Public Employees Retirement System of Ohio Raises Holdings in Applied Industrial Technologies (AIT)

Public Employees Retirement System of Ohio increased its position in Applied Industrial Technologies (NYSE:AIT) by 243.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,733 shares of the industrial products company’s stock after acquiring an additional 10,447 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Applied Industrial Technologies were worth $969,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AIT. Koch Industries Inc. boosted its position in shares of 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 acquiring an additional 294,118 shares during the period. AJO LP bought a new position in shares of Applied Industrial Technologies in the second quarter valued at approximately $11,749,000. Vanguard Group Inc. boosted its position 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 acquiring an additional 166,858 shares during the period. American Century Companies Inc. boosted its position in shares of Applied Industrial Technologies by 248.4% in the third quarter. American Century Companies Inc. now owns 182,063 shares of the industrial products company’s stock valued at $11,980,000 after acquiring an additional 129,799 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Applied Industrial Technologies by 45.3% in the third quarter. Wells Fargo & Company MN now owns 369,137 shares of the industrial products company’s stock valued at $24,288,000 after acquiring an additional 115,166 shares during the period. Institutional investors own 87.89% of the company’s stock.

AIT has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Friday, December 8th. Wellington Shields upgraded shares of Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a research report on Wednesday, December 27th. Finally, ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $67.00.

Shares of Applied Industrial Technologies (NYSE AIT) opened at $70.40 on Friday. Applied Industrial Technologies has a 1 year low of $54.00 and a 1 year high of $70.70. The stock has a market cap of $2,693.77, a P/E ratio of 19.78, a price-to-earnings-growth ratio of 1.81 and a beta of 0.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 3.13.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. The business had revenue of $680.70 million during 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 revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.70 earnings per share. equities research analysts anticipate that Applied Industrial Technologies will post 3.19 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This article was reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another publication, it was stolen and republished in violation of US and international copyright legislation. The legal version of this article can be viewed at https://www.com-unik.info/2018/01/06/public-employees-retirement-system-of-ohio-raises-holdings-in-applied-industrial-technologies-ait.html.

Applied Industrial Technologies 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.

Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit