MQS Management LLC acquired a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,096 shares of the industrial products company's stock, valued at approximately $468,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrature Capital Ltd bought a new position in shares of Applied Industrial Technologies during the 1st quarter valued at about $593,000. American International Group Inc. boosted its holdings in shares of Applied Industrial Technologies by 232.6% during the 1st quarter. American International Group Inc. now owns 69,901 shares of the industrial products company's stock valued at $13,809,000 after purchasing an additional 48,883 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at about $1,279,000. Cumberland Partners Ltd bought a new position in shares of Applied Industrial Technologies during the 1st quarter valued at about $790,000. Finally, Dana Investment Advisors Inc. boosted its holdings in shares of Applied Industrial Technologies by 0.7% during the 2nd quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company's stock valued at $1,928,000 after purchasing an additional 65 shares during the last quarter. Institutional investors own 93.52% of the company's stock.
Applied Industrial Technologies Trading Down 0.1 %
NYSE AIT traded down $0.32 during trading on Thursday, hitting $271.30. The stock had a trading volume of 205,237 shares, compared to its average volume of 287,242. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 27.90, a P/E/G ratio of 3.76 and a beta of 1.03. Applied Industrial Technologies, Inc. has a one year low of $155.47 and a one year high of $276.97. The stock has a 50 day simple moving average of $227.18 and a 200 day simple moving average of $207.04.
Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm's quarterly revenue was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.39 earnings per share. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.74 earnings per share for the current year.
Applied Industrial Technologies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Friday, November 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 15.10%.
Insider Transactions at Applied Industrial Technologies
In related news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares of the company's stock, valued at $3,922,876.50. This trade represents a 20.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,927 shares of company stock valued at $2,439,116. 1.67% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of research analysts recently commented on AIT shares. Loop Capital increased their price target on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the company a "buy" rating in a report on Monday, October 28th. Oppenheimer increased their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an "outperform" rating in a report on Thursday. StockNews.com raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Raymond James increased their price target on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, October 25th. Finally, KeyCorp increased their price target on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $267.86.
Read Our Latest Stock Report on Applied Industrial Technologies
Applied Industrial Technologies Company Profile
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Free Report)
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.
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