Applied Industrial Technologies (AIT) Expected to Post Quarterly Sales of $880.30 Million
Brokerages forecast that Applied Industrial Technologies (NYSE:AIT) will report sales of $880.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Applied Industrial Technologies’ earnings. The lowest sales estimate is $858.50 million and the highest is $902.10 million. Applied Industrial Technologies reported sales of $681.47 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 29.2%. The firm is expected to issue its next quarterly earnings results on Friday, August 10th.
According to Zacks, analysts expect that Applied Industrial Technologies will report full year sales of $3.07 billion for the current year, with estimates ranging from $3.06 billion to $3.08 billion. For the next financial year, analysts expect that the business will report sales of $3.56 billion per share, with estimates ranging from $3.54 billion to $3.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Applied Industrial Technologies.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Thursday, April 26th. The industrial products company reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.11. Applied Industrial Technologies had a net margin of 5.40% and a return on equity of 17.52%. The business had revenue of $827.67 million for the quarter, compared to analyst estimates of $803.23 million. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis.
In other news, Director Peter C. Wallace sold 737 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $73.04, for a total value of $53,830.48. Following the transaction, the director now directly owns 22,374 shares of the company’s stock, valued at $1,634,196.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Wallace sold 3,700 shares of the stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $73.04, for a total transaction of $270,248.00. Following the completion of the transaction, the director now directly owns 25,337 shares in the company, valued at $1,850,614.48. The disclosure for this sale can be found here. 3.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Bruderman Asset Management LLC bought a new position in shares of Applied Industrial Technologies in the first quarter valued at about $160,000. LPL Financial LLC bought a new position in shares of Applied Industrial Technologies in the fourth quarter valued at about $212,000. Premia Global Advisors LLC bought a new position in shares of Applied Industrial Technologies in the first quarter valued at about $232,000. Natixis bought a new position in shares of Applied Industrial Technologies in the first quarter valued at about $240,000. Finally, SG Americas Securities LLC bought a new position in shares of Applied Industrial Technologies in the first quarter valued at about $261,000. 88.20% of the stock is currently owned by institutional investors.
Applied Industrial Technologies opened at $71.20 on Thursday, according to Marketbeat. 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 1 year low of $54.00 and a 1 year high of $76.20. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 1.64 and a beta of 0.94.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Wednesday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Tuesday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 42.25%.
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.
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