Csenge Advisory Group Grows Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Csenge Advisory Group boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,717 shares of the industrial products company’s stock after acquiring an additional 538 shares during the quarter. Csenge Advisory Group’s holdings in Applied Industrial Technologies were worth $915,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Applied Industrial Technologies by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 5,072,162 shares of the industrial products company’s stock worth $875,912,000 after purchasing an additional 14,858 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Applied Industrial Technologies by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 947,207 shares of the industrial products company’s stock worth $163,575,000 after buying an additional 21,276 shares during the last quarter. Capital Research Global Investors lifted its holdings in Applied Industrial Technologies by 978.3% during the 4th quarter. Capital Research Global Investors now owns 559,649 shares of the industrial products company’s stock worth $96,646,000 after buying an additional 507,750 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Applied Industrial Technologies by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 559,037 shares of the industrial products company’s stock worth $96,540,000 after acquiring an additional 11,092 shares in the last quarter. Finally, Fiduciary Management Inc. WI increased its holdings in shares of Applied Industrial Technologies by 3.2% in the 4th quarter. Fiduciary Management Inc. WI now owns 519,224 shares of the industrial products company’s stock valued at $89,665,000 after acquiring an additional 15,928 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. KeyCorp upped their price target on Applied Industrial Technologies from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Northcoast Research started coverage on shares of Applied Industrial Technologies in a research report on Monday, July 1st. They set a “neutral” rating for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.

Insider Transactions at Applied Industrial Technologies

In related news, VP Jason W. Vasquez sold 650 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $196.71, for a total value of $127,861.50. Following the completion of the sale, the vice president now owns 22,960 shares in the company, valued at approximately $4,516,461.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Stock Up 2.0 %

Shares of NYSE AIT opened at $196.76 on Friday. The business has a 50-day moving average price of $195.47 and a 200 day moving average price of $191.26. The stock has a market cap of $7.60 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.06. The company has a quick ratio of 2.70, a current ratio of 3.77 and a debt-to-equity ratio of 0.34. Applied Industrial Technologies, Inc. has a 52-week low of $141.55 and a 52-week high of $223.15.

Applied Industrial Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be issued a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 0.75%. The ex-dividend date of this dividend is Thursday, August 15th. Applied Industrial Technologies’s payout ratio is currently 15.51%.

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.