Cornercap Investment Counsel Inc. Has $515,000 Stock Holdings in Allient Inc. (NASDAQ:ALNT)

Cornercap Investment Counsel Inc. increased its position in shares of Allient Inc. (NASDAQ:ALNT) by 18.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,367 shares of the company’s stock after acquiring an additional 3,236 shares during the period. Cornercap Investment Counsel Inc. owned about 0.12% of Allient worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC purchased a new stake in shares of Allient during the 4th quarter worth about $1,003,000. Confluence Investment Management LLC bought a new position in Allient during the first quarter valued at approximately $3,346,000. Allspring Global Investments Holdings LLC acquired a new stake in Allient in the first quarter valued at approximately $57,000. Wasatch Advisors LP bought a new stake in Allient in the first quarter worth approximately $20,914,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of Allient during the 1st quarter worth $288,000. Institutional investors and hedge funds own 61.57% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Northland Securities reduced their price objective on shares of Allient from $35.00 to $30.00 and set a “market perform” rating for the company in a research note on Friday, August 9th. Craig Hallum decreased their price target on Allient from $41.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Roth Mkm cut their price objective on Allient from $39.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 13th.

Allient Stock Performance

Shares of ALNT opened at $20.44 on Friday. The company has a market capitalization of $344.21 million, a PE ratio of 13.54 and a beta of 1.51. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.90 and a quick ratio of 2.00. Allient Inc. has a one year low of $18.17 and a one year high of $36.33. The company’s fifty day moving average price is $23.44 and its 200 day moving average price is $27.26.

Allient (NASDAQ:ALNT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.11). The business had revenue of $136.03 million for the quarter, compared to analyst estimates of $137.55 million. Allient had a return on equity of 13.04% and a net margin of 3.35%. During the same period in the prior year, the firm posted $0.58 EPS. As a group, analysts expect that Allient Inc. will post 1.29 earnings per share for the current year.

Allient Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd were paid a $0.03 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.12 annualized dividend and a dividend yield of 0.59%. 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.