Blueshift Asset Management LLC acquired a new stake in Applied Industrial Technologies (NYSE:AIT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 4,997 shares of the industrial products company’s stock, valued at approximately $270,000.

Other hedge funds have also made changes to their positions in the company. Quantamental Technologies LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter worth about $113,000. First Mercantile Trust Co. grew its holdings in shares of Applied Industrial Technologies by 11.1% in the 4th quarter. First Mercantile Trust Co. now owns 2,200 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 220 shares during the last quarter. BlueMountain Capital Management LLC grew its holdings in shares of Applied Industrial Technologies by 182.4% in the 3rd quarter. BlueMountain Capital Management LLC now owns 2,649 shares of the industrial products company’s stock worth $207,000 after purchasing an additional 1,711 shares during the last quarter. Zeke Capital Advisors LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth about $228,000. Finally, Commonwealth Bank of Australia bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter worth about $273,000. Institutional investors own 88.86% of the company’s stock.

Shares of NYSE:AIT opened at $58.78 on Thursday. Applied Industrial Technologies has a 12 month low of $50.56 and a 12 month high of $82.35. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.61 and a current ratio of 2.75. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.06 and a beta of 1.29.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, January 24th. The industrial products company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.07). Applied Industrial Technologies had a return on equity of 20.03% and a net margin of 4.80%. The company had revenue of $840.00 million for the quarter, compared to the consensus estimate of $855.94 million. During the same period in the prior year, the company earned $0.79 EPS. The firm’s revenue was up 25.9% compared to the same quarter last year. Analysts expect that Applied Industrial Technologies will post 4.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 28th. Shareholders of record on Friday, February 15th were issued a dividend of $0.31 per share. The ex-dividend date was Thursday, February 14th. This represents a $1.24 dividend on an annualized basis and a yield of 2.11%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.30. Applied Industrial Technologies’s dividend payout ratio is currently 33.16%.

Several research firms have recently weighed in on AIT. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. KeyCorp raised shares of Applied Industrial Technologies from a “sector weight” rating to an “overweight” rating in a report on Tuesday, January 15th. Longbow Research raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Friday, March 8th. Wellington Shields lowered shares of Applied Industrial Technologies from a “buy” rating to a “gradually accumulate” rating in a report on Thursday, January 24th. Finally, Wells Fargo & Co decreased their price objective on shares of Applied Industrial Technologies from $75.00 to $60.00 and set a “market perform” rating on the stock in a report on Friday, December 21st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Applied Industrial Technologies currently has an average rating of “Hold” and an average target price of $71.00.

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Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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

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