Bank of New York Mellon Corp Purchases 17,739 Shares of Allient Inc. (NASDAQ:ALNT)

Bank of New York Mellon Corp lifted its position in shares of Allient Inc. (NASDAQ:ALNT) by 18.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,095 shares of the company’s stock after purchasing an additional 17,739 shares during the period. Bank of New York Mellon Corp owned 0.68% of Allient worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Nkcfo LLC bought a new position in Allient during the fourth quarter worth about $364,000. New York State Teachers Retirement System acquired a new position in shares of Allient during the 4th quarter worth approximately $32,000. White Pine Capital LLC bought a new position in shares of Allient during the fourth quarter worth approximately $407,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Allient by 23,963.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 406,193 shares of the company’s stock worth $9,948,000 after purchasing an additional 404,505 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Allient by 5.0% in the fourth quarter. Empowered Funds LLC now owns 42,586 shares of the company’s stock valued at $1,034,000 after buying an additional 2,040 shares in the last quarter. Institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

NASDAQ:ALNT opened at $23.87 on Friday. The firm has a market capitalization of $402.09 million, a P/E ratio of 27.13 and a beta of 1.59. The company has a fifty day moving average of $25.03 and a 200-day moving average of $22.96. The company has a quick ratio of 2.18, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. Allient Inc. has a twelve month low of $16.91 and a twelve month high of $36.33.

Allient (NASDAQ:ALNT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. The business had revenue of $122.01 million for the quarter, compared to analysts’ expectations of $119.72 million. Allient had a net margin of 2.64% and a return on equity of 10.80%. As a group, sell-side analysts anticipate that Allient Inc. will post 1.43 EPS for the current year.

Allient Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Thursday, March 20th. Allient’s dividend payout ratio (DPR) is currently 15.00%.

Analysts Set New Price Targets

Several research firms recently issued reports on ALNT. Northland Capmk upgraded shares of Allient from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Northland Securities raised Allient from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $30.00 to $35.00 in a report on Tuesday, February 11th.

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.