Applied Industrial Technologies (AIT) Insider Lowers Exposure By Over 10,000 Shares

Applied Industrial Technologies (NYSE:AIT), saw a top level insider alter their holdings with the company through a transaction that began earlier in the week and was officially filed today, August 28th. Director Edith Green Kelly sold 14,242 shares of common stock at average prices ranging from $49.201 to $49.295. Following this move, Kelly now has 21,631 shares involved directly, while having 7,961.12 shares indirectly invested in Applied Industrial Technologies (NYSE:AIT), a $2.03 million market cap company. Moreover, the corporation is an industrial distributor in North America, supplying customers in a range of industries with products, including bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, and general maintenance and mill supply products.
In addition, Billionaire Chuck Royce is a large outside investor in the company. His hedge fund, Royce & Associates reported a 9% rise in its activity last quarter, and now holds about 4.1 million shares worth nearly $208 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.
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