Applied Industrial Technologies Inc. (AIT) Sees Strong Trading Volume
Shares of Applied Industrial Technologies Inc. (NYSE:AIT) saw an uptick in trading volume on Friday . 163,385 shares were traded during trading, a decline of 5% from the previous session’s volume of 172,347 shares.The stock last traded at $47.89 and had previously closed at $47.76.
Separately, Zacks Investment Research upgraded shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th.
The stock has a market capitalization of $1.89 billion and a PE ratio of 64.53. The company has a 50-day moving average of $46.96 and a 200-day moving average of $44.41.
Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Friday, August 12th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.66. The firm earned $63 million during the quarter, compared to analyst estimates of $643.13 million. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, equities analysts forecast that Applied Industrial Technologies Inc. will post $2.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 15th were paid a $0.28 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.12 dividend on an annualized basis and a yield of 2.31%.
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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