Applied Industrial Technologies, Inc. (NYSE:AIT) Short Interest Update – MarketBeat

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Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 579,000 shares, a growth of 8.6% from the August 15th total of 533,200 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 164,400 shares, the short-interest ratio is currently 3.5 days.

Insider Buying and Selling

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 7,146 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $112.66, for a total value of $805,068.36. Following the completion of the sale, the vice president now directly owns 24,632 shares in the company, valued at $2,775,041.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Applied Industrial Technologies news, Director Vincent K. Petrella sold 3,114 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $114.76, for a total value of $357,362.64. Following the completion of the sale, the director now directly owns 18,666 shares in the company, valued at $2,142,110.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt W. Loring sold 7,146 shares of Applied Industrial Technologies stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $112.66, for a total transaction of $805,068.36. Following the transaction, the vice president now owns 24,632 shares of the company’s stock, valued at $2,775,041.12. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Institutional Trading of Applied Industrial Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its position in shares of Applied Industrial Technologies by 2.9% in the second quarter. Captrust Financial Advisors now owns 3,404 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 97 shares during the period. Louisiana State Employees Retirement System grew its stake in Applied Industrial Technologies by 0.5% during the first quarter. Louisiana State Employees Retirement System now owns 18,700 shares of the industrial products company’s stock valued at $1,927,000 after acquiring an additional 100 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Applied Industrial Technologies by 0.8% during the first quarter. Maryland State Retirement & Pension System now owns 15,421 shares of the industrial products company’s stock valued at $1,583,000 after acquiring an additional 121 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Applied Industrial Technologies by 38.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 141 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in Applied Industrial Technologies by 3.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,636 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 93.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AIT. StockNews.com upgraded shares of Applied Industrial Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 1st. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $120.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, August 12th. Finally, Robert W. Baird cut shares of Applied Industrial Technologies from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $115.00 to $129.00 in a report on Friday, August 12th.

Applied Industrial Technologies Stock Up 1.0 %

Applied Industrial Technologies stock traded up $1.04 during midday trading on Monday, hitting $105.49. 1,742 shares of the stock were exchanged, compared to its average volume of 170,057. Applied Industrial Technologies has a 52-week low of $80.93 and a 52-week high of $121.20. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 15.85 and a beta of 1.19. The business’s 50-day moving average price is $103.85 and its 200-day moving average price is $101.64. The company has a quick ratio of 1.82, a current ratio of 2.72 and a debt-to-equity ratio of 0.56.
Applied Industrial Technologies (NYSE:AIT – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The industrial products company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.66 by $0.36. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $977.43 million. Applied Industrial Technologies had a net margin of 6.76% and a return on equity of 24.25%. The company’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.51 earnings per share. On average, research analysts expect that Applied Industrial Technologies will post 7.3 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th were given a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.29%. The ex-dividend date was Friday, August 12th. Applied Industrial Technologies’s dividend payout ratio is 20.64%.

Applied Industrial Technologies Company Profile

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Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions 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, 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.

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