Mountain Pacific Investment Advisers LLC Purchases 12,364 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Mountain Pacific Investment Advisers LLC boosted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 36.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,155 shares of the industrial products company’s stock after acquiring an additional 12,364 shares during the quarter. Mountain Pacific Investment Advisers LLC owned approximately 0.12% of Applied Industrial Technologies worth $11,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new position in shares of Applied Industrial Technologies during the 3rd quarter valued at $34,000. First Horizon Advisors Inc. raised its holdings in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after buying an additional 88 shares in the last quarter. Quarry LP acquired a new stake in shares of Applied Industrial Technologies in the second quarter worth about $39,000. UMB Bank n.a. boosted its stake in shares of Applied Industrial Technologies by 68.1% during the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 77 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Applied Industrial Technologies by 42.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 435 shares of the industrial products company’s stock valued at $84,000 after acquiring an additional 130 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Raymond James boosted their target price on Applied Industrial Technologies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Loop Capital upped their price objective on shares of Applied Industrial Technologies from $230.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, October 28th. StockNews.com upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, January 15th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Finally, KeyCorp boosted their price objective on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $285.71.

Applied Industrial Technologies Stock Up 0.7 %

Shares of AIT opened at $257.21 on Tuesday. 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 company has a 50-day simple moving average of $259.07 and a 200-day simple moving average of $229.87. Applied Industrial Technologies, Inc. has a 52 week low of $168.64 and a 52 week high of $282.98. The firm has a market capitalization of $9.89 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.36 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, October 24th. The industrial products company reported $2.36 EPS 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 firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the prior year, the firm posted $2.39 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts expect that Applied Industrial Technologies, Inc. will post 9.76 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, November 15th. Applied Industrial Technologies’s payout ratio is 15.10%.

Insider Activity

In other Applied Industrial Technologies news, Director Mary Dean Hall sold 2,200 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the sale, the director now directly owns 3,462 shares in the company, valued at $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the transaction, the vice president now directly owns 55,709 shares of the company’s stock, valued at approximately $15,689,882.76. The trade was a 6.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by company 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.