Insider Selling: Applied Industrial Technologies, Inc. (NYSE:AIT) Director Sells 5,000 Shares of Stock

Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) Director Peter C. Wallace sold 5,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $108.47, for a total value of $542,350.00. Following the completion of the sale, the director now owns 19,357 shares of the company’s stock, valued at $2,099,653.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE:AIT traded down $2.45 on Wednesday, hitting $105.40. 2,797 shares of the company’s stock were exchanged, compared to its average volume of 205,324. Applied Industrial Technologies, Inc. has a 12 month low of $80.93 and a 12 month high of $111.68. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 17.74 and a beta of 1.28. The business’s 50 day simple moving average is $101.97 and its two-hundred day simple moving average is $100.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 1.87.

Applied Industrial Technologies (NYSE:AIT – Get Rating) last released its earnings results on Thursday, April 28th. The industrial products company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.23. Applied Industrial Technologies had a return on equity of 23.58% and a net margin of 6.52%. The business had revenue of $980.60 million during the quarter, compared to the consensus estimate of $922.46 million. During the same period last year, the company earned $1.37 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts forecast that Applied Industrial Technologies, Inc. will post 6.24 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, May 13th. This represents a $1.36 annualized dividend and a dividend yield of 1.29%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 22.37%.

A number of analysts recently issued reports on AIT shares. StockNews.com downgraded Applied Industrial Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 11th. Zacks Investment Research downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating and set a $107.00 price target for the company. in a research report on Wednesday, March 30th. Finally, Robert W. Baird raised their price target on Applied Industrial Technologies from $115.00 to $123.00 in a research report on Friday, January 28th.

Several hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $30,000. CWM LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $33,000. Rockefeller Capital Management L.P. raised its holdings in shares of Applied Industrial Technologies by 38.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 141 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $74,000. Finally, Gladius Capital Management LP bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $89,000. Hedge funds and other institutional investors own 92.88% of the company’s stock.

About Applied Industrial Technologies (Get Rating)

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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, 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, as well as other related supplies for general operational needs of customers' machinery and equipment.

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