Anchor Bolt Capital LP reduced its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 276,880 shares of the industrial products company’s stock after selling 6,549 shares during the period. Anchor Bolt Capital LP owned 0.71% of Applied Industrial Technologies worth $18,219,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AIT. Teachers Advisors LLC boosted its holdings in Applied Industrial Technologies by 5.6% in the 1st quarter. Teachers Advisors LLC now owns 63,677 shares of the industrial products company’s stock valued at $3,938,000 after purchasing an additional 3,349 shares during the period. Aperio Group LLC boosted its holdings in Applied Industrial Technologies by 11.9% in the 2nd quarter. Aperio Group LLC now owns 11,885 shares of the industrial products company’s stock valued at $702,000 after purchasing an additional 1,266 shares during the period. Strs Ohio boosted its holdings in Applied Industrial Technologies by 6.1% in the 2nd quarter. Strs Ohio now owns 20,900 shares of the industrial products company’s stock valued at $1,234,000 after purchasing an additional 1,200 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in Applied Industrial Technologies by 57.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,990 shares of the industrial products company’s stock valued at $826,000 after purchasing an additional 5,080 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in Applied Industrial Technologies by 3.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 56,257 shares of the industrial products company’s stock valued at $3,316,000 after purchasing an additional 1,958 shares during the period. 87.93% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on AIT. ValuEngine downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Applied Industrial Technologies presently has an average rating of “Hold” and an average price target of $66.00.

Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) opened at $63.60 on Thursday. The company has a quick ratio of 1.83, a current ratio of 3.13 and a debt-to-equity ratio of 0.37. Applied Industrial Technologies, Inc. has a 1-year low of $54.00 and a 1-year high of $70.05. The firm has a market cap of $2,486.11, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.67 and a beta of 0.93.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.10. Applied Industrial Technologies had a net margin of 5.29% and a return on equity of 16.25%. The firm had revenue of $680.70 million during the quarter, compared to the consensus estimate of $668.18 million. During the same period in the prior year, the firm earned $0.70 EPS. The business’s revenue was up 8.9% on a year-over-year basis. equities research analysts predict that Applied Industrial Technologies, Inc. will post 3.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Wednesday, November 15th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Tuesday, November 14th. Applied Industrial Technologies’s dividend payout ratio is 32.58%.

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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.

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

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