Applied Industrial Technologies (AIT) Holdings Cut by Guyasuta Investment Advisors Inc.

Guyasuta Investment Advisors Inc. lessened its position in Applied Industrial Technologies (NYSE:AIT) by 12.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,835 shares of the industrial products company’s stock after selling 4,000 shares during the period. Guyasuta Investment Advisors Inc. owned 0.07% of Applied Industrial Technologies worth $2,029,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Applied Industrial Technologies by 39.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,600 shares of the industrial products company’s stock worth $177,000 after acquiring an additional 730 shares during the last quarter. Verity Asset Management Inc. bought a new stake in Applied Industrial Technologies in the 4th quarter worth $206,000. LPL Financial LLC bought a new stake in Applied Industrial Technologies in the 4th quarter worth $212,000. SG Americas Securities LLC bought a new stake in Applied Industrial Technologies in the 1st quarter worth $261,000. Finally, FDx Advisors Inc. bought a new stake in Applied Industrial Technologies in the 1st quarter worth $274,000. 92.36% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have issued reports on AIT. Zacks Investment Research raised shares of Applied Industrial Technologies from a “hold” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a report on Tuesday, May 1st. ValuEngine lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.50.

Shares of AIT opened at $71.35 on Friday. The stock has a market cap of $2.76 billion, a PE ratio of 25.12, a P/E/G ratio of 1.61 and a beta of 0.95. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.67 and a current ratio of 2.84. Applied Industrial Technologies has a 1-year low of $54.00 and a 1-year high of $75.40.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Thursday, April 26th. The industrial products company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.11. The firm had revenue of $827.67 million for the quarter, compared to analyst estimates of $803.23 million. Applied Industrial Technologies had a net margin of 5.40% and a return on equity of 17.52%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. research analysts expect that Applied Industrial Technologies will post 3.69 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Tuesday, May 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, May 14th. Applied Industrial Technologies’s payout ratio is 42.25%.

In related news, Director Joe Anthony Raver bought 1,585 shares of the business’s stock in a transaction dated Tuesday, May 1st. The shares were purchased at an average price of $63.20 per share, with a total value of $100,172.00. Following the purchase, the director now owns 3,982 shares of the company’s stock, valued at approximately $251,662.40. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.70% of the company’s stock.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial products in the United States, Puerto Rico, Canada, Mexico, 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 Businesses.

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

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