Algert Global LLC grew its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 31.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 49,744 shares of the industrial products company’s stock after buying an additional 12,026 shares during the period. Applied Industrial Technologies accounts for approximately 0.7% of Algert Global LLC’s portfolio, making the stock its 11th largest position. Algert Global LLC owned about 0.13% of Applied Industrial Technologies worth $3,273,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of Applied Industrial Technologies by 0.5% in the second quarter. BlackRock Inc. now owns 5,592,219 shares of the industrial products company’s stock valued at $330,220,000 after buying an additional 25,364 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Applied Industrial Technologies by 4.8% in the second quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock valued at $216,264,000 after buying an additional 166,858 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Applied Industrial Technologies by 4.9% in the second quarter. JPMorgan Chase & Co. now owns 2,007,925 shares of the industrial products company’s stock valued at $118,568,000 after buying an additional 94,681 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Applied Industrial Technologies by 6.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,178,032 shares of the industrial products company’s stock worth $77,513,000 after purchasing an additional 68,270 shares in the last quarter. Finally, State Street Corp raised its holdings in Applied Industrial Technologies by 11.2% during the second quarter. State Street Corp now owns 1,003,427 shares of the industrial products company’s stock worth $59,253,000 after purchasing an additional 101,228 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently issued reports on AIT shares. Zacks Investment Research cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, BidaskClub cut shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $67.00.
Applied Industrial Technologies, Inc. (NYSE AIT) opened at $62.35 on Thursday. The stock has a market cap of $2,431.77, a PE ratio of 20.88, a P/E/G ratio of 1.64 and a beta of 0.93. Applied Industrial Technologies, Inc. has a 1-year low of $54.00 and a 1-year high of $70.05. The company has a current ratio of 3.13, a quick ratio of 1.83 and a debt-to-equity ratio of 0.37.
Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. The firm had revenue of $680.70 million during the quarter, compared to analysts’ expectations of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. analysts predict that Applied Industrial Technologies, Inc. will post 3.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Wednesday, November 15th were issued a dividend of $0.29 per share. The ex-dividend date was Tuesday, November 14th. This represents a $1.16 annualized dividend and a yield of 1.86%. Applied Industrial Technologies’s dividend payout ratio is currently 32.58%.
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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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