Wedge Capital Management L L P NC Grows Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Wedge Capital Management L L P NC boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 1.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,952 shares of the industrial products company’s stock after acquiring an additional 206 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Applied Industrial Technologies were worth $3,677,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AIT. Strs Ohio boosted its position in Applied Industrial Technologies by 1.0% in the 4th quarter. Strs Ohio now owns 40,200 shares of the industrial products company’s stock valued at $6,942,000 after buying an additional 400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Applied Industrial Technologies by 3.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,151 shares of the industrial products company’s stock valued at $1,408,000 after purchasing an additional 256 shares during the period. Federated Hermes Inc. grew its stake in Applied Industrial Technologies by 14.9% during the 4th quarter. Federated Hermes Inc. now owns 190,025 shares of the industrial products company’s stock worth $32,815,000 after purchasing an additional 24,631 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Applied Industrial Technologies during the 4th quarter worth about $393,000. Finally, Foundry Partners LLC raised its position in Applied Industrial Technologies by 39.5% in the 4th quarter. Foundry Partners LLC now owns 2,984 shares of the industrial products company’s stock valued at $515,000 after purchasing an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Activity

In related news, VP Jason W. Vasquez sold 650 shares of Applied Industrial Technologies stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total transaction of $127,861.50. Following the sale, the vice president now directly owns 22,960 shares in the company, valued at approximately $4,516,461.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Stock Up 0.7 %

Shares of Applied Industrial Technologies stock traded up $1.31 during trading on Thursday, hitting $200.23. 373,076 shares of the stock were exchanged, compared to its average volume of 304,173. Applied Industrial Technologies, Inc. has a 12-month low of $142.66 and a 12-month high of $223.15. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.77 and a quick ratio of 2.70. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 2.03 and a beta of 1.06. The firm’s 50-day moving average price is $196.20 and its 200 day moving average price is $191.97.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be given 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 0.74%. Applied Industrial Technologies’s dividend payout ratio is currently 15.51%.

Analyst Upgrades and Downgrades

Separately, Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating for the company.

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.