Lisanti Capital Growth LLC Has $6.81 Million Stock Position in Applied Industrial Technologies, Inc. (NYSE:AIT)

Lisanti Capital Growth LLC lowered its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,080 shares of the industrial products company’s stock after selling 1,020 shares during the period. Applied Industrial Technologies makes up 1.6% of Lisanti Capital Growth LLC’s investment portfolio, making the stock its 11th biggest holding. Lisanti Capital Growth LLC owned about 0.09% of Applied Industrial Technologies worth $6,806,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in shares of Applied Industrial Technologies during the first quarter valued at about $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies during the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter worth about $32,000. ZRC Wealth Management LLC acquired a new stake in shares of Applied Industrial Technologies in the 1st quarter worth about $42,000. Finally, Covestor Ltd raised its holdings in shares of Applied Industrial Technologies by 300.0% in the 1st quarter. Covestor Ltd now owns 292 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 219 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Up 0.8 %

NYSE:AIT traded up $1.69 on Friday, hitting $205.12. The stock had a trading volume of 263,534 shares, compared to its average volume of 270,869. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.56 and a current ratio of 3.53. The stock has a market cap of $7.87 billion, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. Applied Industrial Technologies, Inc. has a 1 year low of $149.59 and a 1 year high of $223.15. The firm’s fifty day simple moving average is $199.95 and its two-hundred day simple moving average is $193.73.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Thursday, August 15th. The industrial products company reported $2.64 EPS for the quarter, beating the consensus estimate of $2.52 by $0.12. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 23.55%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the business posted $2.35 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts predict that Applied Industrial Technologies, Inc. will post 9.65 earnings per share for the current year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Thursday, August 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 15.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Applied Industrial Technologies from $205.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday. StockNews.com lowered shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, August 24th. KeyCorp upped their target price on shares of Applied Industrial Technologies from $210.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Northcoast Research assumed coverage on shares of Applied Industrial Technologies in a report on Monday, July 1st. They issued a “neutral” rating on the stock. Finally, Loop Capital increased their price objective on shares of Applied Industrial Technologies from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $222.50.

Insider Activity

In other news, CEO Neil A. Schrimsher sold 3,703 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now owns 205,708 shares in the company, valued at approximately $41,602,385.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Applied Industrial Technologies news, VP Kurt W. Loring sold 3,366 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $209.02, for a total value of $703,561.32. Following the sale, the vice president now owns 19,315 shares of the company’s stock, valued at approximately $4,037,221.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Neil A. Schrimsher sold 3,703 shares of Applied Industrial Technologies stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $202.24, for a total transaction of $748,894.72. Following the sale, the chief executive officer now directly owns 205,708 shares in the company, valued at approximately $41,602,385.92. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

About Applied Industrial Technologies

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.