Quantamental Technologies LLC bought a new stake in Applied Industrial Technologies (NYSE:AIT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,099 shares of the industrial products company’s stock, valued at approximately $113,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIT. BlueMountain Capital Management LLC raised its position in Applied Industrial Technologies by 182.4% in the third quarter. BlueMountain Capital Management LLC now owns 2,649 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 1,711 shares in the last quarter. Ifrah Financial Services Inc. acquired a new position in Applied Industrial Technologies in the third quarter worth about $214,000. Zeke Capital Advisors LLC acquired a new position in Applied Industrial Technologies in the third quarter worth about $228,000. Commonwealth Bank of Australia acquired a new position in Applied Industrial Technologies in the third quarter worth about $273,000. Finally, Jane Street Group LLC acquired a new position in Applied Industrial Technologies in the second quarter worth about $283,000. Institutional investors and hedge funds own 87.92% of the company’s stock.
Several research firms recently issued reports on AIT. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Wellington Shields lowered shares of Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a research report on Thursday, January 24th. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Friday, October 12th. Wells Fargo & Co reaffirmed a “hold” rating and set a $60.00 price objective (down previously from $75.00) on shares of Applied Industrial Technologies in a report on Thursday, December 20th. Finally, KeyCorp raised shares of Applied Industrial Technologies from a “sector weight” rating to an “overweight” rating in a report on Tuesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Applied Industrial Technologies presently has a consensus rating of “Hold” and an average price target of $71.50.
In other Applied Industrial Technologies news, Director Green Edith Kelly sold 7,090 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $65.51, for a total value of $464,465.90. Following the transaction, the director now directly owns 19,240 shares of the company’s stock, valued at $1,260,412.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by company insiders.
Shares of AIT stock opened at $57.98 on Wednesday. Applied Industrial Technologies has a 52-week low of $50.56 and a 52-week high of $82.35. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. The company has a current ratio of 2.75, a quick ratio of 1.61 and a debt-to-equity ratio of 1.04.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, January 24th. The industrial products company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.07). Applied Industrial Technologies had a net margin of 4.80% and a return on equity of 20.03%. The business had revenue of $840.00 million during the quarter, compared to the consensus estimate of $855.94 million. During the same period in the previous year, the business posted $0.79 earnings per share. Applied Industrial Technologies’s revenue was up 25.9% compared to the same quarter last year. As a group, equities analysts anticipate that Applied Industrial Technologies will post 4.58 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Friday, February 15th will be paid a $0.31 dividend. The ex-dividend date is Thursday, February 14th. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.30. This represents a $1.24 dividend on an annualized basis and a yield of 2.14%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 32.09%.
About Applied Industrial Technologies
Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.
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