Applied Industrial Technologies (NYSE:AIT) Director Peter A. Dorsman sold 3,378 shares of the business’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $54.15, for a total transaction of $182,918.70. Following the transaction, the director now owns 2,114 shares of the company’s stock, valued at approximately $114,473.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Applied Industrial Technologies (NYSE:AIT) opened at 56.45 on Wednesday. Applied Industrial Technologies has a 1-year low of $35.55 and a 1-year high of $56.65. The firm has a market cap of $2.20 billion, a P/E ratio of 67.60 and a beta of 0.85. The firm has a 50-day moving average of $47.64 and a 200 day moving average of $46.38.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, October 26th. The company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.09. Applied Industrial Technologies had a net margin of 1.30% and a return on equity of 15.18%. The business had revenue of $624.80 million for the quarter, compared to the consensus estimate of $625.57 million. During the same quarter last year, the firm posted $0.61 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts predict that Applied Industrial Technologies will post $2.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 15th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Thursday, November 10th. Applied Industrial Technologies’s dividend payout ratio is presently 134.94%.

Several institutional investors have recently modified their holdings of AIT. BlackRock Inc. increased its position in shares of Applied Industrial Technologies by 116.4% in the first quarter. BlackRock Inc. now owns 2,798 shares of the company’s stock worth $121,000 after buying an additional 1,505 shares in the last quarter. BlackRock Group LTD increased its position in shares of Applied Industrial Technologies by 6.6% in the first quarter. BlackRock Group LTD now owns 48,625 shares of the company’s stock worth $2,110,000 after buying an additional 3,004 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Applied Industrial Technologies by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 979,493 shares of the company’s stock worth $42,510,000 after buying an additional 12,883 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Applied Industrial Technologies by 241.6% in the first quarter. Goldman Sachs Group Inc. now owns 126,189 shares of the company’s stock worth $5,476,000 after buying an additional 89,246 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Applied Industrial Technologies by 59.6% in the first quarter. Wellington Management Group LLP now owns 1,257,445 shares of the company’s stock worth $54,573,000 after buying an additional 469,779 shares in the last quarter. 90.22% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts recently commented on AIT shares. Wells Fargo & Co. reiterated a “hold” rating on shares of Applied Industrial Technologies in a research note on Sunday, September 4th. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 14th. Finally, TheStreet downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th.

About Applied Industrial Technologies

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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