EAM Investors LLC Purchases New Shares in Applied Industrial Technologies, Inc. (NYSE:AIT)

EAM Investors LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 23,746 shares of the industrial products company’s stock, valued at approximately $5,686,000. Applied Industrial Technologies comprises about 0.8% of EAM Investors LLC’s portfolio, making the stock its 15th biggest position. EAM Investors LLC owned approximately 0.06% of Applied Industrial Technologies as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIT. Barclays PLC raised its position in shares of Applied Industrial Technologies by 156.6% during the third quarter. Barclays PLC now owns 74,109 shares of the industrial products company’s stock worth $16,537,000 after acquiring an additional 45,224 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Applied Industrial Technologies during the 4th quarter worth about $44,000. Nordea Investment Management AB raised its holdings in Applied Industrial Technologies by 5.0% during the 4th quarter. Nordea Investment Management AB now owns 202,050 shares of the industrial products company’s stock worth $48,540,000 after purchasing an additional 9,667 shares during the last quarter. Mountain Pacific Investment Advisers LLC lifted its position in Applied Industrial Technologies by 36.6% during the 4th quarter. Mountain Pacific Investment Advisers LLC now owns 46,155 shares of the industrial products company’s stock valued at $11,053,000 after purchasing an additional 12,364 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of Applied Industrial Technologies by 14.3% in the 3rd quarter. Franklin Resources Inc. now owns 233,655 shares of the industrial products company’s stock valued at $53,238,000 after purchasing an additional 29,288 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

AIT opened at $226.31 on Wednesday. The stock has a market cap of $8.68 billion, a P/E ratio of 22.93, a P/E/G ratio of 3.14 and a beta of 1.01. Applied Industrial Technologies, Inc. has a 12 month low of $177.68 and a 12 month high of $282.98. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $236.21 and a 200 day simple moving average of $245.67.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.46 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.81%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s payout ratio is presently 18.64%.

Analyst Ratings Changes

AIT has been the subject of a number of recent research reports. KeyCorp dropped their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Robert W. Baird raised their price target on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Raymond James reiterated an “outperform” rating and issued a $265.00 price objective (up previously from $250.00) on shares of Applied Industrial Technologies in a report on Thursday, January 30th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $284.29.

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.