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Applied Industrial Technologies (NYSE:AIT) was upgraded by analysts at Sidoti from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, reports.

Applied Industrial Technologies (NYSE:AIT) traded up 1.21% during mid-day trading on Monday, hitting $50.08. 166,951 shares of the company’s stock traded hands. Applied Industrial Technologies has a one year low of $45.62 and a one year high of $53.57. The stock has a 50-day moving average of $47.99 and a 200-day moving average of $48.5. The company has a market cap of $2.092 billion and a P/E ratio of 18.19.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.72 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.76 by $0.04. The company had revenue of $618.00 million for the quarter, compared to the consensus estimate of $217.25 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Applied Industrial Technologies will post $2.67 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend is Wednesday, August 13th.

Applied Industrial Technologies, Inc (NYSE:AIT) is an industrial distributor in North America, supplying customers in a range of industries with products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and general maintenance and mill supply products.

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