Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Algert Global LLC

Algert Global LLC boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 104.8% during the second quarter, Holdings Channel reports. The institutional investor owned 37,718 shares of the industrial products company’s stock after buying an additional 19,299 shares during the period. Algert Global LLC’s holdings in Applied Industrial Technologies were worth $2,227,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Teachers Advisors LLC increased its stake in Applied Industrial Technologies by 5.6% in the fourth quarter. Teachers Advisors LLC now owns 60,328 shares of the industrial products company’s stock worth $3,583,000 after buying an additional 3,178 shares in the last quarter. Alpha Windward LLC purchased a new stake in Applied Industrial Technologies during the first quarter worth approximately $471,000. Louisiana State Employees Retirement System increased its stake in Applied Industrial Technologies by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,900 shares of the industrial products company’s stock worth $983,000 after buying an additional 200 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Applied Industrial Technologies by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 4,320 shares of the industrial products company’s stock worth $267,000 after buying an additional 90 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Applied Industrial Technologies by 15.2% in the first quarter. Acadian Asset Management LLC now owns 192,384 shares of the industrial products company’s stock worth $11,898,000 after buying an additional 25,344 shares in the last quarter. Institutional investors own 87.47% of the company’s stock.

Shares of Applied Industrial Technologies, Inc. (AIT) opened at 56.05 on Tuesday. The firm’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 12 month low of $43.50 and a 12 month high of $69.00. The stock has a market capitalization of $2.19 billion, a P/E ratio of 20.58 and a beta of 0.95.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, August 11th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 42.65%.

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A number of equities research analysts recently commented on AIT shares. Zacks Investment Research downgraded 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 from $67.00) on shares of Applied Industrial Technologies in a research report on Wednesday, July 12th. BidaskClub downgraded Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Tuesday, July 25th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $65.50.

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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