Ifrah Financial Services Inc. Buys Shares of 2,736 Applied Industrial Technologies (AIT)

Ifrah Financial Services Inc. bought a new position in Applied Industrial Technologies (NYSE:AIT) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,736 shares of the industrial products company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. WINTON GROUP Ltd acquired a new position in Applied Industrial Technologies in the 3rd quarter worth $385,000. American Century Companies Inc. boosted its stake in Applied Industrial Technologies by 1.2% in the 3rd quarter. American Century Companies Inc. now owns 129,302 shares of the industrial products company’s stock worth $10,118,000 after purchasing an additional 1,546 shares during the period. Smith Asset Management Group LP boosted its stake in Applied Industrial Technologies by 4.3% in the 3rd quarter. Smith Asset Management Group LP now owns 33,672 shares of the industrial products company’s stock worth $2,635,000 after purchasing an additional 1,390 shares during the period. Victory Capital Management Inc. boosted its stake in Applied Industrial Technologies by 1.4% in the 3rd quarter. Victory Capital Management Inc. now owns 672,829 shares of the industrial products company’s stock worth $52,649,000 after purchasing an additional 9,528 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Applied Industrial Technologies in the 3rd quarter worth $1,229,000. 89.36% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:AIT opened at $69.93 on Thursday. The company has a current ratio of 2.76, a quick ratio of 1.67 and a debt-to-equity ratio of 1.09. Applied Industrial Technologies has a one year low of $59.65 and a one year high of $82.35. The stock has a market cap of $2.60 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 1.17 and a beta of 1.12.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Wednesday, October 31st. The industrial products company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.12 by $0.12. Applied Industrial Technologies had a net margin of 4.82% and a return on equity of 19.66%. The firm had revenue of $864.50 million for the quarter, compared to analysts’ expectations of $874.74 million. During the same period in the previous year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 27.0% on a year-over-year basis. As a group, equities analysts forecast that Applied Industrial Technologies will post 4.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Thursday, November 15th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, November 14th. This represents a $1.20 annualized dividend and a yield of 1.72%. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 32.09%.

In other Applied Industrial Technologies news, Director L Thomas Hiltz sold 12,500 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $77.15, for a total transaction of $964,375.00. Following the sale, the director now directly owns 1,544 shares of the company’s stock, valued at approximately $119,119.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company’s stock.

AIT has been the subject of a number of research analyst reports. Wells Fargo & Co reduced their target price on shares of Applied Industrial Technologies from $80.00 to $75.00 and set a “market perform” rating for the company in a research note on Thursday, November 1st. Wellington Shields raised shares of Applied Industrial Technologies from a “gradually accumulate” rating to a “buy” rating in a research note on Monday, August 13th. Northcoast Research reaffirmed a “neutral” rating on shares of Applied Industrial Technologies in a research note on Friday, August 10th. Zacks Investment Research lowered shares of Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, ValuEngine raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $79.00.

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About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.

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

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