60,050 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 60,050 shares of the industrial products company’s stock, valued at approximately $10,370,000. TimesSquare Capital Management LLC owned about 0.16% of Applied Industrial Technologies as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AIT. Meritage Portfolio Management grew its holdings in shares of Applied Industrial Technologies by 2.0% during the fourth quarter. Meritage Portfolio Management now owns 3,638 shares of the industrial products company’s stock valued at $628,000 after buying an additional 73 shares in the last quarter. Blue Trust Inc. grew its stake in Applied Industrial Technologies by 0.8% during the 4th quarter. Blue Trust Inc. now owns 11,101 shares of the industrial products company’s stock valued at $1,917,000 after acquiring an additional 86 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Applied Industrial Technologies by 6.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,652 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 93 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Applied Industrial Technologies by 4.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 2,054 shares of the industrial products company’s stock valued at $318,000 after purchasing an additional 95 shares during the period. Finally, Measured Wealth Private Client Group LLC lifted its position in shares of Applied Industrial Technologies by 3.0% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 4,846 shares of the industrial products company’s stock worth $837,000 after purchasing an additional 139 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

AIT has been the topic of several research reports. Oppenheimer began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 price objective on the stock. KeyCorp upped their price target on shares of Applied Industrial Technologies from $195.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of “Buy” and an average price target of $201.00.

Applied Industrial Technologies Stock Up 0.4 %

NYSE:AIT traded up $0.85 during mid-day trading on Friday, reaching $197.37. The stock had a trading volume of 9,973 shares, compared to its average volume of 332,693. The stock has a market cap of $7.62 billion, a P/E ratio of 20.61, a PEG ratio of 1.94 and a beta of 1.10. The business’s 50 day moving average is $189.83 and its 200 day moving average is $177.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. Applied Industrial Technologies, Inc. has a fifty-two week low of $122.24 and a fifty-two week high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Thursday, April 25th. The industrial products company reported $2.48 EPS for the quarter, topping the consensus estimate of $2.40 by $0.08. Applied Industrial Technologies had a net margin of 8.36% and a return on equity of 23.69%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $2.38 EPS. Applied Industrial Technologies’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 9.6 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Wednesday, May 15th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.48 annualized dividend and a yield of 0.75%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 15.51%.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.