American Century Companies Inc. decreased its holdings in shares of Applied Industrial Technologies (NYSE:AIT) by 31.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 125,638 shares of the industrial products company’s stock after selling 56,425 shares during the quarter. American Century Companies Inc. owned approximately 0.32% of Applied Industrial Technologies worth $8,556,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Meeder Asset Management Inc. grew its position in Applied Industrial Technologies by 175.2% in the 4th quarter. Meeder Asset Management Inc. now owns 4,285 shares of the industrial products company’s stock worth $292,000 after purchasing an additional 2,728 shares during the last quarter. CIBC Asset Management Inc bought a new position in Applied Industrial Technologies during the 4th quarter valued at about $337,000. Aperio Group LLC lifted its holdings in Applied Industrial Technologies by 15.7% during the 4th quarter. Aperio Group LLC now owns 12,954 shares of the industrial products company’s stock valued at $882,000 after purchasing an additional 1,761 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its holdings in Applied Industrial Technologies by 43.5% during the 4th quarter. Quantitative Systematic Strategies LLC now owns 5,771 shares of the industrial products company’s stock valued at $393,000 after purchasing an additional 1,749 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in Applied Industrial Technologies by 4.5% during the 4th quarter. Algert Global LLC now owns 51,982 shares of the industrial products company’s stock valued at $3,540,000 after purchasing an additional 2,238 shares during the last quarter. Institutional investors and hedge funds own 89.83% of the company’s stock.
Applied Industrial Technologies (AIT) traded down $0.35 during midday trading on Wednesday, reaching $73.55. 117,201 shares of the company’s stock traded hands, compared to its average volume of 282,328. Applied Industrial Technologies has a 1 year low of $54.00 and a 1 year high of $75.40. The company has a market capitalization of $2,881.26, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.79 and a beta of 0.97. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.33 and a quick ratio of 1.90.
Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, January 25th. The industrial products company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.06. Applied Industrial Technologies had a net margin of 5.43% and a return on equity of 16.53%. The firm had revenue of $667.19 million for the quarter, compared to the consensus estimate of $651.05 million. sell-side analysts expect that Applied Industrial Technologies will post 3.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Thursday, February 15th were given a dividend of $0.30 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.29. The ex-dividend date was Wednesday, February 14th. This represents a $1.20 annualized dividend and a yield of 1.63%. Applied Industrial Technologies’s dividend payout ratio is currently 32.09%.
In related news, Director Green Edith Kelly sold 6,873 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $74.41, for a total value of $511,419.93. Following the completion of the transaction, the director now owns 24,230 shares in the company, valued at approximately $1,802,954.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Todd A. Barlett sold 3,800 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $75.00, for a total transaction of $285,000.00. Following the sale, the vice president now directly owns 90,155 shares of the company’s stock, valued at approximately $6,761,625. The disclosure for this sale can be found here. Corporate insiders own 3.70% of the company’s stock.
Several research firms have weighed in on AIT. Zacks Investment Research cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Wellington Shields upgraded shares of Applied Industrial Technologies to a “hold” rating in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus 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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