Applied Industrial Technologies (AIT) to Release Earnings on Thursday

Applied Industrial Technologies (NYSE:AIT) will be issuing its quarterly earnings data before the market opens on Thursday, August 15th. Analysts expect the company to announce earnings of $2.52 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Applied Industrial Technologies Trading Up 1.8 %

NYSE:AIT opened at $197.33 on Wednesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.70 and a current ratio of 3.77. The company has a market capitalization of $7.62 billion, a P/E ratio of 20.33, a P/E/G ratio of 2.03 and a beta of 1.06. The stock’s 50 day moving average price is $195.80 and its 200 day moving average price is $191.78. Applied Industrial Technologies has a 52 week low of $142.66 and a 52 week high of $223.15.

Applied Industrial Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Thursday, August 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.75%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 15.51%.

Insiders Place Their Bets

In other news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the transaction, the vice president now owns 22,960 shares of the company’s stock, valued at $4,516,461.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northcoast Research began coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $206.33.

About Applied Industrial Technologies

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.