News

Jul 31, 2023

Robeco Schweiz AG Raises Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Robeco Schweiz AG grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 59.7% during the 1st quarter, according to the company in its most recent disclosure with the

Robeco Schweiz AG grew its position in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 59.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 329,700 shares of the industrial products company's stock after acquiring an additional 123,300 shares during the period. Robeco Schweiz AG owned about 0.85% of Applied Industrial Technologies worth $46,860,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Applied Industrial Technologies by 7.0% in the first quarter. BlackRock Inc. now owns 7,001,286 shares of the industrial products company's stock valued at $718,751,000 after purchasing an additional 459,302 shares during the period. Vanguard Group Inc. lifted its stake in shares of Applied Industrial Technologies by 2.9% in the third quarter. Vanguard Group Inc. now owns 4,863,708 shares of the industrial products company's stock valued at $499,893,000 after purchasing an additional 136,174 shares during the period. State Street Corp lifted its stake in shares of Applied Industrial Technologies by 0.7% in the third quarter. State Street Corp now owns 1,383,105 shares of the industrial products company's stock valued at $142,156,000 after purchasing an additional 10,144 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Applied Industrial Technologies by 0.7% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 1,287,246 shares of the industrial products company's stock valued at $162,232,000 after purchasing an additional 8,951 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of Applied Industrial Technologies by 5.0% in the fourth quarter. Macquarie Group Ltd. now owns 945,074 shares of the industrial products company's stock valued at $119,108,000 after purchasing an additional 44,714 shares during the period. Hedge funds and other institutional investors own 92.64% of the company's stock.

In other news, CEO Neil A. Schrimsher sold 1,655 shares of Applied Industrial Technologies stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $130.01, for a total transaction of $215,166.55. Following the completion of the sale, the chief executive officer now directly owns 316,563 shares in the company, valued at $41,156,355.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company's stock.

Several analysts recently commented on AIT shares. Robert W. Baird raised their price objective on shares of Applied Industrial Technologies from $160.00 to $161.00 in a research note on Friday, April 28th. StockNews.com initiated coverage on shares of Applied Industrial Technologies in a research report on Thursday, May 18th. They set a "buy" rating for the company.

Shares of NYSE AIT traded down $1.94 during midday trading on Friday, reaching $141.27. 193,015 shares of the stock were exchanged, compared to its average volume of 197,431. The company has a market capitalization of $5.46 billion, a P/E ratio of 16.82 and a beta of 1.21. Applied Industrial Technologies, Inc. has a 52-week low of $96.43 and a 52-week high of $150.07. The company has a current ratio of 3.14, a quick ratio of 2.04 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $139.64 and a 200-day moving average price of $136.86.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.99%. Applied Industrial Technologies's dividend payout ratio (DPR) is presently 16.45%.

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions 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, 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.

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