Allient Inc. (NASDAQ:ALNT) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC cut its holdings in Allient Inc. (NASDAQ:ALNT) by 12.8% during the 2nd quarter, Holdings Channel reports. The firm owned 81,731 shares of the company’s stock after selling 12,050 shares during the period. Confluence Investment Management LLC’s holdings in Allient were worth $2,065,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALNT. Fisher Asset Management LLC purchased a new position in shares of Allient during the fourth quarter valued at approximately $1,003,000. Allspring Global Investments Holdings LLC purchased a new position in Allient during the first quarter worth approximately $57,000. Wasatch Advisors LP purchased a new position in Allient during the first quarter worth approximately $20,914,000. Mesirow Financial Investment Management Inc. purchased a new position in Allient during the first quarter worth approximately $288,000. Finally, Denali Advisors LLC purchased a new position in Allient during the first quarter worth approximately $189,000. Hedge funds and other institutional investors own 61.57% of the company’s stock.

Allient Trading Down 6.2 %

NASDAQ:ALNT traded down $1.70 during trading hours on Friday, reaching $25.76. 59,507 shares of the company were exchanged, compared to its average volume of 83,649. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.56 and a quick ratio of 1.85. The firm has a market cap of $432.25 million, a price-to-earnings ratio of 17.06 and a beta of 1.56. Allient Inc. has a 52-week low of $23.61 and a 52-week high of $37.17. The stock has a 50 day simple moving average of $26.26 and a 200 day simple moving average of $28.83.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, May 8th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. The business had revenue of $146.71 million for the quarter, compared to analyst estimates of $145.84 million. Allient had a net margin of 4.26% and a return on equity of 15.26%. As a group, analysts predict that Allient Inc. will post 1.85 EPS for the current year.

Allient Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Thursday, May 23rd were issued a dividend of $0.03 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.47%. Allient’s payout ratio is 7.95%.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm cut their price target on shares of Allient from $42.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd.

About Allient

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.