Applied Industrial Technologies, Inc. (NYSE:AIT) Plans Quarterly Dividend of $0.51

Applied Industrial Technologies, Inc. (NYSE:AIT) announced a quarterly dividend on Tuesday, October 27th. Shareholders of record on Friday, November 13th will be given a dividend of $0.51 per share by the industrial products company on Monday, November 30th. This represents a $2.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 13th.

Applied Industrial Technologies has raised its dividend by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 16 consecutive years. Applied Industrial Technologies has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Applied Industrial Technologies to earn $13.18 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 15.5%.

Applied Industrial Technologies Trading Down 8.4%

AIT stock traded down $27.26 during mid-day trading on Tuesday, reaching $297.42. 680,702 shares of the stock traded hands, compared to its average volume of 297,774. The stock’s fifty day moving average is $332.15 and its 200-day moving average is $308.38. The company has a market cap of $10.92 billion, a P/E ratio of 27.14, a P/E/G ratio of 2.54 and a beta of 0.85. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. Applied Industrial Technologies has a 52-week low of $238.72 and a 52-week high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.08. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 earnings per share. As a group, sell-side analysts expect that Applied Industrial Technologies will post 12.00 earnings per share for the current year.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc (NYSE: AIT) is a distributor and value-added service provider of industrial motion, power transmission, fluid power, automation, and control products. Its offerings include bearings, mechanical power-transmission components, motors, gearboxes, hydraulic and pneumatic equipment, industrial hoses, process pumps, safety products, and related maintenance supplies.

The company also provides technical and engineering services designed to help customers improve equipment performance, reliability, and productivity.