Martingale Asset Management L P maintained its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,108 shares of the industrial products company’s stock at the end of the 2nd quarter. Martingale Asset Management L P owned about 0.24% of Applied Industrial Technologies worth $5,617,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Koch Industries Inc. acquired a new stake in Applied Industrial Technologies during the first quarter worth about $223,000. JPMorgan Chase & Co. grew its holdings in Applied Industrial Technologies by 3.7% during the first quarter. JPMorgan Chase & Co. now owns 1,913,244 shares of the industrial products company’s stock worth $118,335,000 after acquiring an additional 68,130 shares during the period. Mason Street Advisors LLC grew its holdings in Applied Industrial Technologies by 7.0% during the first quarter. Mason Street Advisors LLC now owns 9,117 shares of the industrial products company’s stock worth $564,000 after acquiring an additional 593 shares during the period. South Dakota Investment Council grew its holdings in Applied Industrial Technologies by 12.3% during the first quarter. South Dakota Investment Council now owns 9,100 shares of the industrial products company’s stock worth $563,000 after acquiring an additional 1,000 shares during the period. Finally, Prudential Financial Inc. grew its holdings in Applied Industrial Technologies by 81.4% during the first quarter. Prudential Financial Inc. now owns 421,168 shares of the industrial products company’s stock worth $26,049,000 after acquiring an additional 188,930 shares during the period. 88.03% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Mark O. Eisele sold 6,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were 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 of the company’s stock, valued at $9,051,930.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark O. Eisele sold 11,854 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $55.76, for a total transaction of $660,979.04. Following the transaction, the vice president now directly owns 147,029 shares in the company, valued at approximately $8,198,337.04. The disclosure for this sale can be found here. Insiders have sold 73,571 shares of company stock worth $4,070,841 in the last ninety days. Corporate insiders own 4.40% of the company’s stock.

AIT has been the topic of a number of recent analyst reports. BidaskClub upgraded Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Zacks Investment Research downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 6th. Finally, Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Tuesday, July 25th. They set a “neutral” rating on the stock. 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 has an average rating of “Hold” and a consensus price target of $64.00.

Shares of Applied Industrial Technologies, Inc. (NYSE AIT) opened at 59.55 on Thursday. Applied Industrial Technologies, Inc. has a 12-month low of $43.50 and a 12-month high of $69.00. The stock has a 50 day moving average price of $56.35 and a 200 day moving average price of $59.81. The stock has a market capitalization of $2.33 billion, a P/E ratio of 17.51 and a beta of 0.92.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 EPS for the quarter, topping the consensus estimate of $0.78 by $0.56. Applied Industrial Technologies had a net margin of 5.16% and a return on equity of 15.89%. The business had revenue of $681.47 million for the quarter, compared to analysts’ expectations of $680.20 million. During the same quarter last year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities analysts anticipate 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. Stockholders of record on Tuesday, August 15th were given a dividend of $0.29 per share. The ex-dividend date was Friday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 1.95%. Applied Industrial Technologies’s payout ratio is 34.12%.

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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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