Mutual of America Capital Management LLC Has $11.63 Million Holdings in Applied Industrial Technologies, Inc. (NYSE:AIT)

Mutual of America Capital Management LLC raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 160.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,943 shares of the industrial products company’s stock after acquiring an additional 36,903 shares during the quarter. Mutual of America Capital Management LLC owned about 0.16% of Applied Industrial Technologies worth $11,629,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIT. EntryPoint Capital LLC acquired a new stake in shares of Applied Industrial Technologies in the first quarter valued at approximately $25,000. ICA Group Wealth Management LLC bought a new stake in shares of Applied Industrial Technologies in the fourth quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Applied Industrial Technologies during the second quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in Applied Industrial Technologies during the second quarter worth about $32,000. Finally, ZRC Wealth Management LLC bought a new stake in Applied Industrial Technologies during the first quarter worth about $42,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $202.24, for a total transaction of $748,894.72. Following the transaction, the chief executive officer now directly owns 205,708 shares of the company’s stock, valued at $41,602,385.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now directly owns 19,315 shares of the company’s stock, valued at $4,037,221.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total value of $748,894.72. Following the transaction, the chief executive officer now directly owns 205,708 shares in the company, valued at $41,602,385.92. The disclosure for this sale can be found here. Insiders have sold 11,927 shares of company stock valued at $2,439,116 in the last ninety days. Company insiders own 2.20% of the company’s stock.

Applied Industrial Technologies Trading Up 0.5 %

Shares of Applied Industrial Technologies stock opened at $214.63 on Thursday. The stock has a fifty day moving average price of $203.01 and a 200-day moving average price of $194.95. Applied Industrial Technologies, Inc. has a 1 year low of $149.59 and a 1 year high of $223.15. The firm has a market cap of $8.29 billion, a PE ratio of 22.50, a P/E/G ratio of 2.00 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.53 and a quick ratio of 2.56.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, topping the consensus estimate of $2.52 by $0.12. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a return on equity of 23.55% and a net margin of 8.61%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 EPS. Equities research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.86 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were paid a $0.37 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.48 dividend on an annualized basis and a yield of 0.69%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 15.51%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. KeyCorp upped their price objective on shares of Applied Industrial Technologies from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Northcoast Research began coverage on Applied Industrial Technologies in a research note on Monday, July 1st. They set a “neutral” rating for the company. StockNews.com downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, September 5th. Robert W. Baird upped their price objective on Applied Industrial Technologies from $205.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Raymond James initiated coverage on shares of Applied Industrial Technologies in a research report on Wednesday, September 4th. They set an “outperform” rating and a $225.00 target price for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $223.00.

Applied Industrial Technologies Company 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.