Counterpoint Mutual Funds LLC Invests $327,000 in Applied Industrial Technologies, Inc. (NYSE:AIT)

Counterpoint Mutual Funds LLC bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,364 shares of the industrial products company's stock, valued at approximately $327,000.

Several other large investors have also recently bought and sold shares of AIT. Larson Financial Group LLC boosted its holdings in shares of Applied Industrial Technologies by 5,900.0% in the fourth quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 118 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in Applied Industrial Technologies in the fourth quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its stake in Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 88 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Applied Industrial Technologies during the 4th quarter valued at $44,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Applied Industrial Technologies by 25.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock worth $49,000 after buying an additional 41 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Stock Down 1.6 %

Shares of AIT traded down $3.63 during mid-day trading on Friday, reaching $224.83. The company's stock had a trading volume of 1,094,007 shares, compared to its average volume of 335,228. The company has a market cap of $8.63 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The business has a fifty day moving average of $249.32 and a 200 day moving average of $243.51. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. Applied Industrial Technologies, Inc. has a 1 year low of $177.68 and a 1 year high of $282.98.

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Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. As a group, analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.46 dividend. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.82%. Applied Industrial Technologies's dividend payout ratio is presently 18.64%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com lowered Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Raymond James reiterated an "outperform" rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. KeyCorp reduced their target price on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a report on Monday. Robert W. Baird upped their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Finally, Bank of America upgraded Applied Industrial Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Applied Industrial Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $284.29.

Applied Industrial Technologies Company 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.