Cornercap Investment Counsel Inc. Sells 8,309 Shares of Allient Inc. (NASDAQ:ALNT)

Cornercap Investment Counsel Inc. lessened its holdings in shares of Allient Inc. (NASDAQ:ALNT) by 40.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 12,058 shares of the company’s stock after selling 8,309 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Allient were worth $229,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ALNT. Shell Asset Management Co. bought a new position in shares of Allient during the 1st quarter worth about $35,000. CWM LLC grew its position in Allient by 798.2% in the second quarter. CWM LLC now owns 1,006 shares of the company’s stock valued at $25,000 after acquiring an additional 894 shares during the period. Ameritas Investment Partners Inc. acquired a new position in Allient during the first quarter worth $49,000. Allspring Global Investments Holdings LLC bought a new position in Allient during the 1st quarter valued at about $57,000. Finally, EntryPoint Capital LLC acquired a new position in Allient in the first quarter valued at about $70,000. Institutional investors own 61.57% of the company’s stock.

Allient Stock Performance

Shares of NASDAQ ALNT opened at $24.34 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 2.18 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $409.89 million, a P/E ratio of 27.55 and a beta of 1.51. Allient Inc. has a 12 month low of $16.91 and a 12 month high of $36.33. The stock has a 50 day moving average of $19.39 and a 200-day moving average of $23.31.

Allient (NASDAQ:ALNT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. The company 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 period in the previous year, the business earned $0.61 earnings per share. As a group, equities research analysts predict 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, December 5th. Investors of record on Thursday, November 21st will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Thursday, November 21st. Allient’s dividend payout ratio (DPR) is presently 13.64%.

Wall Street Analyst Weigh In

ALNT has been the topic of several research analyst reports. Northland Securities decreased their price target on shares of Allient from $35.00 to $30.00 and set a “market perform” rating on the stock in a research note on Friday, August 9th. Roth Mkm dropped their target price on Allient from $39.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Finally, Craig Hallum cut 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.

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.