Ameriprise Financial Inc. raised its position in shares of Applied Industrial Technologies Inc. (NYSE:AIT) by 4.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 360,630 shares of the company’s stock after buying an additional 15,312 shares during the period. Ameriprise Financial Inc. owned about 0.92% of Applied Industrial Technologies worth $16,281,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in shares of Applied Industrial Technologies during the first quarter worth approximately $580,000. Mondrian Investment Partners LTD increased its stake in shares of Applied Industrial Technologies by 2,434.5% in the first quarter. Mondrian Investment Partners LTD now owns 28,767 shares of the company’s stock worth $1,248,000 after buying an additional 27,632 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of Applied Industrial Technologies by 9.0% in the first quarter. Prudential Financial Inc. now owns 155,738 shares of the company’s stock worth $6,759,000 after buying an additional 12,900 shares in the last quarter. BlackRock Inc. increased its stake in shares of Applied Industrial Technologies by 116.4% in the first quarter. BlackRock Inc. now owns 2,798 shares of the company’s stock worth $121,000 after buying an additional 1,505 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Applied Industrial Technologies by 6.6% in the first quarter. BlackRock Group LTD now owns 48,625 shares of the company’s stock worth $2,110,000 after buying an additional 3,004 shares in the last quarter. 89.35% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Inc. (NYSE:AIT) traded down 1.20% during midday trading on Friday, reaching $46.14. The company’s stock had a trading volume of 67,242 shares. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 61.52 and a beta of 1.17. Applied Industrial Technologies Inc. has a 12 month low of $35.55 and a 12 month high of $48.61. The stock’s 50-day moving average price is $47.04 and its 200-day moving average price is $45.17.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Friday, August 12th. The company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. Applied Industrial Technologies had a return on equity of 14.56% and a net margin of 1.17%. The company earned $63 million during the quarter, compared to the consensus estimate of $643.13 million. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Analysts predict that Applied Industrial Technologies Inc. will post $2.52 EPS for the current year.

A number of equities research analysts have issued reports on AIT shares. Zacks Investment Research downgraded Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Wells Fargo & Co. reissued a “hold” rating on shares of Applied Industrial Technologies in a research report on Sunday, September 4th.

About Applied Industrial Technologies

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

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.