361 Capital LLC Buys New Position in Applied Industrial Technologies, Inc. (AIT)

361 Capital LLC bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 30,488 shares of the industrial products company’s stock, valued at approximately $2,006,000. 361 Capital LLC owned about 0.08% of Applied Industrial Technologies at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in Applied Industrial Technologies during the third quarter valued at $212,000. Riverhead Capital Management LLC increased its stake in Applied Industrial Technologies by 57.0% during the second quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock valued at $195,000 after purchasing an additional 1,198 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Applied Industrial Technologies by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 226 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in Applied Industrial Technologies during the third quarter valued at $223,000. Finally, Paradigm Asset Management Co. LLC increased its stake in Applied Industrial Technologies by 59.1% during the second quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the industrial products company’s stock valued at $207,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 88.01% of the company’s stock.

Applied Industrial Technologies, Inc. (AIT) traded up $0.25 during trading on Friday, hitting $61.75. 186,249 shares of the stock traded hands, compared to its average volume of 215,859. The company has a market capitalization of $2,396.83, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.61 and a beta of 0.94. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37. Applied Industrial Technologies, Inc. has a fifty-two week low of $54.00 and a fifty-two week high of $70.05.

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

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

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In other news, VP Mark O. Eisele sold 4,939 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $55.91, for a total transaction of $276,139.49. Following the completion of the transaction, the vice president now owns 106,090 shares in the company, valued at $5,931,491.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Mark O. Eisele sold 8,926 shares of the company’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $54.42, for a total transaction of $485,752.92. Following the transaction, the vice president now owns 135,029 shares of the company’s stock, valued at approximately $7,348,278.18. The disclosure for this sale can be found here. Insiders have sold 40,791 shares of company stock valued at $2,244,769 in the last 90 days. Insiders own 3.70% of the company’s stock.

Several research firms have weighed in on AIT. BidaskClub lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, November 14th. Northcoast Research began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating for the company. Finally, Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday, September 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Applied Industrial Technologies presently 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.

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

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