Mondrian Investment Partners LTD maintained its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, Holdings Channel reports. The fund owned 22,986 shares of the industrial products company’s stock at the end of the second quarter. Mondrian Investment Partners LTD’s holdings in Applied Industrial Technologies were worth $1,357,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Neuburgh Advisers LLC raised its position in shares of Applied Industrial Technologies by 6.2% in the first quarter. Neuburgh Advisers LLC now owns 1,892 shares of the industrial products company’s stock valued at $117,000 after buying an additional 110 shares in the last quarter. Tyers Asset Management LLC raised its position in shares of Applied Industrial Technologies by 6.2% in the first quarter. Tyers Asset Management LLC now owns 2,408 shares of the industrial products company’s stock valued at $149,000 after buying an additional 140 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Applied Industrial Technologies by 2.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock valued at $170,000 after buying an additional 64 shares in the last quarter. Flinton Capital Management LLC raised its position in shares of Applied Industrial Technologies by 6.2% in the first quarter. Flinton Capital Management LLC now owns 2,924 shares of the industrial products company’s stock valued at $181,000 after buying an additional 170 shares in the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Applied Industrial Technologies during the first quarter valued at approximately $194,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Applied Industrial Technologies, Inc. (AIT) opened at 55.45 on Friday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 20.36 and a beta of 0.95. The firm has a 50-day moving average price of $57.53 and a 200 day moving average price of $60.68. Applied Industrial Technologies, Inc. has a 1-year low of $43.50 and a 1-year high of $69.00.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, August 10th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.56. The company had revenue of $681.47 million for the quarter, compared to analyst estimates of $680.20 million. Applied Industrial Technologies had a return on equity of 15.70% and a net margin of 4.20%. Applied Industrial Technologies’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.66 EPS. On average, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post $2.83 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, August 11th. Applied Industrial Technologies’s dividend payout ratio is currently 42.65%.

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Several brokerages have recently commented on AIT. BidaskClub lowered Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Northcoast Research began coverage on Applied Industrial Technologies in a research note on Tuesday, July 25th. They set a “neutral” rating on the stock. Wells Fargo & Company restated a “market perform” rating and set a $63.00 price target (down previously from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. Finally, Zacks Investment Research lowered Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $65.50.

Applied Industrial Technologies Company 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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