According to Zacks, “Applied Industrial Technologies is one of North America’s leading distributors of bearings, linear technologies, power transmission components, rubber products, specialty maintenance items and electrical/mechanical and fluid power products and systems to the MRO (maintenance and repair operations) and OEM (original equipment manufacturer) markets. The company offers products to a broad cross-section of U.S. industries. “
Separately, Wells Fargo & Co. reaffirmed a hold rating on shares of Applied Industrial Technologies in a research note on Sunday, September 4th.
Applied Industrial Technologies (NYSE:AIT) opened at 45.27 on Friday. The firm has a 50-day moving average price of $46.62 and a 200 day moving average price of $45.79. The firm has a market capitalization of $1.77 billion, a P/E ratio of 60.36 and a beta of 1.13. Applied Industrial Technologies has a 52-week low of $35.55 and a 52-week high of $48.61.
Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Friday, August 12th. The company reported $0.66 EPS for the quarter, meeting analysts’ consensus estimates of $0.66. The business had revenue of $63 million for the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.70 earnings per share. Analysts forecast that Applied Industrial Technologies will post $2.52 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acrospire Investment Management LLC raised its position in Applied Industrial Technologies by 53.3% in the second quarter. Acrospire Investment Management LLC now owns 2,300 shares of the company’s stock worth $104,000 after buying an additional 800 shares in the last quarter. Smith Asset Management Group LP bought a new position in Applied Industrial Technologies during the second quarter worth about $113,000. BlackRock Inc. raised its position in Applied Industrial Technologies by 116.4% in the first quarter. BlackRock Inc. now owns 2,798 shares of the company’s stock worth $121,000 after buying an additional 1,505 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in Applied Industrial Technologies by 358.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 4,035 shares of the company’s stock worth $182,000 after buying an additional 3,155 shares in the last quarter. Finally, Invictus RG raised its position in Applied Industrial Technologies by 263.2% in the first quarter. Invictus RG now owns 4,693 shares of the company’s stock worth $204,000 after buying an additional 3,401 shares in the last quarter. Institutional investors and hedge funds own 89.33% of the company’s stock.
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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