Sei Investments Co. Has $20.99 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Sei Investments Co. raised its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,629 shares of the industrial products company's stock after purchasing an additional 3,270 shares during the quarter. Sei Investments Co. owned about 0.23% of Applied Industrial Technologies worth $20,985,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Arizona State Retirement System boosted its stake in Applied Industrial Technologies by 0.4% during the fourth quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company's stock valued at $2,672,000 after buying an additional 40 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in 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 valued at $49,000 after acquiring an additional 41 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock worth $91,000 after purchasing an additional 55 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Applied Industrial Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company's stock worth $289,000 after purchasing an additional 64 shares in the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Applied Industrial Technologies by 3.7% during the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 68 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AIT. KeyCorp decreased their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Robert W. Baird lifted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. StockNews.com downgraded Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Finally, 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. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $284.29.

Applied Industrial Technologies Stock Down 2.9 %

Shares of AIT traded down $6.65 during trading hours on Friday, reaching $225.57. The company's stock had a trading volume of 274,627 shares, compared to its average volume of 278,401. Applied Industrial Technologies, Inc. has a 1-year low of $177.68 and a 1-year high of $282.98. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 3.14 and a beta of 1.08. The company has a 50 day moving average of $246.85 and a two-hundred day moving average of $245.57.

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

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.82%. This is a positive change from Applied Industrial Technologies's previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies's payout ratio is currently 18.64%.

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.