Mountain Pacific Investment Advisers LLC Has $11.05 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Mountain Pacific Investment Advisers LLC boosted its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 36.6% in the fourth quarter, HoldingsChannel reports. The firm owned 46,155 shares of the industrial products company’s stock after acquiring an additional 12,364 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Applied Industrial Technologies were worth $11,053,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Applied Industrial Technologies during the third quarter worth $34,000. First Horizon Advisors Inc. lifted its position in Applied Industrial Technologies by 106.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 171 shares of the industrial products company’s stock worth $38,000 after buying an additional 88 shares in the last quarter. Quarry LP bought a new stake in Applied Industrial Technologies during the 2nd quarter worth about $39,000. UMB Bank n.a. increased its position in Applied Industrial Technologies by 68.1% in the 3rd quarter. UMB Bank n.a. now owns 190 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 77 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Applied Industrial Technologies by 42.6% in the second quarter. EverSource Wealth Advisors LLC now owns 435 shares of the industrial products company’s stock worth $84,000 after acquiring an additional 130 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Mizuho started coverage on shares of Applied Industrial Technologies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target on the stock. Loop Capital increased their price objective on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. KeyCorp boosted their target price on Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Raymond James raised their price target on Applied Industrial Technologies from $225.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Robert W. Baird boosted their price objective on Applied Industrial Technologies from $210.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $285.71.

Applied Industrial Technologies Stock Up 0.7 %

Shares of NYSE AIT opened at $257.21 on Tuesday. The firm has a 50 day moving average price of $259.07 and a 200 day moving average price of $229.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.74 and a current ratio of 3.78. The stock has a market cap of $9.89 billion, a P/E ratio of 26.25, a P/E/G ratio of 3.36 and a beta of 1.08. Applied Industrial Technologies, Inc. has a 52-week low of $168.64 and a 52-week high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.11. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Applied Industrial Technologies had a net margin of 8.57% and a return on equity of 22.68%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.39 EPS. Analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Friday, November 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 15.10%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total value of $1,126,560.00. Following the sale, the vice president now owns 55,709 shares of the company’s stock, valued at $15,689,882.76. This trade represents a 6.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary Dean Hall sold 2,200 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total value of $605,176.00. Following the transaction, the director now directly owns 3,462 shares of the company’s stock, valued at $952,326.96. This represents a 38.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.67% of the stock is owned by insiders.

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.