StockNews.com’s in-house research analysts made their initial coverage of Applied Industrial Technologies public on Thursday in a report available to readers (NYSE: AIT).
The organization has suggested to its members that they “buy” the company’s shares that specialize in industrial products.
Applied Industrial Technologies (NYSE: AIT) released the findings of its most recent quarterly financial report on Thursday, January 26.
The consumer goods manufacturer reported an earnings per share figure for the quarter of $2.05, $0.34 higher than the consensus projection of $1.71 made by industry experts.
The company’s revenues for the quarter came in at $1.06 billion, significantly higher than the consensus estimate of $996.44 million for the amount of money that would be made during the quarter.
The strong performance of Advanced Industrial Technologies is demonstrated by the healthy net margin of 7.32 percent and the 25.58 percent return on equity that the company generated.
The company Applied Industrial Technologies reported a quarterly increase in sales that was up 22.1% in comparison to the same period the previous year. Compared to the previous year’s results for the same period, the company posted a profit of $1.46 per share.
According to forecasts from analysts specializing in the industrial sector, Advanced Industrial Technologies will rake in an average of $8.34 in revenue per share during the current financial year.
When trading for AIT began on Thursday, the stock was priced at $133.58.
During the past year, the share price of Applied Industrial Technologies has moved in a range that has spanned from a low of $88.09 to a high of $149.42.
The market value of the company’s stock is $5.16 billion, based on its price-to-earnings ratio of 17.15 and its beta value of 1.19, respectively.
The current ratio is 3.18, the quick ratio is 2.01, and the debt-to-equity ratio is 0.48.
The ratio of current assets to current liabilities is 3.18. 3.18 is the ratio that expresses the proportion of current assets to current liabilities.
The stock price has had a moving average of $135.98 over the previous fifty days and an average price of $124.23 over the previous two hundred days.
Many other research companies have offered their opinions on AIT in recent months.
In a research report made public on Friday, January 27, KeyCorp rated Applied Industrial Technologies as “overweight” and increased their price objective on the company from $138.00 to $162.00.
The report was about Applied Industrial Technologies.
In a report published on January 27, Loop Capital upgraded its price objective on Applied Industrial Technologies from $150.00 to $170.00 and assigned the company a “buy” rating. Robert W.
Baird raised their price objective on Applied Industrial Technologies from $138.00 to $160.00 and gave the company a “neutral” rating in a research report published on Tuesday, January 24.
In other news about this topic, Chief Executive Officer Neil A. Schrimsher recently participated in a transaction on March 6 in which he sold 21,526 shares of company stock.
The transaction resulted in a total value of $3,122,561.56 due to the sale of the shares at an average price of $145.06.
The transaction resulted in the company’s chief executive officer acquiring ownership of 318,218 shares of the company’s stock, which together have an approximate value of $46,160,703.08.
This information regarding the transaction was included in a legal filing that was submitted to the SEC. You can access the filing and read about the information by following this link.
In other news about this topic, Chief Executive Officer Neil A. Schrimsher recently participated in a transaction on March 6 in which he sold 21,526 shares of company stock.
The sale of the shares resulted in an average price of $145.06 per share, which brought the total price of the transaction to $3,122,561.56.
The transaction resulted in the company’s chief executive officer acquiring ownership of 318,218 shares of the company’s stock, which together have an approximate value of $46,160,703.08.
This information regarding the transaction was included in a filing submitted to the SEC, and it is possible to obtain a copy of that filing by following this link.
Additionally, on March 1, the company’s Chief Executive Officer, Neil A. Schrimsher, sold 4,186 of the company’s shares of stock.
The shares were sold on the open market for $606,970.00, which works out to a price of $145.00 per share when divided by the total amount. Following the transaction’s completion, the company’s CEO now has a direct ownership stake in 339,744 shares, which are currently estimated to be worth approximately $49,262,880.
This is the location where the disclosure regarding the sale can be found. 2.20 company insiders own a percent of the total shares currently outstanding.
Institutional investors and hedge funds have actively participated in recent transactions involving the stock, buying and selling shares back and forth. FinTrust Capital Advisors LLC made a brand new investment of $25,000 in Advanced Industrial Technologies during the fourth quarter of the fiscal year.
This investment came from FinTrust Capital Advisors LLC Point72 Middle East FZE recruited and hired a new employee for a position in applied industrial technology during the final three months of 2018.
This individual was offered a salary of $28,000.
The state of Wyoming invested $29 thousand in the shares of Applied Industrial Technologies during the final three months of 2018. Wipfli Financial Advisors LLC paid Advanced Industrial Technologies, LLC $31,000 during the third quarter to take a new position in exchange for the right to share in the company’s profits.
This payment was made in exchange for the right to participate in the company’s profits.
Last but not least, during the third quarter, Ellevest INC increased the percentage of Applied Industrial Technologies stock owned by 30.7%.
This certainly should not be considered the least important development.
The addition of 87 shares brought an increase of $3,800 to the total value of Ellevest INC’s holdings in the industrial products company’s stock, which currently number 370 and are valued at that amount.
The vast majority of the company’s shares, or 92.02 percent, are owned by various institutional investors, such as hedge funds.