Value Holdings Management CO. LLC Has $22.20 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Value Holdings Management CO. LLC trimmed its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 92,698 shares of the industrial products company’s stock after selling 10,000 shares during the period. Applied Industrial Technologies accounts for approximately 3.9% of Value Holdings Management CO. LLC’s holdings, making the stock its 11th largest position. Value Holdings Management CO. LLC’s holdings in Applied Industrial Technologies were worth $22,199,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. GHP Investment Advisors Inc. lifted its stake in shares of Applied Industrial Technologies by 3.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,143 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 43 shares during the period. Versant Capital Management Inc increased its stake in Applied Industrial Technologies by 16.8% in the fourth quarter. Versant Capital Management Inc now owns 382 shares of the industrial products company’s stock valued at $91,000 after purchasing an additional 55 shares in the last quarter. Dana Investment Advisors Inc. raised its holdings in Applied Industrial Technologies by 0.7% in the second quarter. Dana Investment Advisors Inc. now owns 9,939 shares of the industrial products company’s stock worth $1,928,000 after purchasing an additional 65 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Applied Industrial Technologies by 3.7% during the third quarter. Coldstream Capital Management Inc. now owns 1,924 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 68 shares in the last quarter. Finally, Ballentine Partners LLC grew its holdings in shares of Applied Industrial Technologies by 7.1% in the 3rd quarter. Ballentine Partners LLC now owns 1,111 shares of the industrial products company’s stock valued at $248,000 after buying an additional 74 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Up 0.7 %

NYSE:AIT traded up $1.67 on Friday, hitting $257.21. 324,826 shares of the company’s stock were exchanged, compared to its average volume of 322,096. The firm has a 50-day moving average price of $259.43 and a 200-day moving average price of $228.88. Applied Industrial Technologies, Inc. has a 52 week low of $168.64 and a 52 week high of $282.98. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.78 and a quick ratio of 2.74. The company has a market cap of $9.89 billion, a P/E ratio of 26.25, a price-to-earnings-growth ratio of 3.36 and a beta of 1.08.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Thursday, October 24th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.11. Applied Industrial Technologies had a return on equity of 22.68% and a net margin of 8.57%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the company posted $2.39 earnings per share. Applied Industrial Technologies’s revenue was up .3% on a year-over-year basis. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 9.76 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.37 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.58%. Applied Industrial Technologies’s dividend payout ratio is presently 15.10%.

Analysts Set New Price Targets

AIT has been the topic of several recent analyst reports. Mizuho began coverage on Applied Industrial Technologies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 target price on the stock. StockNews.com raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $275.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Bank of America raised shares of Applied Industrial Technologies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $285.00 to $315.00 in a research report on Tuesday, November 26th. Finally, Loop Capital lifted their price target on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.71.

Insider Buying and Selling at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now directly owns 55,709 shares in the company, valued at approximately $15,689,882.76. This represents a 6.70 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mary Dean Hall sold 2,200 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the sale, the director now directly owns 3,462 shares of the company’s stock, valued at $952,326.96. This represents a 38.86 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company’s stock.

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.