American International Group Inc. Grows Stake in Applied Industrial Technologies, Inc. (AIT)

American International Group Inc. lifted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,430 shares of the industrial products company’s stock after buying an additional 1,647 shares during the period. American International Group Inc. owned approximately 0.08% of Applied Industrial Technologies worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC lifted its position 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 in the last quarter. Ameritas Investment Partners Inc. lifted its position in shares of Applied Industrial Technologies by 7.2% in the second quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock valued at $199,000 after acquiring an additional 226 shares in the last quarter. Paradigm Asset Management Co. LLC lifted its position in shares of Applied Industrial Technologies by 59.1% in 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 acquiring an additional 1,300 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at about $212,000. Finally, Pacad Investment Ltd. lifted its position in shares of Applied Industrial Technologies by 28.6% in the second quarter. Pacad Investment Ltd. now owns 3,600 shares of the industrial products company’s stock valued at $213,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Applied Industrial Technologies, Inc. (NYSE AIT) opened at $63.60 on Monday. The company has a market capitalization of $2,468.65, a P/E ratio of 21.20, a PEG ratio of 1.66 and a beta of 0.93. Applied Industrial Technologies, Inc. has a 52 week low of $54.00 and a 52 week high of $70.05. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 3.13.

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

The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.82%. Applied Industrial Technologies’s dividend payout ratio is currently 32.58%.

AIT has been the topic of several research analyst reports. Zacks Investment Research downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. ValuEngine raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $67.00.

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

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