Prudential Financial Inc. Has $30.21 Million Stake in Applied Industrial Technologies, Inc. (AIT)

Prudential Financial Inc. lifted its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 5.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459,178 shares of the industrial products company’s stock after purchasing an additional 22,600 shares during the period. Prudential Financial Inc. owned 1.18% of Applied Industrial Technologies worth $30,214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. American Century Companies Inc. boosted its holdings in Applied Industrial Technologies by 248.4% in the 3rd quarter. American Century Companies Inc. now owns 182,063 shares of the industrial products company’s stock worth $11,980,000 after buying an additional 129,799 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Applied Industrial Technologies by 7.4% in the 3rd quarter. Wedge Capital Management L L P NC now owns 11,837 shares of the industrial products company’s stock worth $779,000 after buying an additional 817 shares during the period. Palisade Capital Management LLC NJ boosted its holdings in Applied Industrial Technologies by 1.9% in the 3rd quarter. Palisade Capital Management LLC NJ now owns 476,599 shares of the industrial products company’s stock worth $31,360,000 after buying an additional 8,827 shares during the period. Parametrica Management Ltd bought a new position in Applied Industrial Technologies in the 3rd quarter worth $648,000. Finally, Victory Capital Management Inc. boosted its holdings in Applied Industrial Technologies by 6.2% in the 3rd quarter. Victory Capital Management Inc. now owns 984,997 shares of the industrial products company’s stock worth $64,813,000 after buying an additional 57,789 shares during the period. 88.01% of the stock is owned by institutional investors.

In related news, VP Mark O. Eisele sold 8,926 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $54.42, for a total value of $485,752.92. Following the sale, the vice president now directly owns 135,029 shares of the company’s stock, valued at approximately $7,348,278.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Mark O. Eisele sold 11,854 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $55.76, for a total transaction of $660,979.04. Following the completion of the sale, the vice president now directly owns 147,029 shares in the company, valued at $8,198,337.04. The disclosure for this sale can be found here. Insiders have sold a total of 61,571 shares of company stock worth $3,392,661 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.

Several research firms have commented on AIT. downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. raised shares of Applied Industrial Technologies from a “strong sell” rating to a “sell” rating in a report on Monday, August 14th. Finally, began coverage on shares of Applied Industrial Technologies in a report on Tuesday, July 25th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $66.00.

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Shares of Applied Industrial Technologies, Inc. (AIT) opened at $60.55 on Wednesday. The company has a current ratio of 3.13, a quick ratio of 1.83 and a debt-to-equity ratio of 0.37. The stock has a market cap of $2,371.61, a PE ratio of 20.37, a PEG ratio of 1.60 and a beta of 0.94. Applied Industrial Technologies, Inc. has a 1 year low of $54.00 and a 1 year high of $70.05.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.10. The firm had revenue of $680.70 million for the quarter, compared to analysts’ expectations of $668.18 million. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 EPS. sell-side analysts anticipate that Applied Industrial Technologies, Inc. will post 3.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, November 14th. Applied Industrial Technologies’s dividend payout ratio is 32.58%.

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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