Systematic Financial Management LP reduced its stake in shares of Applied Industrial Technologies Inc. (NYSE:AIT) by 7.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 40,230 shares of the company’s stock after selling 3,140 shares during the period. Systematic Financial Management LP owned approximately 0.10% of Applied Industrial Technologies worth $1,815,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Capstone Asset Management Co. raised its stake in shares of Applied Industrial Technologies by 1.8% in the second quarter. Capstone Asset Management Co. now owns 13,355 shares of the company’s stock worth $603,000 after buying an additional 230 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Applied Industrial Technologies by 1.6% in the second quarter. Nationwide Fund Advisors now owns 31,271 shares of the company’s stock worth $1,412,000 after buying an additional 488 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Applied Industrial Technologies by 13.5% in the second quarter. Teacher Retirement System of Texas now owns 5,219 shares of the company’s stock worth $236,000 after buying an additional 619 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Applied Industrial Technologies by 3.6% in the first quarter. Arizona State Retirement System now owns 20,181 shares of the company’s stock worth $876,000 after buying an additional 700 shares in the last quarter. Finally, Zebra Capital Management LLC raised its stake in shares of Applied Industrial Technologies by 5.2% in the first quarter. Zebra Capital Management LLC now owns 14,742 shares of the company’s stock worth $640,000 after buying an additional 734 shares in the last quarter. 89.35% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Inc. (NYSE:AIT) traded up 0.90% during midday trading on Wednesday, hitting $45.95. The stock had a trading volume of 32,407 shares. Applied Industrial Technologies Inc. has a 52-week low of $35.55 and a 52-week high of $48.61. The firm has a market capitalization of $1.79 billion, a P/E ratio of 61.27 and a beta of 1.17. The firm has a 50-day moving average of $47.07 and a 200 day moving average of $45.16.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Friday, August 12th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The company had revenue of $63 million for the quarter, compared to analyst estimates of $643.13 million. Applied Industrial Technologies had a net margin of 1.17% and a return on equity of 14.56%. Applied Industrial Technologies’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. On average, equities analysts forecast that Applied Industrial Technologies Inc. will post $2.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 15th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Thursday, August 11th. Applied Industrial Technologies’s payout ratio is 151.35%.

A number of brokerages have weighed in on AIT. Wells Fargo & Co. reiterated a “hold” rating on shares of Applied Industrial Technologies in a research note on Sunday, September 4th. Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, July 7th.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies Inc is a distributor and supplier of industrial products. The Company’s industry products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and other industrial and maintenance supplies.

5 Day Chart for NYSE:AIT

Want to see what other hedge funds are holding AIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Industrial Technologies Inc. (NYSE:AIT).

Receive News & Ratings for Applied Industrial Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.