49,851 Shares in Applied Industrial Technologies, Inc. (NYSE:AIT) Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 49,851 shares of the industrial products company's stock, valued at approximately $11,938,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.13% of Applied Industrial Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Larson Financial Group LLC increased its holdings in Applied Industrial Technologies by 5,900.0% during 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 in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $30,000. SBI Securities Co. Ltd. bought a new stake in shares of Applied Industrial Technologies during the fourth quarter worth $44,000. Huntington National Bank increased its stake in shares of Applied Industrial Technologies by 33.8% in the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company's stock valued at $45,000 after buying an additional 47 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings 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 valued at $49,000 after buying an additional 41 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Trading Up 0.1%

NYSE:AIT traded up $0.31 on Wednesday, hitting $230.32. 63,126 shares of the stock were exchanged, compared to its average volume of 309,504. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. Applied Industrial Technologies, Inc. has a 52 week low of $181.35 and a 52 week high of $282.98. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 3.14 and a beta of 1.00. The company's 50-day moving average price is $226.02 and its 200 day moving average price is $243.27.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.17 billion. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. The business's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.48 earnings per share. On average, equities research analysts forecast that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Thursday, May 15th. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 18.47%.

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

Analyst Ratings Changes

A number of brokerages have commented on AIT. Raymond James reissued an "outperform" rating and set a $250.00 price objective (down previously from $265.00) on shares of Applied Industrial Technologies in a report on Friday, May 2nd. KeyCorp reduced 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 report on Monday, March 17th. Finally, Loop Capital lowered their price target on shares of Applied Industrial Technologies from $320.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Applied Industrial Technologies presently has an average rating of "Moderate Buy" and an average target price of $285.00.

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.