Applied Industrial Technologies (AIT) : Palisade Capital Managementnj reduced its stake in Applied Industrial Technologies by 0.87% during the most recent quarter end. The investment management company now holds a total of 546,443 shares of Applied Industrial Technologies which is valued at $25,551,675 after selling 4,802 shares in Applied Industrial Technologies , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Applied Industrial Technologies makes up approximately 1.08% of Palisade Capital Managementnj’s portfolio.
Other Hedge Funds, Including , Parkside Financial Bank Trust added AIT to its portfolio by purchasing 360 company shares during the most recent quarter which is valued at $16,834. Applied Industrial Technologies makes up approx 0.01% of Parkside Financial Bank Trust’s portfolio.Public Employees Retirement Association Of Colorado reduced its stake in AIT by selling 852 shares or 8.92% in the most recent quarter. The Hedge Fund company now holds 8,695 shares of AIT which is valued at $408,230.
Applied Industrial Technologies opened for trading at $47.75 and hit $48.1 on the upside on Monday, eventually ending the session at $48.07, with a gain of 0.46% or 0.22 points. The heightened volatility saw the trading volume jump to 1,02,117 shares. Company has a market cap of $1,876 M.
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.
Investors should note that on Jun 23, 2016, Applied Industrial Technologies announced a cash dividend of $0.2800. The company’s management has announced Aug 11, 2016 as the ex-dividend date and fixed the record date on Aug 15, 2016. The payable date has been fixed on Aug 31, 2016.
Applied Industrial Technologies Inc. is a distributor and supplier of industrial products. The Companys 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.