Alliancebernstein L.P. increased its position in shares of Applied Industrial Technologies (NYSE:AIT) by 8.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 119,137 shares of the industrial products company’s stock after buying an additional 9,759 shares during the quarter. Alliancebernstein L.P. owned about 0.31% of Applied Industrial Technologies worth $8,113,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in AIT. Nationwide Fund Advisors grew its stake in Applied Industrial Technologies by 62.3% during the 3rd quarter. Nationwide Fund Advisors now owns 39,696 shares of the industrial products company’s stock worth $2,612,000 after buying an additional 15,232 shares during the last quarter. First Trust Advisors LP grew its stake in Applied Industrial Technologies by 280.1% during the 3rd quarter. First Trust Advisors LP now owns 19,004 shares of the industrial products company’s stock worth $1,250,000 after buying an additional 14,004 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Applied Industrial Technologies by 45.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,835 shares of the industrial products company’s stock worth $1,371,000 after buying an additional 6,475 shares during the last quarter. Rhumbline Advisers grew its stake in Applied Industrial Technologies by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 82,636 shares of the industrial products company’s stock worth $5,437,000 after buying an additional 1,695 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Applied Industrial Technologies by 304.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 25,852 shares of the industrial products company’s stock worth $1,701,000 after buying an additional 19,459 shares during the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.
Shares of Applied Industrial Technologies (NYSE AIT) opened at $70.10 on Monday. Applied Industrial Technologies has a 1 year low of $54.00 and a 1 year high of $75.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.90 and a current ratio of 3.33. The firm has a market capitalization of $2,711.12, a P/E ratio of 18.74, a price-to-earnings-growth ratio of 1.69 and a beta of 0.97.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.71%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Wednesday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 32.09%.
A number of analysts have weighed in on the company. ValuEngine raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Finally, Wellington Shields raised Applied Industrial Technologies to a “hold” rating in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $71.00.
In other news, VP Todd A. Barlett sold 3,800 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $75.00, for a total value of $285,000.00. Following the completion of the sale, the vice president now directly owns 90,155 shares of the company’s stock, valued at approximately $6,761,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, the director now directly owns 24,230 shares of the company’s stock, valued at $1,802,954.30. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
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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.
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