Applied Industrial Technologies, Inc. (NYSE:AIT) Position Raised by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 984,997 shares of the industrial products company’s stock after acquiring an additional 57,789 shares during the quarter. Victory Capital Management Inc. owned 2.52% of Applied Industrial Technologies worth $64,813,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new position in Applied Industrial Technologies in the 3rd quarter worth about $492,000. First Trust Advisors LP increased its stake in Applied Industrial Technologies by 280.1% in 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 period. Nationwide Fund Advisors increased its stake in Applied Industrial Technologies by 62.3% in 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 period. APG Asset Management N.V. purchased a new position in Applied Industrial Technologies during the 3rd quarter valued at about $2,171,000. Finally, Alpha Windward LLC increased its position in Applied Industrial Technologies by 14.4% during the 3rd quarter. Alpha Windward LLC now owns 8,580 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 1,080 shares during the period. Hedge funds and other institutional investors own 88.01% of the company’s stock.

In other news, VP Mark O. Eisele sold 8,926 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $54.42, for a total transaction of $485,752.92. Following the completion of the transaction, the vice president now directly owns 135,029 shares of the company’s stock, valued at approximately $7,348,278.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Mark O. Eisele sold 4,939 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $55.91, for a total transaction of $276,139.49. Following the transaction, the vice president now directly owns 106,090 shares of the company’s stock, valued at $5,931,491.90. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,571 shares of company stock valued at $4,070,841. Company insiders own 3.70% of the company’s stock.

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Shares of Applied Industrial Technologies, Inc. (NYSE AIT) opened at $61.60 on Monday. The company has a market cap of $2,391.02, a P/E ratio of 20.53, a P/E/G ratio of 1.61 and a beta of 0.94. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.13 and a quick ratio of 1.83. Applied Industrial Technologies, Inc. has a 12 month low of $53.95 and a 12 month high of $70.05.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. The company had revenue of $680.70 million during the quarter, compared to analysts’ expectations of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. Applied Industrial Technologies’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. analysts anticipate that Applied Industrial Technologies, Inc. will post 3.19 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, November 14th. Applied Industrial Technologies’s payout ratio is 32.58%.

A number of research firms have commented on AIT. BidaskClub downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Northcoast Research began coverage on shares of Applied Industrial Technologies in a research report on Tuesday, July 25th. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Thursday, September 14th. Finally, ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $66.00.

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.

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

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