Maryland State Retirement & Pension System raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,421 shares of the industrial products company’s stock after acquiring an additional 121 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Applied Industrial Technologies were worth $1,583,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AIT. Alliancebernstein L.P. grew its stake in shares of Applied Industrial Technologies by 463.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,144,594 shares of the industrial products company’s stock valued at $117,550,000 after buying an additional 941,429 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Applied Industrial Technologies by 19.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,611,855 shares of the industrial products company’s stock valued at $370,938,000 after buying an additional 595,738 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of Applied Industrial Technologies by 10.4% in the 4th quarter. Boston Trust Walden Corp now owns 723,120 shares of the industrial products company’s stock valued at $74,264,000 after buying an additional 68,132 shares in the last quarter. Moors & Cabot Inc. bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at approximately $4,779,000. Finally, Walleye Capital LLC bought a new stake in shares of Applied Industrial Technologies in the 4th quarter valued at approximately $4,240,000. 92.88% of the stock is owned by institutional investors and hedge funds.
Shares of Applied Industrial Technologies stock opened at $91.45 on Thursday. The stock has a market capitalization of $3.52 billion, a P/E ratio of 14.95 and a beta of 1.28. The company has a quick ratio of 1.87, a current ratio of 2.79 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $101.68 and a two-hundred day moving average price of $100.73. Applied Industrial Technologies, Inc. has a 12-month low of $80.93 and a 12-month high of $111.68.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Monday, May 16th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, May 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.49%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 22.37%.
Separately, StockNews.com raised Applied Industrial Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 19th.
In related news, CEO Neil A. Schrimsher sold 13,488 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $108.20, for a total value of $1,459,401.60. Following the completion of the transaction, the chief executive officer now directly owns 274,213 shares in the company, valued at $29,669,846.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Wallace sold 4,931 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $105.06, for a total value of $518,050.86. Following the completion of the transaction, the director now owns 24,357 shares of the company’s stock, valued at $2,558,946.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,419 shares of company stock valued at $2,519,802. Corporate insiders own 2.40% 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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