Dupont Capital Management Corp Invests $603,000 in Applied Industrial Technologies (AIT)

Dupont Capital Management Corp acquired a new stake in shares of Applied Industrial Technologies (NYSE:AIT) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,850 shares of the industrial products company’s stock, valued at approximately $603,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Applied Industrial Technologies by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 226 shares during the last quarter. Hartford Investment Management Co. bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $207,000. Teacher Retirement System of Texas bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $212,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at about $223,000. Finally, Shelton Capital Management bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at about $229,000. 88.41% of the stock is owned by institutional investors and hedge funds.

Shares of Applied Industrial Technologies (NYSE:AIT) opened at $68.25 on Friday. The company has a current ratio of 3.33, a quick ratio of 1.90 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2,711.09, a PE ratio of 18.25, a PEG ratio of 1.69 and a beta of 0.96. Applied Industrial Technologies has a 1 year low of $54.00 and a 1 year high of $75.35.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, January 25th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.06. The firm had revenue of $667.19 million for the quarter, compared to analysts’ expectations of $651.05 million. Applied Industrial Technologies had a net margin of 5.43% and a return on equity of 16.53%. sell-side analysts anticipate that Applied Industrial Technologies will post 3.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.76%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, February 14th. Applied Industrial Technologies’s dividend payout ratio is currently 31.02%.

In related news, Director Green Edith Kelly sold 6,873 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $74.41, for a total value of $511,419.93. Following the sale, the director now directly owns 24,230 shares of the company’s stock, valued at approximately $1,802,954.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Todd A. Barlett sold 3,800 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $75.00, for a total transaction of $285,000.00. Following the completion of the sale, the vice president now directly owns 90,155 shares in the company, valued at $6,761,625. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

AIT has been the subject of several research reports. ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Tuesday, January 23rd. Finally, Wellington Shields raised shares of Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.00.

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About Applied Industrial Technologies

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

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