Applied Industrial Technologies, Inc. (AIT) To Go Ex-Dividend on August 14th

Applied Industrial Technologies, Inc. (NYSE:AIT) announced a quarterly dividend on Monday, June 22nd. Investors of record on Friday, August 14th will be given a dividend of 0.51 per share by the industrial products company on Monday, August 31st. This represents a c) annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th.

Applied Industrial Technologies has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 16 years. Applied Industrial Technologies has a dividend payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Applied Industrial Technologies to earn $11.80 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 17.3%.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $353.71 on Wednesday. The company has a fifty day moving average price of $334.46 and a 200 day moving average price of $301.87. The firm has a market cap of $13.07 billion, a PE ratio of 33.40, a PEG ratio of 3.08 and a beta of 0.84. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. Applied Industrial Technologies has a 1-year low of $238.34 and a 1-year high of $363.59.

About Applied Industrial Technologies

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.