24,170 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Acquired by SG Capital Management LLC

SG Capital Management LLC purchased a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,170 shares of the industrial products company’s stock, valued at approximately $4,775,000. Applied Industrial Technologies comprises 1.6% of SG Capital Management LLC’s holdings, making the stock its 24th largest holding. SG Capital Management LLC owned 0.06% of Applied Industrial Technologies as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Applied Industrial Technologies by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock valued at $875,912,000 after purchasing an additional 14,858 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Applied Industrial Technologies by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock valued at $163,575,000 after purchasing an additional 21,276 shares during the last quarter. Boston Trust Walden Corp boosted its stake in Applied Industrial Technologies by 5.4% during the 4th quarter. Boston Trust Walden Corp now owns 625,452 shares of the industrial products company’s stock valued at $108,009,000 after purchasing an additional 32,282 shares during the last quarter. Capital Research Global Investors boosted its stake in Applied Industrial Technologies by 978.3% during the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock valued at $96,646,000 after purchasing an additional 507,750 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Applied Industrial Technologies by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 559,037 shares of the industrial products company’s stock valued at $96,540,000 after purchasing an additional 11,092 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In related news, VP Jason W. Vasquez sold 650 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $196.71, for a total value of $127,861.50. Following the transaction, the vice president now directly owns 22,960 shares of the company’s stock, valued at approximately $4,516,461.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Northcoast Research assumed coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating on the stock. KeyCorp increased their target price on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $201.00.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT traded down $6.61 during midday trading on Friday, hitting $199.22. 321,201 shares of the stock traded hands, compared to its average volume of 298,099. The firm has a 50-day moving average of $195.48 and a two-hundred day moving average of $190.64. The firm has a market capitalization of $7.69 billion, a P/E ratio of 20.88, a PEG ratio of 2.03 and a beta of 1.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77. Applied Industrial Technologies, Inc. has a one year low of $138.38 and a one year high of $223.15.

Applied Industrial Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.74%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. 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.