Counterpoint Mutual Funds LLC Makes New $327,000 Investment in Applied Industrial Technologies, Inc. (NYSE:AIT)

Counterpoint Mutual Funds LLC acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,364 shares of the industrial products company’s stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors have also bought and sold shares of AIT. Arizona State Retirement System raised its position in shares of Applied Industrial Technologies by 0.4% in the 4th quarter. Arizona State Retirement System now owns 11,156 shares of the industrial products company’s stock valued at $2,672,000 after buying an additional 40 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Applied Industrial Technologies by 25.3% in the 4th 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 in the last quarter. Versant Capital Management Inc raised its position in shares of Applied Industrial Technologies by 16.8% in the 4th quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after buying an additional 55 shares in the last quarter. CIBC Asset Management Inc raised its position 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 buying an additional 64 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised 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 valued at $429,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Up 1.1 %

AIT opened at $227.14 on Tuesday. Applied Industrial Technologies, Inc. has a fifty-two week low of $177.68 and a fifty-two week high of $282.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.76 and a quick ratio of 2.55. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 3.14 and a beta of 1.08. The company’s 50 day moving average price is $250.57 and its two-hundred day moving average price is $243.58.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. As a group, research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.46 dividend. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.81%. The ex-dividend date was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is currently 18.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. KeyCorp lowered their price objective on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday. Bank of America upgraded shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $285.00 to $315.00 in a research report on Tuesday, November 26th. Raymond James reiterated an “outperform” rating and set a $265.00 price objective (up from $250.00) on shares of Applied Industrial Technologies in a research report on Thursday, January 30th. Finally, Robert W. Baird upped their price objective on shares of Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.29.

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.