Applied Industrial Technologies (AIT) Director Sells $53,830.48 in Stock

Applied Industrial Technologies (NYSE:AIT) Director Peter C. Wallace sold 737 shares of the company’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $73.04, for a total value of $53,830.48. Following the completion of the sale, the director now owns 22,374 shares in the company, valued at approximately $1,634,196.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Applied Industrial Technologies traded up $0.05, reaching $73.85, during trading hours on Tuesday, according to Marketbeat. The stock had a trading volume of 2,554 shares, compared to its average volume of 218,028. The firm has a market cap of $2.81 billion, a P/E ratio of 25.99, a P/E/G ratio of 1.64 and a beta of 0.94. Applied Industrial Technologies has a 52-week low of $54.00 and a 52-week high of $75.40. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 1.26.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, April 26th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. Applied Industrial Technologies had a return on equity of 17.52% and a net margin of 5.40%. The company had revenue of $827.67 million during the quarter, compared to the consensus estimate of $803.23 million. During the same period in the previous year, the company posted $0.75 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up 21.8% on a year-over-year basis. research analysts expect that Applied Industrial Technologies will post 3.69 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 31st. Shareholders of record on Tuesday, May 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Monday, May 14th. Applied Industrial Technologies’s payout ratio is presently 42.25%.

A number of large investors have recently made changes to their positions in AIT. Schwab Charles Investment Management Inc. lifted its holdings in Applied Industrial Technologies by 1.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 347,092 shares of the industrial products company’s stock valued at $23,637,000 after acquiring an additional 3,527 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Applied Industrial Technologies by 39.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,600 shares of the industrial products company’s stock valued at $177,000 after acquiring an additional 730 shares during the period. Aperio Group LLC lifted its holdings in Applied Industrial Technologies by 15.7% in the fourth quarter. Aperio Group LLC now owns 12,954 shares of the industrial products company’s stock valued at $882,000 after acquiring an additional 1,761 shares during the period. CIBC Asset Management Inc acquired a new position in Applied Industrial Technologies in the fourth quarter valued at approximately $337,000. Finally, Teacher Retirement System of Texas lifted its holdings in Applied Industrial Technologies by 314.4% in the fourth quarter. Teacher Retirement System of Texas now owns 13,367 shares of the industrial products company’s stock valued at $910,000 after acquiring an additional 10,141 shares during the period. 88.22% of the stock is owned by institutional investors.

A number of brokerages recently commented on AIT. Zacks Investment Research lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, March 28th. ValuEngine upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a strong buy rating to the company’s stock. Applied Industrial Technologies currently has an average rating of “Hold” and a consensus target price of $68.50.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in the United States, Puerto Rico, Canada, Mexico, 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 Businesses.

Insider Buying and Selling by Quarter for Applied Industrial Technologies (NYSE:AIT)

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