Applied Industrial Technologies, Inc. (NYSE:AIT) Stock Holdings Lifted by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC lifted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 44.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,835 shares of the industrial products company's stock after purchasing an additional 7,345 shares during the period. Applied Industrial Technologies makes up 1.6% of Lisanti Capital Growth LLC's holdings, making the stock its 15th biggest holding. Lisanti Capital Growth LLC owned approximately 0.06% of Applied Industrial Technologies worth $5,371,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in Applied Industrial Technologies by 6.6% in the first quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company's stock valued at $1,183,000 after purchasing an additional 323 shares in the last quarter. Spire Wealth Management boosted its holdings in shares of Applied Industrial Technologies by 11.3% in the 1st quarter. Spire Wealth Management now owns 2,583 shares of the industrial products company's stock valued at $582,000 after buying an additional 262 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in Applied Industrial Technologies by 34.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,938 shares of the industrial products company's stock worth $887,000 after acquiring an additional 1,014 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Applied Industrial Technologies by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 4,490 shares of the industrial products company's stock worth $1,011,000 after acquiring an additional 105 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Applied Industrial Technologies in the fourth quarter valued at $44,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Up 3.9%

Shares of AIT stock traded up $9.14 during trading hours on Tuesday, reaching $241.59. The company had a trading volume of 212,769 shares, compared to its average volume of 342,301. The stock's fifty day simple moving average is $229.24 and its 200 day simple moving average is $237.40. The company has a market capitalization of $9.20 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 2.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.51 and a current ratio of 3.57. Applied Industrial Technologies, Inc. has a twelve month low of $182.21 and a twelve month high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $2.57 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $1.17 billion. During the same period last year, the business earned $2.48 EPS. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies declared that its board has initiated a share repurchase program on Thursday, May 1st that permits the company to buyback 1,500,000 outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, August 15th. Applied Industrial Technologies's payout ratio is currently 18.47%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Loop Capital lowered their target price on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Raymond James Financial reaffirmed an "outperform" rating and issued a $250.00 target price (down from $265.00) on shares of Applied Industrial Technologies in a report on Friday, May 2nd. Wall Street Zen raised Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Sunday, June 22nd. Finally, KeyCorp reduced their price objective on Applied Industrial Technologies from $325.00 to $275.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price 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.