8,439 Shares in Applied Industrial Technologies, Inc. (AIT) Purchased by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,439 shares of the industrial products company’s stock, valued at approximately $498,000.

A number of other hedge funds also recently added to or reduced their stakes in AIT. Envestnet Asset Management Inc. increased its position in Applied Industrial Technologies by 2.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,741 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 64 shares in the last quarter. Riverhead Capital Management LLC increased 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 purchasing an additional 1,198 shares in the last quarter. Ameritas Investment Partners Inc. increased 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 purchasing an additional 226 shares in the last quarter. Paradigm Asset Management Co. LLC increased 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 purchasing an additional 1,300 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $211,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

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In other news, VP Mark O. Eisele sold 11,854 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark O. Eisele sold 4,939 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total transaction of $276,139.49. Following the completion of the sale, the vice president now owns 106,090 shares of the company’s stock, valued at $5,931,491.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,571 shares of company stock valued at $4,070,841. Company insiders own 3.70% of the company’s stock.

A number of research firms recently issued reports on AIT. ValuEngine cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research cut shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday. Wells Fargo & Co reiterated a “market perform” rating and set a $63.00 price objective (down from $67.00) on shares of Applied Industrial Technologies in a research report on Wednesday, July 12th. BidaskClub upgraded shares of Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a research report on Monday, August 14th. Finally, Northcoast Research began coverage on shares of Applied Industrial Technologies in a research report on Tuesday, July 25th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Applied Industrial Technologies presently has an average rating of “Hold” and a consensus price target of $66.00.

Applied Industrial Technologies, Inc. (NYSE:AIT) opened at 64.95 on Friday. The firm has a 50-day moving average of $62.18 and a 200 day moving average of $60.16. The firm has a market capitalization of $2.54 billion, a PE ratio of 19.10 and a beta of 0.95. Applied Industrial Technologies, Inc. has a 12 month low of $43.50 and a 12 month high of $69.00.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.56. The firm had revenue of $681.47 million during the quarter, compared to analyst estimates of $680.20 million. Applied Industrial Technologies had a net margin of 5.16% and a return on equity of 15.89%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 EPS. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post $3.10 earnings per share for the current year.

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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