Capstone Asset Management Co. lowered its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,873 shares of the industrial products company’s stock after selling 810 shares during the period. Capstone Asset Management Co.’s holdings in Applied Industrial Technologies were worth $406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Applied Industrial Technologies by 84,093.2% in the first quarter. BlackRock Inc. now owns 5,566,855 shares of the industrial products company’s stock worth $344,310,000 after buying an additional 5,560,243 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Applied Industrial Technologies by 81.4% in the first quarter. Prudential Financial Inc. now owns 421,168 shares of the industrial products company’s stock worth $26,049,000 after buying an additional 188,930 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Applied Industrial Technologies by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,495,544 shares of the industrial products company’s stock worth $216,199,000 after buying an additional 174,201 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Applied Industrial Technologies by 27.2% in the first quarter. Bank of New York Mellon Corp now owns 755,638 shares of the industrial products company’s stock worth $46,736,000 after buying an additional 161,540 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Applied Industrial Technologies by 80.2% in the first quarter. Bank of America Corp DE now owns 316,347 shares of the industrial products company’s stock worth $19,566,000 after buying an additional 140,779 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

Applied Industrial Technologies, Inc. (NYSE:AIT) traded up 0.45% on Monday, reaching $56.25. The company had a trading volume of 69,222 shares. The firm has a market capitalization of $2.20 billion, a P/E ratio of 20.65 and a beta of 0.95. The company’s 50-day moving average price is $58.51 and its 200 day moving average price is $61.01. Applied Industrial Technologies, Inc. has a 1-year low of $43.50 and a 1-year high of $69.00.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.16 annualized dividend and a yield of 2.07%. Applied Industrial Technologies’s dividend payout ratio is presently 42.65%.

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AIT has been the subject of a number of research analyst reports. Zacks Investment Research lowered Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Wells Fargo & Company restated a “market perform” rating and set a $63.00 price objective (down previously from $67.00) on shares of Applied Industrial Technologies in a research report on Wednesday, July 12th. Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Tuesday, July 25th. They set a “neutral” rating for the company. Finally, BidaskClub lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.50.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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