Renaissance Technologies LLC Sells 36,050 Shares of Allient Inc. (NASDAQ:ALNT)

Renaissance Technologies LLC lessened its position in Allient Inc. (NASDAQ:ALNT) by 17.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,372 shares of the company’s stock after selling 36,050 shares during the quarter. Renaissance Technologies LLC owned about 1.03% of Allient worth $4,381,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Allient Price Performance

Shares of ALNT stock opened at $19.30 on Friday. The firm’s 50 day moving average is $22.11 and its 200-day moving average is $26.53. Allient Inc. has a 1 year low of $18.17 and a 1 year high of $36.33. The company has a current ratio of 3.90, a quick ratio of 2.00 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $323.78 million, a price-to-earnings ratio of 12.78 and a beta of 1.51.

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

Allient Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, August 22nd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.62%. Allient’s dividend payout ratio (DPR) is presently 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.