New York State Teachers Retirement System lessened its stake in Applied Industrial Technologies (NYSE:AIT) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 100,760 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System owned 0.26% of Applied Industrial Technologies worth $6,200,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Applied Industrial Technologies by 3.6% in the 1st quarter. BlackRock Inc. now owns 6,589,835 shares of the industrial products company’s stock valued at $391,897,000 after buying an additional 227,110 shares during the period. Dimensional Fund Advisors LP increased its stake in Applied Industrial Technologies by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,212,821 shares of the industrial products company’s stock valued at $65,419,000 after buying an additional 14,768 shares during the period. Victory Capital Management Inc. increased its stake in shares of Applied Industrial Technologies by 55.6% during the 1st quarter. Victory Capital Management Inc. now owns 1,051,933 shares of the industrial products company’s stock worth $62,558,000 after purchasing an additional 375,980 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Applied Industrial Technologies by 5.2% during the 1st quarter. Wells Fargo & Company MN now owns 947,772 shares of the industrial products company’s stock worth $56,363,000 after purchasing an additional 47,191 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth $45,049,000. Hedge funds and other institutional investors own 88.51% of the company’s stock.
Separately, ValuEngine upgraded shares of Applied Industrial Technologies from a “sell” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Applied Industrial Technologies presently has an average rating of “Hold” and an average price target of $71.00.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.31 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.24 annualized dividend and a dividend yield of 2.14%. Applied Industrial Technologies’s dividend payout ratio (DPR) is 33.16%.
Applied Industrial Technologies Profile
Applied Industrial Technologies, Inc distributes industrial products in North America, Australia, New Zealand, and Singapore. The company offers its products for maintenance, repair, and operational, as well as original equipment manufacturing customers. It operates in two segments, Service Center Based Distribution, and Fluid Power and Flow Control.
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