State Board of Administration of Florida Retirement System boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,036 shares of the industrial products company’s stock after purchasing an additional 434 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.09% of Applied Industrial Technologies worth $2,010,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Envestnet Asset Management Inc. increased its stake in Applied Industrial Technologies by 2.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock valued at $170,000 after buying an additional 64 shares during the period. Arizona State Retirement System increased its stake in Applied Industrial Technologies by 0.5% during the 2nd quarter. Arizona State Retirement System now owns 20,381 shares of the industrial products company’s stock valued at $1,203,000 after buying an additional 100 shares during the period. Neuburgh Advisers LLC increased its stake in Applied Industrial Technologies by 6.2% during the 1st quarter. Neuburgh Advisers LLC now owns 1,892 shares of the industrial products company’s stock valued at $117,000 after buying an additional 110 shares during the period. BNP Paribas Arbitrage SA increased its stake in Applied Industrial Technologies by 1.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,644 shares of the industrial products company’s stock valued at $535,000 after buying an additional 122 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in Applied Industrial Technologies by 1.5% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 8,910 shares of the industrial products company’s stock valued at $551,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 88.03% of the company’s stock.

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Several equities analysts have commented on the stock. BidaskClub cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company reissued a “market perform” rating and set a $63.00 target price (down previously from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating on the stock. Finally, ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note 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 company’s stock. The stock currently has an average rating of “Hold” and an average target price of $64.00.

In related news, VP Mark O. Eisele sold 11,854 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $55.76, for a total transaction of $660,979.04. Following the transaction, the vice president now owns 147,029 shares in the company, valued at approximately $8,198,337.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $56.92, for a total transaction of $341,520.00. Following the transaction, the vice president now owns 159,029 shares in the company, valued at approximately $9,051,930.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,571 shares of company stock worth $4,070,841. 4.40% of the stock is owned by corporate insiders.

Applied Industrial Technologies, Inc. (NYSE AIT) opened at 59.15 on Wednesday. Applied Industrial Technologies, Inc. has a 1-year low of $43.50 and a 1-year high of $69.00. The firm has a market cap of $2.31 billion, a PE ratio of 17.40 and a beta of 0.92. The firm’s 50-day moving average is $56.29 and its 200 day moving average is $59.83.

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

The business 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 annualized dividend and a yield of 1.96%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 34.12%.

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.

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

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