Applied Industrial Technologies, Inc. (NYSE:AIT) Short Interest Update

Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) was the target of a significant growth in short interest in April. As of April 30th, there was short interest totalling 536,900 shares, a growth of 19.7% from the April 15th total of 448,700 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 213,800 shares, the days-to-cover ratio is currently 2.5 days.

Applied Industrial Technologies Stock Up 1.2 %

AIT stock opened at $129.19 on Monday. The company has a quick ratio of 2.04, a current ratio of 3.14 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $134.88 and a two-hundred day moving average price of $132.38. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 15.18 and a beta of 1.19. Applied Industrial Technologies has a twelve month low of $88.09 and a twelve month high of $149.42.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 31st. Shareholders of record on Monday, May 15th will be paid a $0.35 dividend. The ex-dividend date is Friday, May 12th. This represents a $1.40 dividend on an annualized basis and a yield of 1.08%. Applied Industrial Technologies’s dividend payout ratio is 16.45%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AIT. Robert W. Baird increased their target price on Applied Industrial Technologies from $160.00 to $161.00 in a research note on Friday, April 28th. StockNews.com started coverage on Applied Industrial Technologies in a research report on Thursday, March 16th. They set a “buy” rating on the stock. Loop Capital raised their price target on Applied Industrial Technologies from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, January 27th. Finally, KeyCorp increased their price objective on Applied Industrial Technologies from $138.00 to $162.00 and gave the stock an “overweight” rating in a report on Friday, January 27th.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 4,186 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $145.00, for a total value of $606,970.00. Following the sale, the chief executive officer now directly owns 339,744 shares in the company, valued at $49,262,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Neil A. Schrimsher sold 4,186 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $145.00, for a total transaction of $606,970.00. Following the sale, the chief executive officer now owns 339,744 shares in the company, valued at $49,262,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 21,526 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $145.06, for a total value of $3,122,561.56. Following the sale, the chief executive officer now owns 318,218 shares in the company, valued at approximately $46,160,703.08. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY grew its stake in Applied Industrial Technologies by 3.2% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,351 shares of the industrial products company’s stock valued at $296,000 after purchasing an additional 72 shares in the last quarter. Csenge Advisory Group boosted its stake in shares of Applied Industrial Technologies by 1.6% during the 1st quarter. Csenge Advisory Group now owns 4,740 shares of the industrial products company’s stock worth $674,000 after acquiring an additional 76 shares during the period. Ellevest Inc. boosted its stake in shares of Applied Industrial Technologies by 30.7% during the 3rd quarter. Ellevest Inc. now owns 370 shares of the industrial products company’s stock worth $38,000 after acquiring an additional 87 shares during the period. Captrust Financial Advisors boosted its stake in shares of Applied Industrial Technologies by 2.9% during the 2nd quarter. Captrust Financial Advisors now owns 3,404 shares of the industrial products company’s stock worth $327,000 after acquiring an additional 97 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Applied Industrial Technologies by 9.9% during the 3rd quarter. Van ECK Associates Corp now owns 1,114 shares of the industrial products company’s stock worth $114,000 after acquiring an additional 100 shares during the period. 92.02% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Company Profile

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Applied Industrial Technologies, Inc engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution, and Fluid Power & Flow Control Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.