Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 7.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,664 shares of the industrial products company's stock after acquiring an additional 8,426 shares during the quarter. Rhumbline Advisers owned 0.31% of Applied Industrial Technologies worth $17,292,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Applied Industrial Technologies by 7.0% during the first quarter. BlackRock Inc. now owns 7,001,286 shares of the industrial products company's stock valued at $718,751,000 after buying an additional 459,302 shares in the last quarter. Vanguard Group Inc. lifted its stake in Applied Industrial Technologies by 2.9% during the third quarter. Vanguard Group Inc. now owns 4,863,708 shares of the industrial products company's stock valued at $499,893,000 after buying an additional 136,174 shares in the last quarter. State Street Corp lifted its stake in Applied Industrial Technologies by 0.7% during the third quarter. State Street Corp now owns 1,383,105 shares of the industrial products company's stock valued at $142,156,000 after buying an additional 10,144 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Applied Industrial Technologies by 0.7% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,287,246 shares of the industrial products company's stock valued at $162,232,000 after buying an additional 8,951 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Applied Industrial Technologies by 5.0% during the fourth quarter. Macquarie Group Ltd. now owns 945,074 shares of the industrial products company's stock valued at $119,108,000 after buying an additional 44,714 shares in the last quarter. 92.49% of the stock is owned by institutional investors and hedge funds.

Shares of AIT stock opened at $154.59 on Thursday. Applied Industrial Technologies, Inc. has a 12 month low of $96.43 and a 12 month high of $156.53. The company has a quick ratio of 2.12, a current ratio of 3.05 and a debt-to-equity ratio of 0.41. The business's 50 day moving average is $145.95 and its two-hundred day moving average is $138.80. The company has a market cap of $5.98 billion, a PE ratio of 17.49 and a beta of 1.21.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Thursday, August 10th. The industrial products company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.18. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.12 billion. Applied Industrial Technologies had a return on equity of 25.62% and a net margin of 7.86%. Applied Industrial Technologies's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 earnings per share. Equities analysts predict that Applied Industrial Technologies, Inc. will post 9.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, August 14th. This represents a $1.40 annualized dividend and a yield of 0.91%. Applied Industrial Technologies's dividend payout ratio is currently 15.84%.

A number of equities analysts have recently weighed in on the company. StockNews.com assumed coverage on Applied Industrial Technologies in a report on Thursday, August 17th. They issued a "buy" rating on the stock. Loop Capital upped their target price on Applied Industrial Technologies from $170.00 to $174.00 and gave the company a "buy" rating in a report on Monday, August 14th. KeyCorp upped their target price on Applied Industrial Technologies from $162.00 to $182.00 and gave the company an "overweight" rating in a report on Friday, August 11th. Finally, Robert W. Baird increased their price objective on Applied Industrial Technologies from $161.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 11th.

Check Out Our Latest Research Report on Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 9,889 shares of the firm's stock in a transaction on Friday, August 25th. The stock was sold at an average price of $154.16, for a total value of $1,524,488.24. Following the completion of the sale, the chief executive officer now directly owns 292,307 shares in the company, valued at $45,062,047.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Neil A. Schrimsher sold 9,889 shares of the firm's stock in a transaction on Friday, August 25th. The stock was sold at an average price of $154.16, for a total value of $1,524,488.24. Following the completion of the sale, the chief executive officer now directly owns 292,307 shares in the company, valued at $45,062,047.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 30,000 shares of the firm's stock in a transaction on Monday, August 14th. The shares were sold at an average price of $153.67, for a total value of $4,610,100.00. Following the completion of the sale, the chief executive officer now owns 302,307 shares of the company's stock, valued at $46,455,516.69. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

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.

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