NEW YORK ( TheStreet) -- The ex-dividend date for Applied Industrial Technologies (NYSE: AIT) is tomorrow, August 11, 2011. Owners of shares as of market close today will be eligible for a dividend of 19 cents per share. At a price of $26.86 as of 9:32 a.m. ET, the dividend yield is 2.9%.

The average volume for Applied Industrial has been 295,200 shares per day over the past 30 days. Applied Industrial has a market cap of $1.1 billion and is part of the services sector and wholesale industry. Shares are down 17% year to date as of the close of trading on Tuesday.

Applied Industrial Technologies, Inc. distributes industrial supply products for maintenance, repair, and operational needs in the government and commercial sectors in the United States, Canada, and Mexico. The company has a P/E ratio of 11.7, equal to the average wholesale industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Applied Industrial as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Applied Industrial Ratings Report.

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