Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Foundry Partners LLC

Foundry Partners LLC lifted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 39.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,984 shares of the industrial products company’s stock after acquiring an additional 845 shares during the period. Foundry Partners LLC’s holdings in Applied Industrial Technologies were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Huntington National Bank lifted its position in Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 183 shares during the period. NBC Securities Inc. acquired a new stake in Applied Industrial Technologies in the third quarter worth approximately $40,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Applied Industrial Technologies in the fourth quarter worth approximately $54,000. Legacy Financial Group LLC acquired a new stake in Applied Industrial Technologies in the third quarter worth approximately $52,000. Finally, Riverwater Partners LLC acquired a new stake in Applied Industrial Technologies in the fourth quarter worth approximately $212,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

NYSE AIT opened at $183.58 on Tuesday. The stock has a market capitalization of $7.10 billion, a P/E ratio of 19.26, a P/E/G ratio of 1.93 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 1 year low of $122.24 and a 1 year high of $201.76. The business’s fifty day moving average is $190.16 and its two-hundred day moving average is $174.99. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.13. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Applied Industrial Technologies had a return on equity of 24.59% and a net margin of 8.39%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 earnings per share. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.37 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.35. This represents a $1.48 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Wednesday, February 14th. Applied Industrial Technologies’s payout ratio is 15.53%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $182.34, for a total transaction of $364,680.00. Following the sale, the vice president now directly owns 57,155 shares of the company’s stock, valued at approximately $10,421,642.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Oppenheimer assumed coverage on Applied Industrial Technologies in a research report on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price for the company. KeyCorp upped their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $201.00.

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.