Maryland State Retirement & Pension System Lowers Stock Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Maryland State Retirement & Pension System cut its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,087 shares of the industrial products company’s stock after selling 150 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Applied Industrial Technologies were worth $2,433,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank increased its position in Applied Industrial Technologies by 963.2% during the third quarter. Huntington National Bank now owns 202 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 183 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter worth about $40,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at about $54,000. GAMMA Investing LLC acquired a new stake in Applied Industrial Technologies during the 4th quarter worth approximately $86,000. Finally, Consolidated Planning Corp acquired a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AIT. Oppenheimer started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, April 2nd. They issued an “outperform” rating and a $235.00 target price on the stock. KeyCorp raised their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $201.00.

Applied Industrial Technologies Stock Up 0.0 %

Shares of AIT traded up $0.03 during trading on Wednesday, reaching $193.85. The company’s stock had a trading volume of 11,821 shares, compared to its average volume of 334,565. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 1.94 and a beta of 1.10. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average of $189.63 and a two-hundred day moving average of $177.01. Applied Industrial Technologies, Inc. has a twelve month low of $122.24 and a twelve month high of $201.76.

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

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed 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. This represents a $1.48 annualized dividend and a yield of 0.76%. The ex-dividend date is Tuesday, May 14th. Applied Industrial Technologies’s dividend payout ratio 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.