Strs Ohio reduced its stake in shares of Applied Industrial Technologies Inc. (NYSE:AIT) by 4.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,200 shares of the company’s stock after selling 1,100 shares during the period. Strs Ohio’s holdings in Applied Industrial Technologies were worth $1,092,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in AIT. Smith Asset Management Group LP acquired a new position in Applied Industrial Technologies during the second quarter valued at approximately $113,000. BlackRock Inc. boosted its stake in Applied Industrial Technologies by 116.4% in the first quarter. BlackRock Inc. now owns 2,798 shares of the company’s stock valued at $121,000 after buying an additional 1,505 shares in the last quarter. Invictus RG boosted its stake in Applied Industrial Technologies by 263.2% in the first quarter. Invictus RG now owns 4,693 shares of the company’s stock valued at $204,000 after buying an additional 3,401 shares in the last quarter. Menta Capital LLC purchased a new stake in Applied Industrial Technologies during the first quarter valued at $267,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Applied Industrial Technologies by 92.4% in the second quarter. BNP Paribas Arbitrage SA now owns 13,220 shares of the company’s stock valued at $597,000 after buying an additional 6,349 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.
Applied Industrial Technologies Inc. (NYSE:AIT) traded down 0.15% on Friday, hitting $45.48. 112,090 shares of the stock were exchanged. The company has a 50-day moving average price of $46.74 and a 200-day moving average price of $45.74. Applied Industrial Technologies Inc. has a 52-week low of $35.55 and a 52-week high of $48.61. The firm has a market cap of $1.78 billion, a PE ratio of 60.64 and a beta of 1.13.
Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Friday, August 12th. The company reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. The company had revenue of $63 million for the quarter, compared to analysts’ expectations of $643.13 million. Applied Industrial Technologies had a return on equity of 14.56% and a net margin of 1.17%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS. On average, equities research analysts anticipate that Applied Industrial Technologies Inc. will post $2.52 EPS for the current fiscal year.
Several research firms recently weighed in on AIT. Zacks Investment Research raised shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research report on Friday. Wells Fargo & Co. reaffirmed a “hold” rating on shares of Applied Industrial Technologies in a research report on Sunday, September 4th.
About Applied Industrial Technologies
Applied Industrial Technologies Inc is a distributor and supplier of industrial products. The Company’s industry products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and other industrial and maintenance supplies.
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