Thrivent Financial for Lutherans reduced its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Get Rating) by 0.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,637 shares of the industrial products company’s stock after selling 175 shares during the period. Thrivent Financial for Lutherans owned approximately 0.10% of Applied Industrial Technologies worth $4,995,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in AIT. Wipfli Financial Advisors LLC acquired a new position in shares of Applied Industrial Technologies during the 3rd quarter worth $31,000. Ellevest Inc. raised its stake in Applied Industrial Technologies by 30.7% in the 3rd quarter. Ellevest Inc. now owns 370 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 87 shares during the last quarter. Federated Hermes Inc. raised its stake in Applied Industrial Technologies by 54.9% in the 3rd quarter. Federated Hermes Inc. now owns 553 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 196 shares during the last quarter. Quadrant Capital Group LLC raised its stake in Applied Industrial Technologies by 252.8% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,083 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 776 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Applied Industrial Technologies by 9.9% in the 3rd quarter. Van ECK Associates Corp now owns 1,114 shares of the industrial products company’s stock valued at $114,000 after purchasing an additional 100 shares during the last quarter. 92.02% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, CEO Neil A. Schrimsher sold 21,526 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $145.06, for a total transaction of $3,122,561.56. Following the completion of the transaction, the chief executive officer now directly owns 318,218 shares in the company, valued at approximately $46,160,703.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Applied Industrial Technologies news, CEO Neil A. Schrimsher sold 4,186 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $145.00, for a total value of $606,970.00. Following the sale, the chief executive officer now directly owns 339,744 shares of the company’s stock, valued at $49,262,880. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Neil A. Schrimsher sold 21,526 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $145.06, for a total value of $3,122,561.56. Following the completion of the transaction, the chief executive officer now directly owns 318,218 shares of the company’s stock, valued at approximately $46,160,703.08. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
Wall Street Analyst Weigh In
Applied Industrial Technologies Stock Performance
Applied Industrial Technologies stock opened at $129.19 on Friday. The stock has a market cap of $4.99 billion, a P/E ratio of 15.18 and a beta of 1.19. 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 of $134.88 and a 200-day moving average of $132.16. Applied Industrial Technologies, Inc. has a 52 week low of $88.09 and a 52 week high of $149.42.
Applied Industrial Technologies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, May 12th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 16.45%.
Applied Industrial Technologies Profile
Applied Industrial Technologies, Inc engages in the manufacture and distribution of industrial parts and products. It operates through the Service Center Based Distribution, and Fluid Power & Flow Control Business segments. The Service Center-Based Distribution segment provides customers with a wide range of industrial products through a network of service centers.
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