Mutual of America Capital Management LLC Has $569,000 Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

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Mutual of America Capital Management LLC raised its stake in Applied Industrial Technologies, Inc. (NYSE:AITGet Rating) by 5.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,542 shares of the industrial products company’s stock after acquiring an additional 288 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Applied Industrial Technologies were worth $569,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in Applied Industrial Technologies in the 4th quarter valued at about $30,000. CWM LLC acquired a new stake in Applied Industrial Technologies in the 4th quarter valued at about $33,000. Rockefeller Capital Management L.P. increased its position in Applied Industrial Technologies by 38.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 509 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 141 shares in the last quarter. Gladius Capital Management LP acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $89,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Applied Industrial Technologies during the 4th quarter worth approximately $93,000. Institutional investors and hedge funds own 92.88% of the company’s stock.

Insider Transactions at Applied Industrial Technologies

In related news, Director Peter C. Wallace sold 4,931 shares of the business’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $105.06, for a total transaction of $518,050.86. Following the transaction, the director now directly owns 24,357 shares in the company, valued at $2,558,946.42. The sale was disclosed in a filing with the SEC, which is available through this link. In other Applied Industrial Technologies news, Director Peter C. Wallace sold 4,931 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $105.06, for a total value of $518,050.86. Following the transaction, the director now directly owns 24,357 shares in the company, valued at $2,558,946.42. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil A. Schrimsher sold 13,488 shares of the company’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $108.20, for a total transaction of $1,459,401.60. Following the completion of the transaction, the chief executive officer now owns 274,213 shares in the company, valued at $29,669,846.60. The disclosure for this sale can be found here. Insiders have sold a total of 23,419 shares of company stock valued at $2,519,802 over the last 90 days. 2.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Applied Industrial Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 14th.

Applied Industrial Technologies Stock Up 1.7 %

Shares of NYSE:AIT opened at $100.59 on Friday. Applied Industrial Technologies, Inc. has a one year low of $80.93 and a one year high of $111.68. The company has a 50 day moving average of $96.87 and a 200-day moving average of $99.24. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.79 and a quick ratio of 1.87. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 16.54 and a beta of 1.26.

Applied Industrial Technologies (NYSE:AITGet Rating) last announced its quarterly earnings results on Thursday, April 28th. The industrial products company reported $1.75 earnings per share for the quarter. Applied Industrial Technologies had a net margin of 6.52% and a return on equity of 23.58%. The firm had revenue of $980.60 million for the quarter, compared to analyst estimates of $922.46 million. During the same quarter in the previous year, the firm posted $1.37 earnings per share. The business’s revenue was up 16.6% on a year-over-year basis. On average, sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 6.24 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Monday, August 15th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, August 12th. Applied Industrial Technologies’s dividend payout ratio is presently 22.37%.

Applied Industrial Technologies Profile

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Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. It operates through two segments, Service Center Based Distribution, and Fluid Power & Flow Control. 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, 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, as well as other related supplies for general operational needs of customers’ machinery and equipment.

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