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

Foundry Partners LLC raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 39.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,984 shares of the industrial products company’s stock after purchasing an additional 845 shares during the period. Foundry Partners LLC’s holdings in Applied Industrial Technologies were worth $515,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Huntington National Bank lifted its position in shares of Applied Industrial Technologies by 963.2% in the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 183 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $40,000. Legacy Financial Group LLC purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $52,000. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $54,000. Finally, Fifth Third Bancorp lifted its position in shares of Applied Industrial Technologies by 580.1% in the third quarter. Fifth Third Bancorp now owns 1,367 shares of the industrial products company’s stock valued at $211,000 after acquiring an additional 1,166 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 2,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $182.34, for a total transaction of $364,680.00. Following the completion of the sale, the vice president now owns 57,155 shares of the company’s stock, valued at $10,421,642.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by insiders.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $183.58 on Tuesday. Applied Industrial Technologies, Inc. has a one year low of $122.24 and a one year high of $201.76. The company has a market cap of $7.10 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 1.93 and a beta of 1.08. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.59 and a current ratio of 3.74. The business’s 50 day moving average price is $190.16 and its 200 day moving average price is $174.99.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.13. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 earnings per share. On average, research analysts predict that Applied Industrial Technologies, Inc. will post 9.49 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm 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 a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.48 annualized dividend and a yield of 0.81%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.53%.

Analyst Ratings Changes

Several research firms have recently weighed in on AIT. KeyCorp raised their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Oppenheimer started coverage on Applied Industrial Technologies in a research report on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $201.00.

About Applied Industrial Technologies

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.