Applied Industrial Technologies, Inc. (NYSE:AIT) Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 58.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,897 shares of the industrial products company’s stock after buying an additional 1,813 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Applied Industrial Technologies were worth $1,173,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AIT. Headlands Technologies LLC purchased a new stake in Applied Industrial Technologies in the second quarter valued at $26,000. V Square Quantitative Management LLC acquired a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth about $34,000. First Horizon Advisors Inc. raised its holdings in Applied Industrial Technologies by 106.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after buying an additional 88 shares during the period. UMB Bank n.a. lifted its position in Applied Industrial Technologies by 68.1% in the third quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after buying an additional 77 shares during the last quarter. Finally, Quarry LP purchased a new position in Applied Industrial Technologies during the second quarter worth about $39,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $252.92 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The company has a market cap of $9.72 billion, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 3.71 and a beta of 1.08. The stock’s 50-day moving average is $260.15 and its two-hundred day moving average is $228.05. Applied Industrial Technologies, Inc. has a 1-year low of $166.37 and a 1-year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.11. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm earned $2.39 earnings per share. The business’s quarterly revenue was up .3% compared to the same quarter last year. Analysts forecast that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were given a dividend of $0.37 per share. The ex-dividend date was Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.59%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 15.10%.

Insider Buying and Selling

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $281.64, for a total value of $1,126,560.00. Following the completion of the transaction, the vice president now owns 55,709 shares in the company, valued at approximately $15,689,882.76. This represents a 6.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Mary Dean Hall sold 2,200 shares of Applied Industrial Technologies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the sale, the director now owns 3,462 shares in the company, valued at $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. KeyCorp upped their price objective on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Mizuho started coverage on Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target for the company. Bank of America raised Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $285.00 to $315.00 in a research note on Tuesday, November 26th. Oppenheimer increased their target price on Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Finally, Loop Capital lifted their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $285.71.

Applied Industrial Technologies 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.