Wedge Capital Management L L P NC Purchases 383 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT) – Defense World
Posted by admin on Jun 26th, 2022 
Wedge Capital Management L L P NC raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 11.3% in the 1st quarter, Holdings Channel reports. The firm owned 3,775 shares of the industrial products company’s stock after buying an additional 383 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Applied Industrial Technologies were worth $388,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Moors & Cabot Inc. bought a new position in Applied Industrial Technologies in the 3rd quarter valued at $4,779,000. UBS Asset Management Americas Inc. lifted its holdings in shares of Applied Industrial Technologies by 13.2% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 49,525 shares of the industrial products company’s stock worth $4,464,000 after acquiring an additional 5,760 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Applied Industrial Technologies by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 401,800 shares of the industrial products company’s stock worth $41,265,000 after acquiring an additional 4,001 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Applied Industrial Technologies by 4.8% during the 4th quarter. Nuveen Asset Management LLC now owns 550,963 shares of the industrial products company’s stock worth $56,583,000 after acquiring an additional 24,996 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 595,738 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.
In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 13,488 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $108.20, for a total value of $1,459,401.60. Following the transaction, the chief executive officer now owns 274,213 shares in the company, valued at $29,669,846.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Wallace sold 5,000 shares of the stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $108.47, for a total transaction of $542,350.00. Following the sale, the director now owns 19,357 shares of the company’s stock, valued at $2,099,653.79. The disclosure for this sale can be found here. Insiders sold 23,419 shares of company stock valued at $2,519,802 over the last three months. 2.40% of the stock is currently owned by insiders.
NYSE AIT opened at $95.01 on Friday. Applied Industrial Technologies, Inc. has a 52-week low of $80.93 and a 52-week high of $111.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.87 and a current ratio of 2.79. The company has a market capitalization of $3.65 billion, a P/E ratio of 15.63 and a beta of 1.28. The company has a fifty day moving average of $101.30 and a 200-day moving average of $100.53.
Applied Industrial Technologies (NYSE:AIT – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The industrial products company reported $1.75 earnings per share for the quarter. The business had revenue of $980.60 million during the quarter, compared to the consensus estimate of $922.46 million. Applied Industrial Technologies had a net margin of 6.52% and a return on equity of 23.58%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.37 earnings per share. As a group, analysts forecast that Applied Industrial Technologies, Inc. will post 6.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Monday, August 15th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, August 12th. Applied Industrial Technologies’s dividend payout ratio is presently 22.37%.
Separately, StockNews.com raised shares of Applied Industrial Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 19th.
Applied Industrial Technologies Profile (Get Rating)
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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