Should You Hold Allient (ALNT)?

Diamond Hill Capital, an investment management company, released its “Small Cap Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. During Q4 2023, the strategy returned 15.49% compared to 14.03% for the Russell 2000 Index. The relative outperformance in Q4 came from the strong performance of Financials and consumer discretionary holdings while industrials and healthcare holdings detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Diamond Hill Small Cap Fund featured stocks such as Allient Inc. (NASDAQ:ALNT) in the fourth quarter 2023 investor letter. Headquartered in Amherst, New York, Allient Inc. (NASDAQ:ALNT) engages in the design, manufacturing, and distribution of precision and specialty-controlled motion components and systems. On February 2, 2024, Allient Inc. (NASDAQ:ALNT) stock closed at $28.64 per share. One-month return of Allient Inc. (NASDAQ:ALNT) was 0.14%, and its shares lost 28.93% of their value over the last 52 weeks. Allient Inc. (NASDAQ:ALNT) has a market capitalization of $464.292 million.

Diamond Hill Small Cap Fund stated the following regarding Allient Inc. (NASDAQ:ALNT) in its fourth quarter 2023 investor letter:

“Other bottom contributors included Concrete Pumping Holdings, Energy Recovery and Allient Inc. (NASDAQ:ALNT). Allient, which designs and manufactures precision and specialty controlled motion components and systems, benefited from an improving supply chain environment which allowed it to fill some long-standing orders, driving revenue growth. Further, the company’s order book for the next couple years is growing, and we anticipate it should capitalize well on long-term demand for its core motion control products as concerns about industry destocking and the global macroeconomic environment ease.”

Close up of a precision injection molding machine in a metal fabrication facility.

Allient Inc. (NASDAQ:ALNT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Allient Inc. (NASDAQ:ALNT) at the end of third quarter which was 17 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.