Legal & General Group Plc grew its position in shares of Applied Industrial Technologies (NYSE:AIT) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,172 shares of the industrial products company’s stock after purchasing an additional 4,988 shares during the period. Legal & General Group Plc owned approximately 0.21% of Applied Industrial Technologies worth $6,026,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in AIT. Bruderman Asset Management LLC acquired a new position in Applied Industrial Technologies during the first quarter worth $160,000. LPL Financial LLC acquired a new position in Applied Industrial Technologies during the fourth quarter worth $212,000. Premia Global Advisors LLC acquired a new position in Applied Industrial Technologies during the first quarter worth $232,000. Natixis acquired a new position in Applied Industrial Technologies during the first quarter worth $240,000. Finally, SG Americas Securities LLC acquired a new position in Applied Industrial Technologies during the first quarter worth $261,000. Institutional investors own 88.20% of the company’s stock.
AIT has been the topic of a number of research reports. Zacks Investment Research cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. ValuEngine cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Friday, April 27th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $68.50.
Applied Industrial Technologies opened at $73.20 on Wednesday, MarketBeat.com reports. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.67 and a current ratio of 2.84. Applied Industrial Technologies has a 52 week low of $54.00 and a 52 week high of $76.20. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.29 and a beta of 0.95.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, April 26th. The industrial products company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.11. The business had revenue of $827.67 million for the quarter, compared to analysts’ expectations of $803.23 million. Applied Industrial Technologies had a return on equity of 17.52% and a net margin of 5.40%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. analysts anticipate that Applied Industrial Technologies will post 3.69 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 31st. Stockholders of record on Wednesday, August 15th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Tuesday, August 14th. Applied Industrial Technologies’s payout ratio is currently 42.25%.
In other news, Director Peter C. Wallace sold 737 shares of the stock in a transaction on Monday, June 11th. The stock was sold at an average price of $73.04, for a total value of $53,830.48. Following the sale, the director now directly owns 22,374 shares in the company, valued at $1,634,196.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joe Anthony Raver acquired 1,585 shares of Applied Industrial Technologies stock in a transaction dated Tuesday, May 1st. The stock was bought at an average price of $63.20 per share, for a total transaction of $100,172.00. Following the completion of the purchase, the director now owns 3,982 shares of the company’s stock, valued at approximately $251,662.40. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.
Applied Industrial Technologies 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.
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