News stories about Applied Industrial Technologies (NYSE:AIT) have been trending positive recently, Accern Sentiment reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Applied Industrial Technologies earned a news impact score of 0.27 on Accern’s scale. Accern also gave news articles about the industrial products company an impact score of 45.5903873283669 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the news articles that may have effected Accern Sentiment Analysis’s analysis:
- AIT Crosses Above Key Moving Average Level (nasdaq.com)
- Terahertz Components and Systems Market North America to Save Leadership but Lose Significant Amount of Shares (sbwire.com)
- Applied Industrial Technologies, Inc. : AIT-US: Dividend Analysis : August 15th, 2017 (record date) : By the numbers : September 14, 2017 (finance.yahoo.com)
- Applied Industrial Technologies, Inc. (AIT) Upgraded to Buy by Zacks Investment Research (americanbankingnews.com)
- BRIEF-Applied Industrial Technologies says CEO Neil Schrimsher’s 2017 total compensation was $4.5 mln vs $3.4 mln in 2016 (reuters.com)
AIT has been the subject of a number of recent research reports. Zacks Investment Research cut Applied Industrial Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Wells Fargo & Company reiterated a “market perform” rating and set a $63.00 price objective (down previously from $67.00) on shares of Applied Industrial Technologies in a research report on Wednesday, July 12th. BidaskClub cut Applied Industrial Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Northcoast Research initiated coverage on Applied Industrial Technologies in a research report on Tuesday, July 25th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $64.50.
Shares of Applied Industrial Technologies (NYSE:AIT) opened at 60.25 on Friday. The stock has a market cap of $2.35 billion, a PE ratio of 17.72 and a beta of 0.92. The firm has a 50-day moving average price of $56.58 and a 200 day moving average price of $59.78. Applied Industrial Technologies has a 12-month low of $43.50 and a 12-month high of $69.00.
Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings results on Friday, August 11th. The industrial products company reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.56. Applied Industrial Technologies had a return on equity of 15.89% and a net margin of 5.16%. The firm had revenue of $681.47 million for the quarter, compared to the consensus estimate of $680.20 million. During the same quarter in the previous year, the business earned $0.66 earnings per share. The business’s revenue was up 7.5% compared to the same quarter last year. Equities research analysts predict that Applied Industrial Technologies will post $3.10 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Friday, August 11th. Applied Industrial Technologies’s dividend payout ratio is presently 34.12%.
In other news, VP Mark O. Eisele sold 4,939 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $55.91, for a total transaction of $276,139.49. Following the completion of the sale, the vice president now owns 106,090 shares in the company, valued at $5,931,491.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Mark O. Eisele sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $56.11, for a total value of $336,660.00. Following the sale, the vice president now owns 153,029 shares of the company’s stock, valued at approximately $8,586,457.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,571 shares of company stock valued at $4,070,841. Corporate insiders own 4.40% of the company’s stock.
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About Applied Industrial Technologies
Applied Industrial Technologies, Inc is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing customers in various industries. In addition, 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.
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