Amalgamated Bank Purchases 71 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Amalgamated Bank grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,670 shares of the industrial products company’s stock after buying an additional 71 shares during the quarter. Amalgamated Bank’s holdings in Applied Industrial Technologies were worth $4,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AIT. Versant Capital Management Inc lifted its stake in Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 55 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Applied Industrial Technologies by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 1,206 shares of the industrial products company’s stock valued at $289,000 after purchasing an additional 64 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of Applied Industrial Technologies by 3.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 68 shares during the period. Chartwell Investment Partners LLC boosted its stake in shares of Applied Industrial Technologies by 0.8% during the third quarter. Chartwell Investment Partners LLC now owns 10,602 shares of the industrial products company’s stock valued at $2,365,000 after purchasing an additional 85 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in Applied Industrial Technologies by 106.0% during the third quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock valued at $38,000 after buying an additional 88 shares during the period. Institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 2.5 %

Applied Industrial Technologies stock opened at $250.79 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.55 and a current ratio of 3.76. The stock has a market cap of $9.62 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 3.14 and a beta of 1.08. The stock has a 50-day moving average of $253.61 and a two-hundred day moving average of $241.01. Applied Industrial Technologies, Inc. has a one year low of $177.68 and a one year high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.46 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s payout ratio is presently 18.64%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AIT. Robert W. Baird upped their target price on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. KeyCorp upped their price objective on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Raymond James reiterated an “outperform” rating and issued a $265.00 target price (up previously from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $285.00 to $315.00 in a report on Tuesday, November 26th. Finally, Oppenheimer raised their price target on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $291.43.

About Applied Industrial Technologies

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.