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Last $40.31 USD
Change Today -0.15 / -0.37%
Volume 263.3K
AIT On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 09/3/15 All times are local (Market data is delayed by at least 15 minutes).

applied industrial tech inc (AIT) Snapshot

Open
$40.46
Previous Close
$40.46
Day High
$40.83
Day Low
$40.31
52 Week High
11/12/14 - $50.00
52 Week Low
07/27/15 - $37.15
Market Cap
1.6B
Average Volume 10 Days
332.2K
EPS TTM
$2.82
Shares Outstanding
39.7M
EX-Date
08/12/15
P/E TM
14.3x
Dividend
$1.08
Dividend Yield
2.63%
Current Stock Chart for APPLIED INDUSTRIAL TECH INC (AIT)

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applied industrial tech inc (AIT) Details

Applied Industrial Technologies, Inc. distributes industrial products in the United States, Canada, Mexico, Australia, and New Zealand. The company offers its products for maintenance, repair, and operational needs, as well as original equipment manufacturing applications. It operates through two segments, Service Center Based Distribution and Fluid Power Businesses. The company distributes bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and fluid power products, such as hydraulic, pneumatic, lubrication, and filtration components and systems. It also operates fabricated rubber shops that modify and repair conveyor belts, as well as provide hose assemblies; and field crews to install and repair conveyor belts and rubber lining at customer locations. In addition, the company rebuilds or assembles speed reducers, pumps, valves, cylinders, and electric and hydraulic motors, as well as custom machining products; and offers equipment repair services, as well as technical advice to customers. Further, it provides maintenance training and inventory management services. The company offers industrial products through a network of service centers; and fluid power products directly to customers or through service centers. It serves various industries, including agriculture and food processing, automotive, chemicals and petrochemicals, fabricated metals, forest products, industrial machinery and equipment, mining, oil and gas, primary metals, transportation, and utilities, as well as government entities. Applied Industrial Technologies, Inc. was founded in 1923 and is headquartered in Cleveland, Ohio.

5,839 Employees
Last Reported Date: 08/26/15
Founded in 1923

applied industrial tech inc (AIT) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $795.0K
Chief Financial Officer, Vice President and T...
Total Annual Compensation: $438.0K
Vice President of General Counsel and Secreta...
Total Annual Compensation: $376.7K
Vice President of Acquisitions & Global Busin...
Total Annual Compensation: $320.0K
Compensation as of Fiscal Year 2014.

applied industrial tech inc (AIT) Key Developments

Applied Industrial Technologies, Inc. Appoints Christopher Macey as Principal Accounting Officer

Effective September 1, 2015, Applied Industrial Technologies, Inc. appointed Christopher Macey as Principal Accounting Officer. Mr. Macey, age 42, joined Applied in April 2015 as Corporate Controller. Previously, Mr. Macey served as Vice President, Corporate Controller and Chief Accounting Officer (from April 2012 to April 2015) and Vice President of Corporate Accounting and External Reporting (from October 2009 to April 2012) of Diebold, Incorporated.

Applied Industrial Technologies, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Year Ended June 30, 2015; Provides Earnings Guidance for Full Year of Fiscal 2016

Applied Industrial Technologies, Inc. announced consolidated earnings results for the fourth quarter and year ended June 30, 2015. For the quarter, the company's net sales were $677.5 million compared with $654.6 million a year ago. Operating income was $47.9 million compared with $44.8 million a year ago. Income before income taxes was $44.6 million compared with $44.9 million a year ago. Net income was $28.0 million or $0.70 per diluted share compared with $29.7 million or $0.71 per diluted share a year ago. The overall sales increase for the quarter reflects a 6.5% increase from acquisition related volume, offset by a negative 2.4% foreign currency translation impact and a 0.6% decrease in the company's core underlying operations. Cash generated from operating activities was $115.2 million. The company saw improved cash flow in the quarter of $19.4 million through lowered operating inventory levels, $16.8 million from collections of receivables and $36.5 million through additional levels of accounts payable. For the year, the company's net sales were $2,751.6 million compared with $2,459.9 million a year ago. Operating income was $184.6 million compared with $164.4 million a year ago. Income before income taxes was $175.9 million compared with $166.3 million a year ago. Net income was $115.5 million or $2.80 per diluted share compared with $112.8 million or $2.67 per diluted share a year ago. Cash provided by operating activities was $154.5 million compared with $110.1 million a year ago. Property purchases was $14.9 million compared with $20.190 million a year ago. For the full fiscal year 2016, the company expects a sales change in the range of negative 2% to up 1%. This includes an expected negative impact from foreign currency translation of 2.5% for the remainder of calendar 2015 and nearly 1.0% negative for the first half of calendar 2016. The company expects earnings per share for the full fiscal year to be in the range of $2.80 to $3.05 per share. The company expects gross profit percentage in fiscal 2016 to be slightly above fiscal 2015 annual rate of 28.0% and similar to the 28.3% rate experienced in fourth quarter just ended. The company believe tax rate for fiscal 2016 will be in the range of 34.0% to 34.5%. The company expects another solid year of cash provided from operating activities, which should exceed net income amounts. CapEx spending in maybe the $13 million to $15 million range.

Applied Industrial Technologies Seeks Acquisitions

Neil A. Schrimsher, President and Chief Executive Officer of Applied Industrial Technologies, Inc. (NYSE:AIT) said, "We will be active with acquisitions throughout the fiscal year, and we are confident that Applied is well-positioned to serve our customers and generate shareholder value".

 

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Industry Analysis

AIT

Industry Average

Valuation AIT Industry Range
Price/Earnings 14.4x
Price/Sales 0.6x
Price/Book 2.2x
Price/Cash Flow 11.4x
TEV/Sales 0.4x
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