Applied Industrial Stock To Go Ex-dividend Tomorrow (AIT)

NEW YORK ( TheStreet) -- The ex-dividend date for Applied Industrial Technologies (NYSE: AIT) is tomorrow, May 11, 2012. Owners of shares as of market close today will be eligible for a dividend of 21 cents per share. At a price of $38.64 as of 9:30 a.m. ET, the dividend yield is 2.2%.

The average volume for Applied Industrial has been 257,200 shares per day over the past 30 days. Applied Industrial has a market cap of $1.62 billion and is part of the services sector and wholesale industry. Shares are up 8.9% year to date as of the close of trading on Wednesday.

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 15.7, equal to the average wholesale industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Applied Industrial as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable 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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