Cwm LLC Has $54000 Position in Applied Industrial Technologies, Inc. (NYSE:AIT) – Defense World
Posted by admin on Jul 16th, 2022 
Cwm LLC increased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 61.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 526 shares of the industrial products company’s stock after purchasing an additional 201 shares during the period. Cwm LLC’s holdings in Applied Industrial Technologies were worth $54,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Applied Industrial Technologies by 19.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,611,855 shares of the industrial products company’s stock worth $370,938,000 after purchasing an additional 595,738 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Applied Industrial Technologies by 0.5% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,533,843 shares of the industrial products company’s stock valued at $157,526,000 after acquiring an additional 7,253 shares in the last quarter. State Street Corp raised its holdings in Applied Industrial Technologies by 1.8% in the 4th quarter. State Street Corp now owns 1,311,361 shares of the industrial products company’s stock valued at $134,677,000 after acquiring an additional 23,027 shares in the last quarter. Alliancebernstein L.P. raised its holdings in 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 acquiring an additional 941,429 shares in the last quarter. Finally, Palisade Capital Management LLC NJ raised its holdings in Applied Industrial Technologies by 0.8% in the 4th quarter. Palisade Capital Management LLC NJ now owns 754,262 shares of the industrial products company’s stock valued at $77,463,000 after acquiring an additional 5,723 shares in the last quarter. 92.88% of the stock is owned by institutional investors and hedge funds.
Separately, StockNews.com cut Applied Industrial Technologies from a “strong-buy” rating to a “buy” rating in a report on Thursday.
In other news, Director Peter C. Wallace sold 4,931 shares of Applied Industrial Technologies stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $105.06, for a total value of $518,050.86. Following the transaction, the director now owns 24,357 shares in the company, valued at approximately $2,558,946.42. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Peter C. Wallace sold 4,931 shares of the business’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $105.06, for a total transaction of $518,050.86. Following the sale, the director now owns 24,357 shares in the company, valued at approximately $2,558,946.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 13,488 shares of the business’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 sale, the chief executive officer now owns 274,213 shares in the company, valued at approximately $29,669,846.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,419 shares of company stock worth $2,519,802. Insiders own 2.40% of the company’s stock.
Shares of NYSE AIT opened at $90.45 on Friday. The stock has a market capitalization of $3.48 billion, a PE ratio of 14.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 1.87. The business has a fifty day moving average price of $98.63 and a two-hundred day moving average price of $99.71. Applied Industrial Technologies, Inc. has a fifty-two week low of $80.93 and a fifty-two week high of $111.68.
Applied Industrial Technologies (NYSE:AIT – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The industrial products company reported $1.75 earnings per share for the quarter. Applied Industrial Technologies had a return on equity of 23.58% and a net margin of 6.52%. The firm had revenue of $980.60 million during the quarter, compared to analysts’ expectations of $922.46 million. During the same period in the previous year, the firm earned $1.37 EPS. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts predict that Applied Industrial Technologies, Inc. will post 6.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Monday, August 15th will be paid a $0.34 dividend. The ex-dividend date is Friday, August 12th. This represents a $1.36 annualized dividend and a dividend yield of 1.50%. Applied Industrial Technologies’s payout ratio is 22.37%.
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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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