Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC increased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,539 shares of the industrial products company’s stock after acquiring an additional 101 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Applied Industrial Technologies were worth $323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AIT. Inspire Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the fourth quarter worth approximately $27,000. Lazard Asset Management LLC acquired a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $27,000. CI Investments Inc. acquired a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd acquired a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $35,000. Finally, Veriti Management LLC acquired a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $98,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

AIT opened at $105.08 on Monday. The firm has a market capitalization of $4.08 billion, a P/E ratio of 214.45 and a beta of 1.47. The firm’s 50 day moving average is $95.90 and its 200-day moving average is $83.83. Applied Industrial Technologies, Inc. has a 52-week low of $49.82 and a 52-week high of $107.07. The company has a quick ratio of 1.86, a current ratio of 2.74 and a debt-to-equity ratio of 0.90.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Wednesday, April 28th. The industrial products company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.36. The company had revenue of $840.90 million for the quarter, compared to analyst estimates of $811.36 million. Applied Industrial Technologies had a net margin of 0.64% and a return on equity of 16.31%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. Equities analysts expect that Applied Industrial Technologies, Inc. will post 3.44 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Friday, May 14th will be paid a $0.33 dividend. The ex-dividend date is Thursday, May 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.26%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 34.65%.

AIT has been the topic of a number of recent research reports. KeyCorp lifted their price target on shares of Applied Industrial Technologies from $98.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, March 22nd. TheStreet raised shares of Applied Industrial Technologies from a “c” rating to a “b+” rating in a research report on Thursday, April 29th. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $86.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, April 27th. Finally, Wells Fargo & Company lifted their price target on shares of Applied Industrial Technologies from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, April 5th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.83.

In related news, insider Christopher Macey sold 2,000 shares of Applied Industrial Technologies stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $100.73, for a total value of $201,460.00. Following the completion of the sale, the insider now owns 6,937 shares in the company, valued at $698,764.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Neil A. Schrimsher sold 20,664 shares of Applied Industrial Technologies stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $101.84, for a total transaction of $2,104,421.76. Following the completion of the sale, the chief executive officer now owns 247,028 shares of the company’s stock, valued at approximately $25,157,331.52. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,763 shares of company stock valued at $2,315,906. Insiders own 2.70% of the company’s stock.

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 & Flow Control.

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

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