Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 16.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,806 shares of the industrial products company’s stock after buying an additional 5,840 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.11% of Applied Industrial Technologies worth $2,685,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AIT. Koch Industries Inc. grew its position in shares of Applied Industrial Technologies by 8,147.3% in the 2nd quarter. Koch Industries Inc. now owns 297,728 shares of the industrial products company’s stock worth $293,000 after buying an additional 294,118 shares during the period. Principal Financial Group Inc. grew its position in shares of Applied Industrial Technologies by 51.0% in the 2nd quarter. Principal Financial Group Inc. now owns 717,817 shares of the industrial products company’s stock worth $42,387,000 after buying an additional 242,556 shares during the period. AJO LP purchased a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth about $11,749,000. Vanguard Group Inc. grew its position in shares of Applied Industrial Technologies by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock worth $216,264,000 after buying an additional 166,858 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Applied Industrial Technologies by 248.4% in the 3rd quarter. American Century Companies Inc. now owns 182,063 shares of the industrial products company’s stock worth $11,980,000 after buying an additional 129,799 shares during the period. 88.05% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies, Inc. (NYSE:AIT) opened at $61.70 on Thursday. The stock has a market cap of $2,406.54, a PE ratio of 20.67, a P/E/G ratio of 1.62 and a beta of 0.94. Applied Industrial Technologies, Inc. has a one year low of $54.00 and a one year high of $70.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.13 and a quick ratio of 1.83.

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, topping the Zacks’ consensus estimate of $0.76 by $0.10. The company had revenue of $680.70 million for the quarter, compared to analysts’ expectations of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. Applied Industrial Technologies’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 EPS. analysts expect that Applied Industrial Technologies, Inc. will post 3.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Wednesday, November 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, November 14th. Applied Industrial Technologies’s payout ratio is 32.58%.

A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, September 12th. BidaskClub downgraded shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Finally, ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $66.00.

In related news, VP Mark O. Eisele sold 4,939 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $55.91, for a total value of $276,139.49. Following the transaction, the vice president now owns 106,090 shares in the company, valued at approximately $5,931,491.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $55.89, for a total transaction of $335,340.00. Following the completion of the transaction, the vice president now owns 111,029 shares in the company, valued at approximately $6,205,410.81. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Los Angeles Capital Management & Equity Research Inc. Acquires 5,840 Shares of Applied Industrial Technologies, Inc. (AIT)” was originally reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another website, it was copied illegally and republished in violation of U.S. and international copyright legislation. The original version of this article can be accessed at https://www.thecerbatgem.com/2017/11/23/los-angeles-capital-management-equity-research-inc-acquires-5840-shares-of-applied-industrial-technologies-inc-ait.html.

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.

Want to see what other hedge funds are holding AIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Industrial Technologies, Inc. (NYSE:AIT).

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

Receive News & Stock Ratings for Applied Industrial Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies Inc. and related stocks with our FREE daily email newsletter.