O Shaughnessy Asset Management LLC Purchases 11,825 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

O Shaughnessy Asset Management LLC increased its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 54.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,716 shares of the industrial products company’s stock after acquiring an additional 11,825 shares during the period. O Shaughnessy Asset Management LLC owned about 0.09% of Applied Industrial Technologies worth $4,792,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FinTrust Capital Advisors LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $25,000. Point72 Middle East FZE acquired a new position in Applied Industrial Technologies during the 4th quarter worth about $28,000. State of Wyoming bought a new stake in Applied Industrial Technologies during the 4th quarter worth about $29,000. CI Investments Inc. acquired a new stake in Applied Industrial Technologies in the 4th quarter valued at about $57,000. Finally, Federated Hermes Inc. raised its stake in shares of Applied Industrial Technologies by 54.9% in the third quarter. Federated Hermes Inc. now owns 553 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 196 shares during the last quarter. 92.49% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Industrial Technologies

In other news, CEO Neil A. Schrimsher sold 9,889 shares of Applied Industrial Technologies stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $154.16, for a total transaction of $1,524,488.24. Following the transaction, the chief executive officer now owns 292,307 shares in the company, valued at approximately $45,062,047.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Neil A. Schrimsher sold 9,889 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $154.16, for a total transaction of $1,524,488.24. Following the sale, the chief executive officer now directly owns 292,307 shares in the company, valued at $45,062,047.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 30,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $153.67, for a total transaction of $4,610,100.00. Following the completion of the sale, the chief executive officer now directly owns 302,307 shares in the company, valued at $46,455,516.69. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

AIT has been the topic of several research analyst reports. Loop Capital increased their price target on shares of Applied Industrial Technologies from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Monday, August 14th. StockNews.com assumed coverage on Applied Industrial Technologies in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Robert W. Baird boosted their target price on Applied Industrial Technologies from $161.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, August 11th. Finally, KeyCorp raised their price target on Applied Industrial Technologies from $162.00 to $182.00 and gave the company an “overweight” rating in a report on Friday, August 11th.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $157.49 on Thursday. The firm has a fifty day moving average of $147.57 and a two-hundred day moving average of $139.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.12 and a current ratio of 3.05. The stock has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.82 and a beta of 1.20. Applied Industrial Technologies, Inc. has a 52 week low of $96.43 and a 52 week high of $157.99.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, August 10th. The industrial products company reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.18. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.12 billion. Applied Industrial Technologies had a return on equity of 25.62% and a net margin of 7.86%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 earnings per share. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.02 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Tuesday, August 15th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.89%. The ex-dividend date was Monday, August 14th. Applied Industrial Technologies’s payout ratio is presently 15.84%.

About Applied Industrial Technologies

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.