Orca Investment Management Lowers stake in Applied Industrial Technologies (AIT)

Applied Industrial Technologies (AIT) : Orca Investment Management reduced its stake in Applied Industrial Technologies by 3.45% during the most recent quarter end. The investment management company now holds a total of 55,605 shares of Applied Industrial Technologies which is valued at $2,548,377 after selling 1,987 shares in Applied Industrial Technologies , the firm said in a disclosure report filed with the SEC on Apr 25, 2016.Applied Industrial Technologies makes up approximately 2.82% of Orca Investment Management’s portfolio.

Applied Industrial Technologies opened for trading at $46.13 and hit $46.17 on the upside on Monday, eventually ending the session at $46.06, with a gain of 0.50% or 0.23 points. The heightened volatility saw the trading volume jump to 2,34,634 shares. Company has a market cap of $1,808 M.

Other Hedge Funds, Including , Btim Corp. boosted its stake in AIT in the latest quarter, The investment management firm added 118,319 additional shares and now holds a total of 631,167 shares of Applied Industrial Technologies which is valued at $28,838,020. Applied Industrial Technologies makes up approx 0.50% of Btim Corp.’s portfolio.Delta Capital Management reduced its stake in AIT by selling 270 shares or 5.37% in the most recent quarter. The Hedge Fund company now holds 4,760 shares of AIT which is valued at $217,484. Applied Industrial Technologies makes up approx 0.15% of Delta Capital Management’s portfolio.New York State Teachers Retirement System reduced its stake in AIT by selling 100 shares or 0.09% in the most recent quarter. The Hedge Fund company now holds 105,967 shares of AIT which is valued at $4,841,632. Applied Industrial Technologies makes up approx 0.01% of New York State Teachers Retirement System’s portfolio.

On the company’s financial health, Applied Industrial Technologies reported $0.61 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.61. The company had revenue of $633.20 million for the quarter, compared to analysts expectations of $620.08 million. The company’s revenue was down -6.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.

Applied Industrial Technologies Inc. is a distributor and supplier of industrial products. The Company’s industry products including bearings power transmission components fluid power components and systems industrial rubber products linear motion components tools safety products and other industrial and maintenance supplies. The Company provides engineering design and systems integration for industrial and fluid power applications as well as customized mechanical fabricated rubber and fluid power shop services. The Company operates in two segments: service center-based distribution and fluid power businesses. Service center-based distribution provides customers with a range of industrial products through a network of service centers. Fluid power businesses consist of regional companies that distribute fluid power components and operate shops to assemble fluid power systems and perform equipment repair.

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