Oak Associates Ltd. OH Has $7.09 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Oak Associates Ltd. OH lifted its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 17.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,597 shares of the industrial products company's stock after purchasing an additional 4,475 shares during the quarter. Oak Associates Ltd. OH owned 0.08% of Applied Industrial Technologies worth $7,088,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in AIT. Invesco Ltd. raised its stake in Applied Industrial Technologies by 7.2% during the 4th quarter. Invesco Ltd. now owns 1,271,356 shares of the industrial products company's stock valued at $304,452,000 after purchasing an additional 85,270 shares during the period. Geode Capital Management LLC grew its holdings in shares of Applied Industrial Technologies by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,061,231 shares of the industrial products company's stock valued at $254,182,000 after buying an additional 20,842 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Applied Industrial Technologies by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 571,275 shares of the industrial products company's stock valued at $136,803,000 after buying an additional 1,958 shares during the period. Norges Bank purchased a new stake in Applied Industrial Technologies in the 4th quarter worth about $129,690,000. Finally, Bank of New York Mellon Corp boosted its position in Applied Industrial Technologies by 3.3% during the 4th quarter. Bank of New York Mellon Corp now owns 366,217 shares of the industrial products company's stock worth $87,698,000 after acquiring an additional 11,529 shares during the period. Hedge funds and other institutional investors own 93.52% of the company's stock.

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Applied Industrial Technologies Trading Down 0.0 %

AIT stock traded down $0.06 during midday trading on Tuesday, reaching $226.31. The company's stock had a trading volume of 274,870 shares, compared to its average volume of 288,357. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The business's 50-day simple moving average is $237.04 and its 200-day simple moving average is $245.81. 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 stock has a market cap of $8.68 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 3.14 and a beta of 1.01.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share 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, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Applied Industrial Technologies's previous quarterly dividend of $0.37. Applied Industrial Technologies's dividend payout ratio is 18.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on AIT shares. Robert W. Baird boosted their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Raymond James reissued an "outperform" rating and set a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. StockNews.com lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Finally, 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 research note on Monday, March 17th. Two investment 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $284.29.

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.