Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Purchased by Strs Ohio

Strs Ohio grew its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,200 shares of the industrial products company’s stock after acquiring an additional 400 shares during the period. Strs Ohio owned about 0.10% of Applied Industrial Technologies worth $6,942,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at about $25,000. Huntington National Bank grew its stake in shares of Applied Industrial Technologies by 963.2% during the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 183 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at about $28,000. State of Wyoming acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter valued at about $29,000. Finally, NBC Securities Inc. acquired a new stake in shares of Applied Industrial Technologies during the third quarter valued at about $40,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Down 1.9 %

NYSE:AIT opened at $184.27 on Thursday. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 2.00 and a beta of 1.08. Applied Industrial Technologies, Inc. has a one year low of $122.24 and a one year high of $201.76. The stock has a 50-day simple moving average of $190.32 and a 200 day simple moving average of $174.24. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were issued a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.80%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 15.53%.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the transaction, the vice president now owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AIT has been the subject of several recent analyst reports. KeyCorp raised their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Oppenheimer initiated coverage on Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price target for the company. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $201.00.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.