Insider Selling: Applied Industrial Technologies, Inc. (AIT) VP Sells 6,000 Shares of Stock

Applied Industrial Technologies, Inc. (NYSE:AIT) VP Mark O. Eisele sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $56.11, for a total transaction of $336,660.00. Following the completion of the transaction, the vice president now directly owns 153,029 shares in the company, valued at approximately $8,586,457.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Applied Industrial Technologies, Inc. (NYSE:AIT) opened at 54.40 on Friday. The stock has a market cap of $2.12 billion, a P/E ratio of 16.00 and a beta of 0.95. Applied Industrial Technologies, Inc. has a 1-year low of $43.50 and a 1-year high of $69.00. The company has a 50-day moving average of $57.19 and a 200 day moving average of $60.42.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Friday, August 11th. The industrial products company reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.56. Applied Industrial Technologies had a net margin of 5.16% and a return on equity of 15.89%. The company had revenue of $681.47 million for the quarter, compared to analysts’ expectations of $680.20 million. During the same quarter in the prior year, the company posted $0.66 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up 7.5% compared to the same quarter last year. Analysts predict that Applied Industrial Technologies, Inc. will post $3.10 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be given a $0.29 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.16 dividend on an annualized basis and a yield of 2.13%. Applied Industrial Technologies’s payout ratio is currently 34.12%.

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Several research analysts recently commented on AIT shares. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. BidaskClub downgraded shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Northcoast Research started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $63.00 price target (down previously from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. One research 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. Applied Industrial Technologies has a consensus rating of “Hold” and a consensus target price of $62.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of AIT. Koch Industries Inc. bought a new position in Applied Industrial Technologies during the first quarter worth approximately $223,000. JPMorgan Chase & Co. raised its stake in shares of Applied Industrial Technologies by 3.7% in the first quarter. JPMorgan Chase & Co. now owns 1,913,244 shares of the industrial products company’s stock worth $118,335,000 after buying an additional 68,130 shares during the period. Acadian Asset Management LLC raised its stake in shares of Applied Industrial Technologies by 15.2% in the first quarter. Acadian Asset Management LLC now owns 192,384 shares of the industrial products company’s stock worth $11,898,000 after buying an additional 25,344 shares during the period. South Dakota Investment Council raised its stake in shares of Applied Industrial Technologies by 12.3% in the first quarter. South Dakota Investment Council now owns 9,100 shares of the industrial products company’s stock worth $563,000 after buying an additional 1,000 shares during the period. Finally, Mason Street Advisors LLC raised its stake in shares of Applied Industrial Technologies by 7.0% in the first quarter. Mason Street Advisors LLC now owns 9,117 shares of the industrial products company’s stock worth $564,000 after buying an additional 593 shares during the period. 87.61% of the stock is currently owned by institutional investors.

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.

Insider Buying and Selling by Quarter for Applied Industrial Technologies (NYSE:AIT)

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