Fuller & Thaler Asset Management Inc. Sells 43,999 Shares of Applied Industrial Technologies, Inc. (NYSE:AIT)

Fuller & Thaler Asset Management Inc. decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 627,958 shares of the industrial products company’s stock after selling 43,999 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Applied Industrial Technologies were worth $150,377,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC increased its position in shares of Applied Industrial Technologies by 5,900.0% during the 4th quarter. Larson Financial Group LLC now owns 120 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 118 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Applied Industrial Technologies in the fourth quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in Applied Industrial Technologies during the fourth quarter valued at approximately $44,000. Huntington National Bank raised its stake in shares of Applied Industrial Technologies by 33.8% during the fourth quarter. Huntington National Bank now owns 186 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 47 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Applied Industrial Technologies by 25.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 203 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of AIT stock opened at $222.06 on Wednesday. The business’s fifty day moving average is $231.90 and its 200 day moving average is $245.57. The company has a quick ratio of 2.55, a current ratio of 3.76 and a debt-to-equity ratio of 0.32. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 22.50, a PEG ratio of 3.14 and a beta of 1.01. Applied Industrial Technologies, Inc. has a twelve month low of $177.68 and a twelve month high of $282.98.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.18. Applied Industrial Technologies had a net margin of 8.62% and a return on equity of 22.37%. Research analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.83%. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 18.64%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. KeyCorp cut their price target on shares of Applied Industrial Technologies from $325.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. Loop Capital decreased their price target on Applied Industrial Technologies from $320.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Robert W. Baird increased their price objective on Applied Industrial Technologies from $250.00 to $275.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Raymond James reaffirmed an “outperform” rating and issued a $265.00 target price (up from $250.00) on shares of Applied Industrial Technologies in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $287.14.

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.