Maven Securities LTD Makes New Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

Maven Securities LTD bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,590 shares of the industrial products company’s stock, valued at approximately $381,000.

A number of other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC raised its position in Applied Industrial Technologies by 5,900.0% in the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 118 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new stake in shares of Applied Industrial Technologies during the fourth quarter worth about $44,000. Huntington National Bank grew its holdings in shares of Applied Industrial Technologies by 33.8% during the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock worth $45,000 after buying an additional 47 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Applied Industrial Technologies by 25.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 41 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIT has been the topic of several analyst reports. Robert W. Baird lifted their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Loop Capital cut their price objective on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Raymond James reaffirmed an “outperform” rating and issued a $250.00 target price (down previously from $265.00) on shares of Applied Industrial Technologies in a report on Friday, May 2nd. Finally, KeyCorp cut their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $285.00.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $231.69 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The firm has a market capitalization of $8.82 billion, a PE ratio of 23.47, a P/E/G ratio of 3.14 and a beta of 1.00. Applied Industrial Technologies, Inc. has a 1-year low of $181.35 and a 1-year high of $282.98. The business’s fifty day moving average price is $226.21 and its two-hundred day moving average price is $245.91.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.17. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.17 billion. Applied Industrial Technologies had a return on equity of 22.37% and a net margin of 8.62%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.48 EPS. On average, research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.79%. Applied Industrial Technologies’s dividend payout ratio is currently 18.47%.

Applied Industrial Technologies announced that its Board of Directors has initiated a share repurchase program on Thursday, May 1st that authorizes the company to buyback 1,500,000 outstanding shares. This buyback authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Applied Industrial Technologies 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.