NEW YORK ( TheStreet) -- Applied Industrial Technologies (NYSE: AIT) hit a new 52-week high Wednesday as it is currently trading at $41.64, above its previous 52-week high of $41.59 with 45,158 shares traded as of 11:18 a.m. ET. Average volume has been 254,700 shares over the past 30 days. Applied Industrial has a market cap of $1.67 billion and is part of the services sector and wholesale industry. Shares are up 17.5% year to date as of the close of trading on Tuesday. Applied Industrial Technologies, Inc. distributes industrial products for maintenance, repair, and operational needs of machinery and equipment in the United States, Canada, and Mexico. The company has a P/E ratio of 17.3, above the average wholesale industry P/E ratio of 16.8 and below the S&P 500 P/E ratio of 17.7.
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