Applied Industrial Technologies Inc. (AIT) Sees Unusually-High Trading Volume
Applied Industrial Technologies Inc. (NYSE:AIT) saw an uptick in trading volume on Friday . 163,385 shares changed hands during mid-day 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.
A number of brokerages have recently weighed in on AIT. Zacks Investment Research upgraded Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Wells Fargo & Co. restated a “hold” rating on shares of Applied Industrial Technologies in a research report on Sunday.
The company has a market cap of $1.89 billion and a price-to-earnings ratio of 64.53. The company’s 50 day moving average price is $46.92 and its 200-day moving average price is $44.38.
Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Friday, August 12th. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.66. During the same quarter in the prior year, the firm earned $0.70 EPS. The company had revenue of $63 million for the quarter, compared to analyst estimates of $643.13 million. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts expect that Applied Industrial Technologies Inc. will post $2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 15th were given a dividend of $0.28 per share. 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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