Zebra Capital Management LLC Sells 717 Shares of Applied Industrial Technologies (NYSE:AIT)

Zebra Capital Management LLC decreased its holdings in Applied Industrial Technologies (NYSE:AIT) by 4.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,286 shares of the industrial products company’s stock after selling 717 shares during the quarter. Zebra Capital Management LLC’s holdings in Applied Industrial Technologies were worth $879,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AIT. FinTrust Capital Advisors LLC grew its stake in shares of Applied Industrial Technologies by 174.8% in the first quarter. FinTrust Capital Advisors LLC now owns 437 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 278 shares during the last quarter. Parallel Advisors LLC acquired a new position in Applied Industrial Technologies in the second quarter valued at $32,000. Rockefeller Capital Management L.P. lifted its holdings in Applied Industrial Technologies by 124.2% in the second quarter. Rockefeller Capital Management L.P. now owns 621 shares of the industrial products company’s stock valued at $38,000 after buying an additional 344 shares during the period. Quantamental Technologies LLC lifted its holdings in Applied Industrial Technologies by 23.5% in the second quarter. Quantamental Technologies LLC now owns 2,099 shares of the industrial products company’s stock valued at $129,000 after buying an additional 400 shares during the period. Finally, Zions Bancorporation N.A. lifted its holdings in Applied Industrial Technologies by 15.1% in the first quarter. Zions Bancorporation N.A. now owns 3,176 shares of the industrial products company’s stock valued at $189,000 after buying an additional 416 shares during the period. 88.86% of the stock is currently owned by institutional investors.

Shares of NYSE AIT traded down $1.31 during trading on Wednesday, hitting $55.08. 5,043 shares of the company traded hands, compared to its average volume of 255,512. The business’s fifty day moving average is $54.75 and its 200 day moving average is $57.60. Applied Industrial Technologies has a fifty-two week low of $49.45 and a fifty-two week high of $82.35. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.44 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.65 and a current ratio of 2.71.



Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Wednesday, August 14th. The industrial products company reported $1.02 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.17). Applied Industrial Technologies had a net margin of 4.15% and a return on equity of 19.53%. The company had revenue of $882.70 million for the quarter, compared to analyst estimates of $919.72 million. During the same quarter in the prior year, the company posted $1.03 EPS. Applied Industrial Technologies’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts predict that Applied Industrial Technologies will post 4.4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.31 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.24 annualized dividend and a dividend yield of 2.25%. Applied Industrial Technologies’s dividend payout ratio is currently 28.12%.

In other news, Director Jerry Sue Thornton sold 16,031 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $53.45, for a total transaction of $856,856.95. Following the transaction, the director now owns 55,003 shares in the company, valued at $2,939,910.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by corporate insiders.

AIT has been the topic of several research reports. ValuEngine lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. KeyCorp reiterated an “overweight” rating and set a $65.00 price objective (down previously from $70.00) on shares of Applied Industrial Technologies in a report on Thursday, August 15th. Finally, Wells Fargo & Co dropped their price objective on shares of Applied Industrial Technologies from $60.00 to $55.00 and set a “market perform” rating on the stock in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Applied Industrial Technologies has a consensus rating of “Hold” and an average target price of $63.33.

About Applied Industrial Technologies

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.

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

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