Nationwide Fund Advisors Boosts Stake in Applied Industrial Technologies Inc. (AIT)
Nationwide Fund Advisors boosted its position in Applied Industrial Technologies Inc. (NYSE:AIT) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 31,271 shares of the company’s stock after buying an additional 488 shares during the period. Nationwide Fund Advisors owned about 0.08% of Applied Industrial Technologies worth $1,412,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the company. Smith Asset Management Group LP purchased a new stake in shares of Applied Industrial Technologies during the second quarter worth approximately $113,000. BlackRock Inc. boosted 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. Invictus RG boosted its stake in shares of Applied Industrial Technologies by 263.2% in the first quarter. Invictus RG now owns 4,693 shares of the company’s stock worth $204,000 after buying an additional 3,401 shares in the last quarter. Menta Capital LLC purchased a new stake in shares of Applied Industrial Technologies during the first quarter worth approximately $267,000. Finally, Boston Private Wealth LLC boosted its stake in shares of Applied Industrial Technologies by 20.3% in the second quarter. Boston Private Wealth LLC now owns 6,011 shares of the company’s stock worth $271,000 after buying an additional 1,015 shares in the last quarter. 89.33% of the stock is owned by institutional investors.
Applied Industrial Technologies Inc. (NYSE:AIT) opened at 45.12 on Wednesday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 60.16 and a beta of 1.13. The firm’s 50 day moving average price is $46.62 and its 200-day moving average price is $45.79. Applied Industrial Technologies Inc. has a 1-year low of $35.55 and a 1-year high of $48.61.
Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Friday, August 12th. The company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The firm had revenue of $63 million for the quarter, compared to analyst estimates of $643.13 million. Applied Industrial Technologies had a return on equity of 14.56% and a net margin of 1.17%. Applied Industrial Technologies’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.70 earnings per share. On average, equities analysts anticipate that Applied Industrial Technologies Inc. will post $2.52 earnings per share for the current year.
A number of analysts have commented on AIT shares. Zacks Investment Research raised Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research report on Friday, October 14th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Applied Industrial Technologies in a research report on Sunday, September 4th.
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.
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