Acadian Asset Management LLC decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 72.6% during the second quarter, Holdings Channel reports. The firm owned 52,672 shares of the industrial products company’s stock after selling 139,712 shares during the period. Acadian Asset Management LLC’s holdings in Applied Industrial Technologies were worth $3,110,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of AIT. BlackRock Inc. increased its position in shares of Applied Industrial Technologies by 84,093.2% in the first quarter. BlackRock Inc. now owns 5,566,855 shares of the industrial products company’s stock worth $344,310,000 after buying an additional 5,560,243 shares during the period. Vanguard Group Inc. increased its position in shares of Applied Industrial Technologies by 5.2% in the first quarter. Vanguard Group Inc. now owns 3,495,544 shares of the industrial products company’s stock worth $216,199,000 after buying an additional 174,201 shares during the period. JPMorgan Chase & Co. increased its position in shares of Applied Industrial Technologies by 3.7% in the first quarter. JPMorgan Chase & Co. now owns 1,913,244 shares of the industrial products company’s stock worth $118,335,000 after buying an additional 68,130 shares during the period. State Street Corp increased its position in shares of Applied Industrial Technologies by 6.3% in the first quarter. State Street Corp now owns 902,199 shares of the industrial products company’s stock worth $55,799,000 after buying an additional 53,457 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Applied Industrial Technologies by 27.2% in the first quarter. Bank of New York Mellon Corp now owns 755,638 shares of the industrial products company’s stock worth $46,736,000 after buying an additional 161,540 shares during the period. 87.43% of the stock is currently owned by institutional investors.
Applied Industrial Technologies, Inc. (NYSE:AIT) traded up 1.82% during midday trading on Friday, hitting $56.00. 373,528 shares of the stock were exchanged. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 20.56 and a beta of 0.95. The firm has a 50 day moving average of $58.51 and a 200-day moving average of $61.01. Applied Industrial Technologies, Inc. has a 12-month low of $43.50 and a 12-month high of $69.00.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $1.16 annualized dividend and a dividend yield of 2.07%. Applied Industrial Technologies’s payout ratio is currently 42.65%.
COPYRIGHT VIOLATION NOTICE: “Acadian Asset Management LLC Has $3.11 Million Stake in Applied Industrial Technologies, Inc. (NYSE:AIT)” was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are viewing this report on another website, it was stolen and republished in violation of US and international copyright laws. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/06/acadian-asset-management-llc-has-3-11-million-stake-in-applied-industrial-technologies-inc-nyseait.html.
A number of research firms have recently issued reports on AIT. BidaskClub downgraded shares of Applied Industrial Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded shares of Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Northcoast Research began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, July 25th. They issued a “neutral” rating on the stock. Finally, Wells Fargo & Company reissued a “market perform” rating and issued a $63.00 price target (down from $67.00) on shares of Applied Industrial Technologies in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.50.
Applied Industrial Technologies Company Profile
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services.
Want to see what other hedge funds are holding AIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Industrial Technologies, Inc. (NYSE:AIT).
Receive News & Ratings for Applied Industrial Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Industrial Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
