retirement System bought a new stake in Allient in the 1st quarter worth about $41,000. Ameritas Investment Partners Inc. bought a new stake in Allient in the 1st quarter worth about $49,000. Allspring Global Investments Holdings LLC bought a new stake in Allient in the 1st quarter worth about $57,000. Finally, EntryPoint Capital LLC bought a new stake in Allient in the 1st quarter worth about $70,000. 61.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Roth Mkm reduced their price objective on shares of Allient from $42.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd.

Allient Stock Performance

Shares of ALNT stock traded up $0.87 during trading on Friday, reaching $28.82. 78,085 shares of the company’s stock traded hands, compared to its average volume of 116,306. The company has a market capitalization of $483.60 million, a P/E ratio of 19.09 and a beta of 1.56. The company has a current ratio of 3.56, a quick ratio of 1.85 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average is $26.28 and its 200 day moving average is $28.84. Allient Inc. has a 1 year low of $23.61 and a 1 year high of $39.54.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.07. The company had revenue of $146.71 million for the quarter, compared to analysts’ expectations of $145.84 million. Allient had a net margin of 4.26% and a return on equity of 15.26%. Equities research analysts expect that Allient Inc. will post 1.85 EPS for the current year.

Allient Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, May 22nd. Allient’s payout ratio is 7.95%.

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.