Fruth Investment Management Has $1.68 Million Holdings in Applied Industrial Technologies (AIT)

Fruth Investment Management raised its stake in Applied Industrial Technologies (NYSE:AIT) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,700 shares of the industrial products company’s stock after buying an additional 4,100 shares during the quarter. Fruth Investment Management owned approximately 0.06% of Applied Industrial Technologies worth $1,682,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AIT. Macquarie Group Ltd. grew its holdings in shares of Applied Industrial Technologies by 8.3% during the 2nd quarter. Macquarie Group Ltd. now owns 558,691 shares of the industrial products company’s stock worth $32,991,000 after purchasing an additional 42,769 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Applied Industrial Technologies during the 3rd quarter worth $6,343,000. Parametrica Management Ltd purchased a new position in shares of Applied Industrial Technologies during the 3rd quarter worth $648,000. 361 Capital LLC purchased a new position in shares of Applied Industrial Technologies during the 3rd quarter worth $2,006,000. Finally, Rhumbline Advisers grew its holdings in shares of Applied Industrial Technologies by 2.1% during the 3rd quarter. Rhumbline Advisers now owns 82,636 shares of the industrial products company’s stock worth $5,437,000 after purchasing an additional 1,695 shares during the period. Institutional investors own 87.90% of the company’s stock.

Applied Industrial Technologies (AIT) traded down $0.80 on Tuesday, reaching $70.20. The company had a trading volume of 248,200 shares, compared to its average volume of 297,467. Applied Industrial Technologies has a 1 year low of $54.00 and a 1 year high of $71.60. The company has a current ratio of 3.13, a quick ratio of 1.83 and a debt-to-equity ratio of 0.37. The firm has a market cap of $2,724.83, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.79 and a beta of 0.93.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, October 25th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. Applied Industrial Technologies had a return on equity of 16.25% and a net margin of 5.29%. The firm had revenue of $680.70 million for the quarter, compared to analyst estimates of $668.18 million. During the same quarter in the prior year, the company earned $0.70 EPS. Applied Industrial Technologies’s revenue was up 8.9% on a year-over-year basis. research analysts anticipate that Applied Industrial Technologies will post 3.26 earnings per share for the current year.

AIT has been the subject of a number of research analyst reports. ValuEngine cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Zacks Investment Research lowered Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Wellington Shields raised Applied Industrial Technologies from a “hold” rating to a “gradually accumulate” rating in a research note on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $70.50.

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Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.

Institutional Ownership by Quarter for Applied Industrial Technologies (NYSE:AIT)

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