Chartwell Investment Partners LLC Purchases 85 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Chartwell Investment Partners LLC grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,602 shares of the industrial products company’s stock after acquiring an additional 85 shares during the period. Chartwell Investment Partners LLC’s holdings in Applied Industrial Technologies were worth $2,365,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of AIT. EntryPoint Capital LLC acquired a new stake in shares of Applied Industrial Technologies during the 1st quarter worth about $25,000. Headlands Technologies LLC acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth about $34,000. Finally, Quarry LP acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth about $39,000. Institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

AIT has been the subject of a number of research reports. Mizuho initiated coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price for the company. KeyCorp lifted their price objective on shares of Applied Industrial Technologies from $245.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Raymond James lifted their price objective on shares of Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Loop Capital lifted their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Robert W. Baird lifted their price objective on shares of Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $261.43.

Applied Industrial Technologies Trading Down 0.5 %

Shares of AIT opened at $273.80 on Wednesday. Applied Industrial Technologies, Inc. has a 52-week low of $155.47 and a 52-week high of $276.15. The business’s fifty day moving average is $224.22 and its 200-day moving average is $205.94. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The firm has a market cap of $10.53 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 3.69 and a beta of 1.03.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the business posted $2.39 EPS. Applied Industrial Technologies’s revenue for the quarter was up .3% on a year-over-year basis. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.74 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.10%.

Insider Activity at Applied Industrial Technologies

In related news, VP Kurt W. Loring sold 4,858 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at $3,922,876.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 4,858 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $203.10, for a total transaction of $986,659.80. Following the transaction, the vice president now directly owns 19,315 shares of the company’s stock, valued at approximately $3,922,876.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kurt W. Loring sold 3,366 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the transaction, the vice president now directly owns 19,315 shares in the company, valued at $4,037,221.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,927 shares of company stock valued at $2,439,116 in the last 90 days. 1.67% of the stock is owned by corporate insiders.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.