Applied Industrial Technologies, Inc. Expected to Post FY2018 Earnings of $3.20 Per Share (NYSE:AIT)

Applied Industrial Technologies, Inc. (NYSE:AIT) – Northcoast Research upped their FY2018 earnings per share (EPS) estimates for shares of Applied Industrial Technologies in a research note issued on Wednesday, according to Zacks Investment Research. Northcoast Research analyst R. Cieslak now expects that the industrial products company will post earnings per share of $3.20 for the year, up from their previous forecast of $3.10. Northcoast Research currently has a “Neutral” rating on the stock.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, October 25th. The industrial products company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.76 by $0.10. The business had revenue of $680.70 million for the quarter, compared to analyst estimates of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. Applied Industrial Technologies’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share.

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Other research analysts have also recently issued reports about the stock. BidaskClub cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Thursday, August 24th. Finally, ValuEngine cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $66.00.

Applied Industrial Technologies (AIT) opened at $61.60 on Friday. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37. The stock has a market cap of $2,391.00, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.61 and a beta of 0.94. Applied Industrial Technologies has a twelve month low of $53.95 and a twelve month high of $70.05.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.88%. Applied Industrial Technologies’s dividend payout ratio is currently 32.58%.

In other Applied Industrial Technologies news, VP Mark O. Eisele sold 4,939 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $55.91, for a total transaction of $276,139.49. Following the completion of the sale, the vice president now directly owns 106,090 shares of the company’s stock, valued at $5,931,491.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $56.92, for a total transaction of $341,520.00. Following the completion of the transaction, the vice president now owns 159,029 shares of the company’s stock, valued at $9,051,930.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,571 shares of company stock valued at $4,070,841. 3.70% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. boosted its position in shares of Applied Industrial Technologies by 2.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 64 shares during the period. Riverhead Capital Management LLC boosted its position in shares of Applied Industrial Technologies by 57.0% in the second quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock worth $195,000 after purchasing an additional 1,198 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Applied Industrial Technologies by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 226 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its position in shares of Applied Industrial Technologies by 59.1% during the second quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Applied Industrial Technologies during the second quarter worth $211,000. Institutional investors and hedge funds own 87.46% of the company’s stock.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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Earnings History and Estimates for Applied Industrial Technologies (NYSE:AIT)

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