CWM Advisors LLC Increases Position in Applied Industrial Technologies (NYSE:AIT)

CWM Advisors LLC lifted its holdings in Applied Industrial Technologies (NYSE:AIT) by 77.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,830 shares of the industrial products company’s stock after purchasing an additional 2,552 shares during the period. CWM Advisors LLC’s holdings in Applied Industrial Technologies were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $34,000. Great Diamond Partners LLC purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $39,000. Citizens Financial Group Inc RI purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $45,000. Lighthouse Financial Advisors Inc. purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $80,000. Finally, First Mercantile Trust Co. purchased a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $104,000. Hedge funds and other institutional investors own 91.07% of the company’s stock.

AIT has been the subject of several recent analyst reports. TheStreet cut Applied Industrial Technologies from a “b” rating to a “c+” rating in a report on Friday, March 13th. Wells Fargo & Co upgraded Applied Industrial Technologies to a “buy” rating in a report on Friday, March 13th. KeyCorp lowered their price objective on Applied Industrial Technologies from $75.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. Finally, ValuEngine upgraded Applied Industrial Technologies from a “sell” rating to a “hold” rating in a report on Friday, March 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $71.40.

In related news, CEO Neil A. Schrimsher bought 4,200 shares of the stock in a transaction dated Monday, May 4th. The shares were acquired at an average cost of $47.81 per share, for a total transaction of $200,802.00. Following the acquisition, the chief executive officer now directly owns 172,698 shares in the company, valued at approximately $8,256,691.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Shares of Applied Industrial Technologies stock opened at $55.20 on Friday. The stock has a market cap of $2.12 billion, a P/E ratio of 64.49 and a beta of 1.36. The stock’s 50 day simple moving average is $49.37 and its 200-day simple moving average is $58.57. Applied Industrial Technologies has a 1-year low of $30.66 and a 1-year high of $70.62. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.60 and a quick ratio of 1.66.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, April 30th. The industrial products company reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.01. The business had revenue of $830.80 million for the quarter, compared to analysts’ expectations of $858.94 million. Applied Industrial Technologies had a return on equity of 17.40% and a net margin of 0.99%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.16 EPS. As a group, research analysts expect that Applied Industrial Technologies will post 3.69 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, May 14th. Applied Industrial Technologies’s dividend payout ratio is currently 29.02%.

Applied Industrial Technologies 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.

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

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