Thematics Asset Management Sells 14,500 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Thematics Asset Management cut its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 26.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,335 shares of the industrial products company's stock after selling 14,500 shares during the period. Thematics Asset Management owned about 0.11% of Applied Industrial Technologies worth $9,659,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Arizona State Retirement System grew its stake in shares of Applied Industrial Technologies by 0.4% during the 4th quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company's stock valued at $2,672,000 after acquiring an additional 40 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of Applied Industrial Technologies by 25.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company's stock worth $49,000 after purchasing an additional 41 shares during the period. OneAscent Financial Services LLC increased its stake in shares of Applied Industrial Technologies by 4.1% in the fourth quarter. OneAscent Financial Services LLC now owns 1,038 shares of the industrial products company's stock worth $249,000 after purchasing an additional 41 shares in the last quarter. Huntington National Bank raised its position in shares of Applied Industrial Technologies by 33.8% during the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock valued at $45,000 after purchasing an additional 47 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Applied Industrial Technologies by 16.8% during the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company's stock valued at $91,000 after buying an additional 55 shares in the last quarter. Institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Price Performance

AIT stock traded down $1.44 during trading on Friday, hitting $237.69. 142,914 shares of the company's stock traded hands, compared to its average volume of 292,524. The business has a fifty day simple moving average of $230.67 and a 200 day simple moving average of $245.59. Applied Industrial Technologies, Inc. has a 52 week low of $177.68 and a 52 week high of $282.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 3.14 and a beta of 1.01.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 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, research analysts expect 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. Investors of record on Friday, February 14th were paid a dividend of $0.46 per share. 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.77%. Applied Industrial Technologies's payout ratio is currently 18.64%.

Analyst Ratings Changes

AIT has been the topic of a number of recent analyst reports. Loop Capital decreased their price target on Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Robert W. Baird lifted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. KeyCorp cut their price objective 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, March 17th. Raymond James reissued an "outperform" rating and issued a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $287.14.

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.