Applied Industrial Technologies on August three announced it has acquired the assets of UZ Engineered Items of Cleveland. Ultimately, Longbow Investigation upgraded Applied Industrial Technologies from an underperform” rating to a neutral” rating in a investigation report on Wednesday, August 12th. Shares of Applied Industrial Technologies ( NYSE:AIT ) traded up 2.37% for the duration of midday trading on Tuesday, reaching $39.24. 748,383 shares of the company’s stock were exchanged. Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings information on Wednesday, October 28th. Applied Industrial Technologies’s quarterly revenue was down eight.6% on a year-over-year basis.
The company’s 50-day moving typical is $40.01 and its 200-day moving typical is $40.76. The stock has a marketplace cap of $1.56 billion and a P/E ratio of 14.01. Applied Industrial Technologies has a 1 year low of $37.00 and a 1 year high of $50.00. The Company’s sector goods, like safety items, power transmission components, fluid power elements and systems, industrial rubber goods, linear motion components, tools, bearings, along with other industrial and upkeep supplies.
The organization provides style, engineering, and systems integration for industrial and fluid power applications, in addition to customized mechanical, fabricated rubber, and fluid power shop solutions. Service center-based distribution offers a variety of industrial merchandise to clients by way of a network of service centers. CLEVELAND, May five, 2011 /PRNewswire/ – Applied Industrial Technologies (NYSE: AIT) has received a Gold Alliance Supplier Award from Vulcan Components Company for its solutions in 2010.
Robust rankings in the areas of item good quality, service, support, ease of transaction and worth have earned Applied a Bronze, Silver, Gold, or Platinum Alliance award from Vulcan each and every year given that 2000. Much more than 200 Applied Service Centers offer Vulcan facilities with bearings, energy transmission products, rubber merchandise and specialty upkeep products, in addition to systems integration and technical assistance.
UZ Engineered Items has 170 employees and annual sales of roughly $23 million, Applied said in a statement announcing the deal. Broad-line distributor W.W. Grainger today announced it has signed a definitive agreement to acquire complete ownership of its joint venture in India, Asia Pacific Brands India Private Restricted, a single of India’s leading industrial and electrical wholesale distributors. This market has employed huge number of educated youth with handsome salary.