Homestead Advisers Corp Has $8.14 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Homestead Advisers Corp raised its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 4.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,126 shares of the industrial products company's stock after acquiring an additional 1,500 shares during the quarter. Homestead Advisers Corp owned approximately 0.09% of Applied Industrial Technologies worth $8,141,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Applied Industrial Technologies by 51.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 130 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 44 shares during the period. Harbor Investment Advisory LLC increased its position in Applied Industrial Technologies by 97.5% during the first quarter. Harbor Investment Advisory LLC now owns 160 shares of the industrial products company's stock worth $36,000 after buying an additional 79 shares during the last quarter. Wayfinding Financial LLC bought a new stake in Applied Industrial Technologies in the first quarter valued at approximately $38,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the first quarter valued at approximately $41,000. Finally, Huntington National Bank boosted its stake in shares of Applied Industrial Technologies by 33.8% during the 4th quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock worth $45,000 after acquiring an additional 47 shares during the period. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Stock Performance

NYSE AIT traded up $2.76 on Friday, reaching $270.83. The stock had a trading volume of 57,523 shares, compared to its average volume of 418,221. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.57 and a quick ratio of 2.51. The company has a market cap of $10.31 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 3.25 and a beta of 0.91. The firm has a fifty day moving average of $238.06 and a two-hundred day moving average of $238.77. Applied Industrial Technologies, Inc. has a 1-year low of $188.71 and a 1-year high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.17. Applied Industrial Technologies had a net margin of 8.64% and a return on equity of 22.01%. The company had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter in the previous year, the business posted $2.48 earnings per share. Applied Industrial Technologies's quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies announced that its Board of Directors has initiated a share buyback 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.68%. Applied Industrial Technologies's payout ratio is 18.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Loop Capital dropped their price target on Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Raymond James Financial reiterated an "outperform" rating and issued a $250.00 price objective (down from $265.00) on shares of Applied Industrial Technologies in a report on Friday, May 2nd. Finally, Wall Street Zen cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, Applied Industrial Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $285.00.

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.