News headlines about Applied Industrial Technologies (NYSE:AIT) have trended somewhat positive this week, Accern reports. The research group identifies negative and positive news coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Applied Industrial Technologies earned a coverage optimism score of 0.19 on Accern’s scale. Accern also assigned news articles about the industrial products company an impact score of 46.3049211347851 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the media stories that may have impacted Accern’s scoring:
- Applied Industrial Technologies, Inc. (AIT) VP Mark O. Eisele Sells 11,854 Shares (americanbankingnews.com)
- Insider Selling: Applied Industrial Technologies, Inc. (AIT) VP Sells 6,000 Shares of Stock (americanbankingnews.com)
- Applied Industrial Technologies, Inc. (AIT) VP Mark O. Eisele Sells 6,000 Shares (americanbankingnews.com)
- Brokers Issue Forecasts for Applied Industrial Technologies, Inc.’s Q1 2018 Earnings (AIT) (americanbankingnews.com)
- Applied Industrial (AIT) Q4 Earnings & Sales Beat, Up Y/Y (finance.yahoo.com)
Several research analysts have recently issued reports on AIT shares. Zacks Investment Research raised Applied Industrial Technologies from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Monday, August 14th. Wells Fargo & Company reissued a “market perform” rating and issued a $63.00 target price (down previously from $67.00) on shares of Applied Industrial Technologies in a research report on Wednesday, July 12th. Northcoast Research assumed coverage on Applied Industrial Technologies in a research report on Tuesday, July 25th. They set a “neutral” rating for the company. Finally, BidaskClub lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Applied Industrial Technologies currently has an average rating of “Hold” and an average target price of $62.00.
Applied Industrial Technologies (NYSE AIT) opened at 54.40 on Friday. Applied Industrial Technologies has a 52-week low of $43.50 and a 52-week high of $69.00. The company’s 50-day moving average price is $57.19 and its 200-day moving average price is $60.42. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 16.00 and a beta of 0.95.
Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.56. The business had revenue of $681.47 million for the quarter, compared to the consensus estimate of $680.20 million. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. Equities research analysts expect that Applied Industrial Technologies will post $3.10 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Tuesday, August 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, August 11th. Applied Industrial Technologies’s payout ratio is 34.12%.
In related news, VP Mark O. Eisele sold 11,854 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $55.76, for a total value of $660,979.04. Following the transaction, the vice president now directly owns 147,029 shares of the company’s stock, valued at approximately $8,198,337.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Mark O. Eisele sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $56.92, for a total value of $341,520.00. Following the completion of the transaction, the vice president now directly owns 159,029 shares in the company, valued at $9,051,930.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,854 shares of company stock worth $1,339,159. 4.40% of the stock is owned by insiders.
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Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
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