Fox Run Management L.L.C. Makes New Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

Fox Run Management L.L.C. purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,862 shares of the industrial products company's stock, valued at approximately $925,000.

Other hedge funds have also added to or reduced their stakes in the company. Barclays PLC raised its stake in shares of Applied Industrial Technologies by 156.6% in the 3rd quarter. Barclays PLC now owns 74,109 shares of the industrial products company's stock valued at $16,537,000 after purchasing an additional 45,224 shares during the period. Westfield Capital Management Co. LP acquired a new position in Applied Industrial Technologies during the third quarter worth $32,233,000. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies in the fourth quarter valued at $44,000. Nordea Investment Management AB lifted its position in Applied Industrial Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company's stock worth $48,540,000 after buying an additional 9,667 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth about $1,776,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James reiterated an "outperform" rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. KeyCorp decreased 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 research note on Monday, March 17th. Robert W. Baird upped their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of "Moderate Buy" and an average price target of $284.29.

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Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock traded down $0.10 during trading hours on Thursday, hitting $232.79. The company had a trading volume of 258,037 shares, compared to its average volume of 261,441. The firm has a 50-day moving average of $247.93 and a 200 day moving average of $244.79. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The firm has a market cap of $8.93 billion, a PE ratio of 23.59, a PEG ratio of 3.14 and a beta of 1.08. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its 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 return on equity of 22.37% and a net margin of 8.62%. On average, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.46 per share. 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 0.79%. This is an increase from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio is currently 18.64%.

About Applied Industrial Technologies

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.