Fiduciary Management Inc. WI decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 731,023 shares of the industrial products company’s stock after selling 6,181 shares during the quarter. Fiduciary Management Inc. WI owned 1.87% of Applied Industrial Technologies worth $43,167,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIT. BlackRock Inc. grew its stake in shares of Applied Industrial Technologies by 84,093.2% during the 1st quarter. BlackRock Inc. now owns 5,566,855 shares of the industrial products company’s stock worth $344,310,000 after purchasing an additional 5,560,243 shares during the period. Principal Financial Group Inc. grew its stake in shares of Applied Industrial Technologies by 51.0% during the 2nd quarter. Principal Financial Group Inc. now owns 717,817 shares of the industrial products company’s stock worth $42,387,000 after purchasing an additional 242,556 shares during the period. AJO LP acquired a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $11,749,000. Prudential Financial Inc. grew its stake in shares of Applied Industrial Technologies by 81.4% during the 1st quarter. Prudential Financial Inc. now owns 421,168 shares of the industrial products company’s stock worth $26,049,000 after purchasing an additional 188,930 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Applied Industrial Technologies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 3,495,544 shares of the industrial products company’s stock worth $216,199,000 after purchasing an additional 174,201 shares during the period. 88.03% of the stock is currently owned by institutional investors and hedge funds.

In other Applied Industrial Technologies news, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $56.11, for a total value of $336,660.00. Following the sale, the vice president now owns 153,029 shares of the company’s stock, valued at $8,586,457.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark O. Eisele sold 11,854 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $55.76, for a total value of $660,979.04. Following the completion of the sale, the vice president now directly owns 147,029 shares in the company, valued at approximately $8,198,337.04. The disclosure for this sale can be found here. Insiders sold 73,571 shares of company stock valued at $4,070,841 in the last quarter. 4.40% of the stock is currently owned by company insiders.

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AIT has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 6th. BidaskClub cut shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 23rd. Finally, Northcoast Research began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Applied Industrial Technologies presently has an average rating of “Hold” and a consensus target price of $64.50.

Applied Industrial Technologies, Inc. (AIT) traded up 1.60% during midday trading on Friday, reaching $60.25. 328,039 shares of the company were exchanged. The company has a 50 day moving average of $56.58 and a 200-day moving average of $59.78. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 17.72 and a beta of 0.92. Applied Industrial Technologies, Inc. has a 52-week low of $43.50 and a 52-week high of $69.00.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Friday, August 11th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.56. The firm had revenue of $681.47 million during the quarter, compared to analysts’ expectations of $680.20 million. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. Applied Industrial Technologies’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.66 earnings per share. On average, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post $3.10 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend was Friday, August 11th. Applied Industrial Technologies’s payout ratio is 34.12%.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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

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