Zhang Financial LLC Has $4.20 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Zhang Financial LLC reduced its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.6% during the 4th quarter, Holdings Channel reports. The fund owned 24,293 shares of the industrial products company’s stock after selling 2,000 shares during the period. Zhang Financial LLC’s holdings in Applied Industrial Technologies were worth $4,195,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY increased its holdings in shares of Applied Industrial Technologies by 3.2% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,351 shares of the industrial products company’s stock worth $296,000 after purchasing an additional 72 shares during the period. Pinnacle Associates Ltd. increased its stake in Applied Industrial Technologies by 0.8% in the third quarter. Pinnacle Associates Ltd. now owns 9,933 shares of the industrial products company’s stock valued at $1,536,000 after acquiring an additional 77 shares during the last quarter. Blue Trust Inc. increased its stake in Applied Industrial Technologies by 0.8% in the fourth 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 during the last quarter. Sequoia Financial Advisors LLC increased its stake in Applied Industrial Technologies by 6.0% in the third 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 during the last quarter. Finally, Evergreen Capital Management LLC increased its stake in Applied Industrial Technologies by 4.8% in the third quarter. Evergreen Capital Management LLC now owns 2,054 shares of the industrial products company’s stock valued at $318,000 after acquiring an additional 95 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

Applied Industrial Technologies Trading Down 0.3 %

AIT traded down $0.62 during trading on Friday, reaching $183.37. 95,128 shares of the stock traded hands, compared to its average volume of 334,172. The company has a quick ratio of 2.59, a current ratio of 3.74 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $7.09 billion, a PE ratio of 19.31, a P/E/G ratio of 1.94 and a beta of 1.08. The stock’s 50-day moving average is $190.32 and its 200 day moving average is $174.31. Applied Industrial Technologies, Inc. has a 12 month low of $122.24 and a 12 month high of $201.76.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, January 25th. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.13. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.06 billion. Applied Industrial Technologies had a net margin of 8.39% and a return on equity of 24.59%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Equities analysts anticipate that Applied Industrial Technologies, Inc. will post 9.49 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 29th. Shareholders of record on Thursday, February 15th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.48 dividend on an annualized basis and a yield of 0.81%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.35. Applied Industrial Technologies’s dividend payout ratio is 15.53%.

Insider Activity

In related news, VP Warren E. Hoffner III sold 2,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $182.34, for a total value of $364,680.00. Following the sale, the vice president now owns 57,155 shares in the company, valued at approximately $10,421,642.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. KeyCorp boosted their target price 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. Oppenheimer assumed coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They set an “outperform” rating and a $235.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Applied Industrial Technologies currently has an average rating of “Buy” and a consensus target price of $201.00.

Applied Industrial Technologies Company Profile

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.