Diamond Hill Capital Management Inc. Purchases 54,005 Shares of Allient Inc. (NASDAQ:ALNT)

Diamond Hill Capital Management Inc. lifted its position in shares of Allient Inc. (NASDAQ:ALNT) by 29.2% during the third quarter, Holdings Channel reports. The firm owned 238,844 shares of the company’s stock after acquiring an additional 54,005 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Allient were worth $4,536,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in Allient in the first quarter worth about $1,110,000. Jacobs Levy Equity Management Inc. bought a new stake in Allient in the first quarter worth about $1,332,000. Gabelli Funds LLC bought a new stake in Allient in the first quarter worth about $2,461,000. Kennedy Capital Management LLC bought a new stake in Allient in the first quarter worth about $2,352,000. Finally, Silvercrest Asset Management Group LLC bought a new stake in Allient in the first quarter worth about $5,696,000. Institutional investors own 61.57% of the company’s stock.

Analyst Ratings Changes

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

Allient Price Performance

ALNT opened at $23.39 on Tuesday. The company has a market capitalization of $394.00 million, a price-to-earnings ratio of 26.58 and a beta of 1.51. The company has a quick ratio of 2.00, a current ratio of 4.10 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $19.04 and a 200-day moving average price of $23.51. Allient Inc. has a twelve month low of $16.91 and a twelve month high of $36.33.

Allient (NASDAQ:ALNT) last posted its earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.10. The firm had revenue of $125.21 million during the quarter, compared to the consensus estimate of $124.28 million. Allient had a net margin of 2.64% and a return on equity of 10.80%. During the same quarter last year, the company earned $0.61 earnings per share. Equities analysts expect that Allient Inc. will post 1.29 EPS for the current year.

Allient Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.12 annualized dividend and a yield of 0.51%. Allient’s dividend payout ratio is currently 13.64%.

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.