Ifrah Financial Services Inc. bought a new stake in Applied Industrial Technologies (NYSE:AIT) during the third quarter, HoldingsChannel reports. The fund bought 2,736 shares of the industrial products company’s stock, valued at approximately $214,000.

Other hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd raised its holdings in shares of Applied Industrial Technologies by 475.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 1,716 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,418 shares during the period. Itau Unibanco Holding S.A. acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at about $142,000. Paloma Partners Management Co acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at about $248,000. Tower Research Capital LLC TRC grew its stake in Applied Industrial Technologies by 246.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,918 shares of the industrial products company’s stock valued at $275,000 after buying an additional 2,786 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Applied Industrial Technologies in the 2nd quarter valued at about $283,000. 89.36% of the stock is currently owned by institutional investors.

In related news, Director L Thomas Hiltz sold 12,500 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $77.15, for a total value of $964,375.00. Following the transaction, the director now owns 1,544 shares in the company, valued at approximately $119,119.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

A number of brokerages recently commented on AIT. ValuEngine upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Northcoast Research reiterated a “neutral” rating on shares of Applied Industrial Technologies in a research note on Friday, August 10th. Wellington Shields upgraded shares of Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a research note on Monday, August 13th. Finally, Wells Fargo & Co upped their price target on shares of Applied Industrial Technologies from $73.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, August 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Applied Industrial Technologies presently has an average rating of “Hold” and an average target price of $79.00.

Shares of AIT opened at $69.93 on Thursday. Applied Industrial Technologies has a 52 week low of $59.65 and a 52 week high of $82.35. The stock has a market capitalization of $2.60 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.17 and a beta of 1.12. The company has a current ratio of 2.76, a quick ratio of 1.67 and a debt-to-equity ratio of 1.09.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.12. Applied Industrial Technologies had a net margin of 4.82% and a return on equity of 19.66%. The business had revenue of $864.50 million for the quarter, compared to analyst estimates of $874.74 million. During the same quarter in the prior year, the business earned $0.86 EPS. Applied Industrial Technologies’s quarterly revenue was up 27.0% on a year-over-year basis. Equities analysts expect that Applied Industrial Technologies will post 4.8 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.72%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 32.09%.

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Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

Further Reading: Retained Earnings

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

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