Applied Industrial Technologies, Inc. (NYSE:AIT) VP Mark O. Eisele sold 6,000 shares of Applied Industrial Technologies stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $56.92, for a total value of $341,520.00. Following the sale, the vice president now directly owns 159,029 shares in the company, valued at approximately $9,051,930.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) opened at 55.10 on Friday. The company’s 50-day moving average price is $57.29 and its 200 day moving average price is $60.47. The company has a market cap of $2.15 billion, a P/E ratio of 16.21 and a beta of 0.95. Applied Industrial Technologies, Inc. has a 52 week low of $43.50 and a 52 week high of $69.00.
Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 EPS for the quarter, beating the consensus estimate of $0.78 by $0.56. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The firm had revenue of $681.47 million during the quarter, compared to analysts’ expectations of $680.20 million. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts anticipate that Applied Industrial Technologies, Inc. will post $3.10 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.11%. Applied Industrial Technologies’s dividend payout ratio is presently 34.12%.
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Large investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its stake in Applied Industrial Technologies by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 4,286 shares of the industrial products company’s stock valued at $253,000 after buying an additional 23 shares in the last quarter. Koch Industries Inc. boosted its stake in Applied Industrial Technologies by 8,147.3% in the second quarter. Koch Industries Inc. now owns 297,728 shares of the industrial products company’s stock valued at $293,000 after buying an additional 294,118 shares in the last quarter. Verition Fund Management LLC boosted its stake in Applied Industrial Technologies by 96.1% in the second quarter. Verition Fund Management LLC now owns 6,397 shares of the industrial products company’s stock valued at $378,000 after buying an additional 3,135 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in Applied Industrial Technologies during the second quarter valued at approximately $498,000. Finally, Ameritas Investment Partners Inc. boosted its stake in Applied Industrial Technologies by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after buying an additional 226 shares in the last quarter. 87.61% of the stock is owned by hedge funds and other institutional investors.
AIT has been the topic of several recent analyst reports. Zacks Investment Research downgraded Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub downgraded Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Northcoast Research initiated coverage on Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Company reissued a “market perform” rating and set a $63.00 target price (down previously from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $62.00.
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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