New York State Teachers Retirement System Takes Position in Allient Inc. (NASDAQ:ALNT)

New York State Teachers Retirement System bought a new stake in shares of Allient Inc. (NASDAQ:ALNT) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,333 shares of the company’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds have also bought and sold shares of ALNT. Creative Planning bought a new position in shares of Allient during the 3rd quarter worth about $199,000. Assenagon Asset Management S.A. raised its stake in Allient by 56.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 119,754 shares of the company’s stock worth $2,274,000 after buying an additional 43,167 shares during the period. Pinnacle Associates Ltd. boosted its holdings in Allient by 7.9% in the third quarter. Pinnacle Associates Ltd. now owns 267,806 shares of the company’s stock worth $5,086,000 after acquiring an additional 19,622 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Allient by 29.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 238,844 shares of the company’s stock valued at $4,536,000 after acquiring an additional 54,005 shares during the period. Finally, Meixler Investment Management Ltd. increased its holdings in shares of Allient by 11.6% during the third quarter. Meixler Investment Management Ltd. now owns 11,287 shares of the company’s stock valued at $214,000 after acquiring an additional 1,172 shares in the last quarter. 61.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ALNT shares. Northland Capmk upgraded Allient from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Northland Securities raised shares of Allient from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $30.00 to $35.00 in a research note on Tuesday, February 11th.

Allient Stock Performance

Shares of Allient stock opened at $25.86 on Tuesday. Allient Inc. has a 52 week low of $16.91 and a 52 week high of $36.33. The company has a quick ratio of 2.18, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The business has a 50 day moving average price of $25.20 and a 200-day moving average price of $22.56. The company has a market cap of $435.61 million, a PE ratio of 29.39 and a beta of 1.61.

Allient 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.