WBI Investments Inc. boosted its position in Applied Industrial Technologies (NYSE:AIT) by 213.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 103,118 shares of the industrial products company’s stock after acquiring an additional 70,217 shares during the quarter. WBI Investments Inc. owned 0.27% of Applied Industrial Technologies worth $7,517,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Applied Industrial Technologies by 2.7% in the fourth quarter. BlackRock Inc. now owns 6,058,895 shares of the industrial products company’s stock valued at $412,609,000 after acquiring an additional 159,368 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Applied Industrial Technologies by 214.4% in the first quarter. Wells Fargo & Company MN now owns 1,233,352 shares of the industrial products company’s stock valued at $89,911,000 after acquiring an additional 841,018 shares in the last quarter. Northern Trust Corp raised its holdings in Applied Industrial Technologies by 0.5% in the first quarter. Northern Trust Corp now owns 620,273 shares of the industrial products company’s stock valued at $45,218,000 after acquiring an additional 3,260 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Applied Industrial Technologies by 9.3% in the fourth quarter. Macquarie Group Ltd. now owns 576,453 shares of the industrial products company’s stock valued at $39,257,000 after acquiring an additional 49,061 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Applied Industrial Technologies by 2.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 357,223 shares of the industrial products company’s stock valued at $26,042,000 after acquiring an additional 10,131 shares in the last quarter. 86.92% of the stock is currently owned by hedge funds and other institutional investors.
AIT stock traded down $0.15 during midday trading on Thursday, reaching $69.05. 109 shares of the company were exchanged, compared to its average volume of 288,683. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 1.26. Applied Industrial Technologies has a 1-year low of $54.00 and a 1-year high of $75.40. The stock has a market cap of $2.68 billion, a P/E ratio of 24.37, a PEG ratio of 1.57 and a beta of 0.95.
Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, April 26th. The industrial products company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.11. Applied Industrial Technologies had a net margin of 5.40% and a return on equity of 17.52%. The company had revenue of $827.67 million for the quarter, compared to analysts’ expectations of $803.23 million. During the same quarter last year, the company earned $0.75 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. equities research analysts predict that Applied Industrial Technologies will post 3.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Tuesday, May 15th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.74%. Applied Industrial Technologies’s payout ratio is currently 42.25%.
A number of analysts have weighed in on AIT shares. ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $68.50.
In related news, Director Joe Anthony Raver acquired 1,585 shares of the business’s stock in a transaction on Tuesday, May 1st. The shares were bought at an average price of $63.20 per share, with a total value of $100,172.00. Following the completion of the acquisition, the director now owns 3,982 shares in the company, valued at $251,662.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 3.70% of the stock is currently owned by company insiders.
Applied Industrial Technologies Profile
Applied Industrial Technologies, Inc distributes industrial products in the United States, Puerto Rico, Canada, Mexico, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center-Based Distribution and Fluid Power Businesses.
Receive News & Ratings for Applied Industrial Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies and related companies with MarketBeat.com's FREE daily email newsletter.