Systematic Financial Management LP Sells 1,510 Shares of Applied Industrial Technologies, Inc. (AIT)
Systematic Financial Management LP cut its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,915 shares of the industrial products company’s stock after selling 1,510 shares during the quarter. Systematic Financial Management LP owned approximately 0.07% of Applied Industrial Technologies worth $1,705,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in AIT. Riverhead Capital Management LLC grew its position in Applied Industrial Technologies by 57.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,298 shares of the industrial products company’s stock worth $195,000 after acquiring an additional 1,198 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Applied Industrial Technologies by 7.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,363 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 226 shares during the last quarter. Paradigm Asset Management Co. LLC grew its position in Applied Industrial Technologies by 59.1% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the industrial products company’s stock worth $207,000 after acquiring an additional 1,300 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $211,000. Finally, Teacher Retirement System of Texas bought a new position in Applied Industrial Technologies during the 3rd quarter worth approximately $212,000. Hedge funds and other institutional investors own 88.05% of the company’s stock.
In other Applied Industrial Technologies news, VP Mark O. Eisele sold 4,939 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total value of $276,139.49. Following the completion of the sale, the vice president now owns 106,090 shares in the company, valued at approximately $5,931,491.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.70% of the company’s stock.
Applied Industrial Technologies, Inc. (NYSE:AIT) opened at $61.80 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.83 and a debt-to-equity ratio of 0.37. Applied Industrial Technologies, Inc. has a 1 year low of $54.00 and a 1 year high of $70.05. The stock has a market capitalization of $2,398.77, a P/E ratio of 20.60, a P/E/G ratio of 1.61 and a beta of 0.94.
Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a return on equity of 16.25% and a net margin of 5.29%. The business had revenue of $680.70 million for the quarter, compared to analyst estimates of $668.18 million. During the same period last year, the company earned $0.70 EPS. Applied Industrial Technologies’s revenue for the quarter was up 8.9% compared to the same quarter last year. analysts predict that Applied Industrial Technologies, Inc. will post 3.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Wednesday, November 15th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend is Tuesday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 32.58%.
Several research firms recently issued reports on AIT. ValuEngine lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, BidaskClub upgraded Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $66.00.
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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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