Applied Industrial Technologies, Inc. (NYSE:AIT) Stake Raised by State Street Corp

Paterniano Del Favero
Luglio 24, 2017

According to Zacks, analysts expect that Applied Industrial Technologies will report full year sales of $659.30 million for the current year, with estimates ranging from $2.52 billion to $2.59 billion.

A number of other institutional investors also recently modified their holdings of AIT. Bank of America Corp DE increased its position in shares of Applied Industrial Technologies by 80.2% in the first quarter. FMR LLC now owns 1,115,494 shares of the biotechnology company's stock worth $10,430,000 after buying an additional 24,864 shares during the period. Quantitative Systematic Strategies LLC bought a new position in shares of Applied Industrial Technologies during the second quarter worth about $225,000. Acadian Asset Management LLC now owns 192,384 shares of the industrial products company's stock valued at $11,898,000 after buying an additional 25,344 shares during the period. State Street Corp increased its position in shares of Applied Genetic Technologies Corporation by 1.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 279,304 shares of the industrial products company's stock valued at $17,275,000 after buying an additional 23,876 shares during the last quarter.

Applied Industrial Technologies's P/E ratio is 20.91 and market cap is 2.22B. Vanguard Group Inc. now owns 3,495,544 shares of the industrial products company's stock valued at $216,199,000 after buying an additional 174,201 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Applied Industrial Technologies by 11.1% in the first quarter.

Shares of Applied Industrial Technologies, Inc.

Shares of the company are trading at $56.80 marginally under the 50 day moving average which is $59.72 and barely below the 200 day moving average of $61.22. 120,530 shares of the company traded hands. Applied Industrial Technologies has a 52-week low of $43.50 and a 52-week high of $69.00.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, April 27th. The industrial products company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.12.

This table compares Applied Industrial Technologies and Fastenal Company's net margins, return on equity and return on assets. The company had revenue of $679.30 million for the quarter, compared to analyst estimates of $637.30 million. During the same period past year, the firm posted $0.61 earnings per share. Applied Industrial Technologies's revenue for the quarter was up 7.3% compared to the same quarter a year ago. Applied Industrial Technologies is trading at a lower price-to-earnings ratio than Fastenal Company, indicating that it is now the more affordable of the two stocks.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a $0.29 dividend. The ex-dividend date is Friday, August 11th. This dividend represents a yeild of $2.02 which is the dividend as a percentage of the current share price. Applied Industrial Technologies's payout ratio is now 42.65%. Applied Industrial Technologies pays out 42.6% of its earnings in the form of a dividend.

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Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, fix and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

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