American Century Companies Inc. raised its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,264 shares of the industrial products company’s stock after purchasing an additional 3,730 shares during the period. American Century Companies Inc. owned 0.13% of Applied Industrial Technologies worth $3,086,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its holdings in shares of Applied Industrial Technologies by 1.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 34,036 shares of the industrial products company’s stock valued at $2,010,000 after purchasing an additional 434 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at about $687,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Applied Industrial Technologies by 66.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,360 shares of the industrial products company’s stock valued at $848,000 after acquiring an additional 5,716 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Applied Industrial Technologies by 9.6% in the 2nd quarter. Legal & General Group Plc now owns 74,955 shares of the industrial products company’s stock valued at $4,425,000 after acquiring an additional 6,551 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at about $2,269,000. 88.03% of the stock is owned by institutional investors and hedge funds.

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A number of brokerages recently commented on AIT. BidaskClub downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $63.00 price target (down previously from $67.00) on shares of Applied Industrial Technologies in a report on Wednesday, July 12th. Northcoast Research began coverage on shares of Applied Industrial Technologies in a report on Tuesday, July 25th. They issued a “neutral” rating for the company. Finally, ValuEngine raised shares of 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 given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $64.00.

Applied Industrial Technologies, Inc. (NYSE:AIT) opened at 59.15 on Wednesday. The company has a market cap of $2.31 billion, a P/E ratio of 17.40 and a beta of 0.92. The company has a 50 day moving average of $56.29 and a 200-day moving average of $59.83. Applied Industrial Technologies, Inc. has a one year low of $43.50 and a one year high of $69.00.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.56. The firm had revenue of $681.47 million for the quarter, compared to analyst estimates of $680.20 million. Applied Industrial Technologies had a net margin of 5.16% and a return on equity of 15.89%. Applied Industrial Technologies’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. On average, equities analysts expect that Applied Industrial Technologies, Inc. will post $3.10 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.16 dividend on an annualized basis and a yield of 1.96%. Applied Industrial Technologies’s payout ratio is presently 34.12%.

In related news, VP Mark O. Eisele sold 6,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $56.11, for a total transaction of $336,660.00. Following the transaction, the vice president now directly owns 153,029 shares in the company, valued at $8,586,457.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark O. Eisele sold 4,939 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $55.91, for a total transaction of $276,139.49. Following the transaction, the vice president now owns 106,090 shares in the company, valued at $5,931,491.90. The disclosure for this sale can be found here. Insiders have sold 73,571 shares of company stock worth $4,070,841 over the last 90 days. 4.40% of the stock is currently owned by company insiders.

Applied Industrial Technologies Company 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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