BNP Paribas Arbitrage SA raised its holdings in shares of Applied Industrial Technologies (NYSE:AIT) by 447.5% in the first quarter, Holdings Channel reports. The institutional investor owned 8,847 shares of the industrial products company’s stock after buying an additional 7,231 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Applied Industrial Technologies were worth $526,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Applied Industrial Technologies by 11.4% in the third quarter. JPMorgan Chase & Co. now owns 2,363,587 shares of the industrial products company’s stock worth $184,950,000 after buying an additional 241,427 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Applied Industrial Technologies by 0.8% in the third quarter. Teachers Advisors LLC now owns 364,214 shares of the industrial products company’s stock worth $28,500,000 after buying an additional 2,804 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Applied Industrial Technologies by 1.6% in the fourth quarter. State of Alaska Department of Revenue now owns 12,962 shares of the industrial products company’s stock worth $699,000 after buying an additional 210 shares during the last quarter. Alpha Windward LLC raised its holdings in shares of Applied Industrial Technologies by 4.3% in the fourth quarter. Alpha Windward LLC now owns 7,320 shares of the industrial products company’s stock worth $395,000 after buying an additional 300 shares during the last quarter. Finally, Strs Ohio raised its holdings in shares of Applied Industrial Technologies by 15.8% in the fourth quarter. Strs Ohio now owns 58,500 shares of the industrial products company’s stock worth $3,155,000 after buying an additional 8,000 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

Shares of Applied Industrial Technologies stock opened at $54.62 on Thursday. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.70 and a quick ratio of 1.61. Applied Industrial Technologies has a 1 year low of $50.56 and a 1 year high of $82.35. The firm has a market cap of $2.11 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.99 and a beta of 1.27.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Friday, April 26th. The industrial products company reported $1.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.01). Applied Industrial Technologies had a return on equity of 20.06% and a net margin of 4.14%. The business had revenue of $885.44 million for the quarter, compared to analysts’ expectations of $891.73 million. During the same period last year, the business earned $1.06 EPS. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities analysts anticipate that Applied Industrial Technologies will post 4.58 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a dividend of $0.31 per share. The ex-dividend date is Tuesday, May 14th. This represents a $1.24 annualized dividend and a dividend yield of 2.27%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 33.16%.

A number of research firms have issued reports on AIT. Zacks Investment Research cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Longbow Research raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price target for the company in a report on Friday, March 8th. Finally, Wellington Shields cut shares of Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $71.00.

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Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, 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 and Flow Control.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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