Meeder Asset Management Inc. raised its holdings in Applied Industrial Technologies (NYSE:AIT) by 175.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,285 shares of the industrial products company’s stock after buying an additional 2,728 shares during the quarter. Meeder Asset Management Inc.’s holdings in Applied Industrial Technologies were worth $292,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Applied Industrial Technologies by 4.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,662,402 shares of the industrial products company’s stock valued at $216,264,000 after buying an additional 166,858 shares during the period. Dimensional Fund Advisors LP increased its holdings in Applied Industrial Technologies by 6.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,178,032 shares of the industrial products company’s stock valued at $77,513,000 after buying an additional 68,270 shares during the period. State Street Corp increased its holdings in Applied Industrial Technologies by 11.2% in the 2nd quarter. State Street Corp now owns 1,003,427 shares of the industrial products company’s stock valued at $59,253,000 after buying an additional 101,228 shares during the period. Victory Capital Management Inc. increased its holdings in Applied Industrial Technologies by 6.2% in the 3rd quarter. Victory Capital Management Inc. now owns 984,997 shares of the industrial products company’s stock valued at $64,813,000 after buying an additional 57,789 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Applied Industrial Technologies by 0.5% in the 3rd quarter. Principal Financial Group Inc. now owns 721,325 shares of the industrial products company’s stock valued at $47,462,000 after buying an additional 3,508 shares during the period. 88.41% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on AIT. Wellington Shields raised shares of Applied Industrial Technologies to a “hold” rating in a report on Tuesday, January 2nd. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $71.00.

Shares of Applied Industrial Technologies (NYSE AIT) opened at $69.85 on Friday. The company has a quick ratio of 1.90, a current ratio of 3.33 and a debt-to-equity ratio of 0.39. Applied Industrial Technologies has a fifty-two week low of $54.00 and a fifty-two week high of $75.35. The firm has a market cap of $2,701.45, a PE ratio of 22.10, a PEG ratio of 1.68 and a beta of 0.96.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, January 25th. The industrial products company reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.06. Applied Industrial Technologies had a net margin of 5.43% and a return on equity of 16.53%. The business had revenue of $667.19 million for the quarter, compared to analyst estimates of $651.05 million. research analysts expect that Applied Industrial Technologies will post 3.46 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Thursday, February 15th will be issued a $0.30 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.72%. Applied Industrial Technologies’s dividend payout ratio is presently 31.02%.

In other news, Director Green Edith Kelly sold 6,873 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $74.41, for a total value of $511,419.93. Following the sale, the director now owns 24,230 shares of the company’s stock, valued at approximately $1,802,954.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Todd A. Barlett sold 3,800 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $75.00, for a total transaction of $285,000.00. Following the completion of the sale, the vice president now directly owns 90,155 shares in the company, valued at approximately $6,761,625. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by corporate insiders.

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About Applied Industrial Technologies

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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