FCA Corp TX Makes New Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

FCA Corp TX purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,274 shares of the industrial products company’s stock, valued at approximately $545,000.

Several other large investors have also recently made changes to their positions in the business. Arizona State Retirement System raised its stake in shares of Applied Industrial Technologies by 0.4% during the fourth quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company’s stock worth $2,672,000 after acquiring an additional 40 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Applied Industrial Technologies by 25.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after buying an additional 41 shares during the period. Versant Capital Management Inc increased its stake in shares of Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock worth $91,000 after buying an additional 55 shares during the period. CIBC Asset Management Inc increased its stake in shares of Applied Industrial Technologies by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company’s stock worth $289,000 after buying an additional 64 shares during the period. Finally, Coldstream Capital Management Inc. increased its stake in shares of Applied Industrial Technologies by 3.7% in the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock worth $429,000 after buying an additional 68 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on AIT shares. KeyCorp decreased their target price on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Raymond James reaffirmed an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $285.00 to $315.00 in a report on Tuesday, November 26th. Robert W. Baird lifted their price target on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $284.29.

Applied Industrial Technologies Price Performance

Shares of NYSE:AIT opened at $224.83 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98. The business has a 50-day simple moving average of $248.92 and a two-hundred day simple moving average of $243.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. The firm has a market cap of $8.63 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.84 annualized dividend and a dividend yield of 0.82%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. Applied Industrial Technologies’s dividend payout ratio is presently 18.64%.

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.