Applied Industrial Technologies (NYSE:AIT) – Stock analysts at Northcoast Research raised their Q3 2018 EPS estimates for Applied Industrial Technologies in a research report issued to clients and investors on Friday. Northcoast Research analyst R. Cieslak now expects that the industrial products company will post earnings of $0.91 per share for the quarter, up from their prior forecast of $0.89. Northcoast Research also issued estimates for Applied Industrial Technologies’ FY2018 earnings at $3.45 EPS.
Several other research firms have also recently weighed in on AIT. Zacks Investment Research cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Wellington Shields upgraded Applied Industrial Technologies to a “hold” rating in a research report on Tuesday, January 2nd. Finally, ValuEngine cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $71.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $5,626,000. APG Asset Management N.V. grew its holdings in shares of Applied Industrial Technologies by 25.5% during the 4th quarter. APG Asset Management N.V. now owns 41,400 shares of the industrial products company’s stock worth $2,348,000 after purchasing an additional 8,400 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth $1,859,000. Schwab Charles Investment Management Inc. grew its holdings in shares of Applied Industrial Technologies by 1.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 347,092 shares of the industrial products company’s stock worth $23,637,000 after purchasing an additional 3,527 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Applied Industrial Technologies by 5.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,700 shares of the industrial products company’s stock worth $1,137,000 after purchasing an additional 900 shares in the last quarter. 87.94% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Shareholders of record on Thursday, February 15th will be given a dividend of $0.30 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.20 annualized dividend and a yield of 1.61%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 31.02%.
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Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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