|Company's Full Name:||Applied Industrial Technologies, Inc.|
|Short Name:||Applied Industrial|
|Trading Ticker Symbol:||AIT|
|Headquarter City/Country:||Ohio, OH|
|Primary Industry Sector:||Consumer Durables|
|Seconday Sub-sector:||Industrial Specialties|
|Main Business Areas:||Consumer Durables, Industrial Specialties, Industrials, Industrial Distribution|
|Dividend Payments:||Dividend History|
|Current Share Price:||$63.62|
|Previous Year's Closing Price:||$53.94|
|Percentage Price Change (YTD):||17.95%|
|Market Cap:||$2.46 billion|
|52-week Price Range:||$49.45 - $66.68|
|Dividend Per Share:||$1.23|
Applied Industrial Technologies, Inc., incorporated on September 6, 1988, is an industrial distributor in North America, Australia and New Zealand, serving maintenance, repair and operations (MRO), and original equipment manufacturing (OEM) customers in various industries. In addition, the Company provides engineering, design, and systems integration for industrial and fluid power applications, as well as customized mechanical, fabricated rubber, and fluid power shop services. The Company also provides product-related technical application support and solutions to help customers manage their production downtime, machine performance, and overall procurement and maintenance costs. It operates in two segments: service center-based distribution and fluid power businesses. The service center-based distribution segment provides customers with a range of industrial products primarily through a network of service centers. The fluid power businesses segment consists of specialized regional companies that distribute fluid power components, design and assemble fluid power systems and perform equipment repair. The fluid power businesses primarily sell products and services directly to customers rather than through the service centers. Its field operating structure is built on two platforms: service center-based distribution and fluid power businesses.
The Company is a distributor of various products, such as bearings, power transmission components, fluid power components and systems, industrial rubber products, linear motion components, tools, safety products, oilfield supplies and other industrial and maintenance supplies. Fluid power products include hydraulic, electro-hydraulic, pneumatic, electro-pneumatic, lubrication, and filtration components and systems. These products are generally supplied to the Company by manufacturers whom it serves as a non-exclusive distributor. The suppliers also may provide the Company product training, as well as sales and marketing support. The Applied Maintenance Supplies & Solutions service offering provides traditional vendor managed inventory (VMI) services, at customer sites, for industrial and maintenance supplies, including fasteners, cutting tools, paints and chemicals, fluid flow, safety, and janitorial products. In addition to distributing products, it offers shop services in select geographic areas. Its fabricated rubber shops modify and repair conveyor belts and provide hose assemblies (also available at select service centers and distribution centers) in accordance with customer requirements. Field crews install and repair conveyor belts and rubber lining, primarily at customer locations. Among the other services it offers, either performed by it directly or by third-party providers, are the rebuilding or assembly of speed reducers, pumps, valves, cylinders, and electric and hydraulic motors, and custom machining. Its specialized fluid power businesses generally operate independently of the service centers, but as product distributors, share the same focus on customer service.
Service Center-Based Distribution
The service center-based distribution segment includes operations specialized in serving customers in the upstream oil and gas industry; the Applied Maintenance Supplies & Solutions service offering; regional fabricated rubber shops, and rubber service field crews. Customers primarily purchase its products for scheduled maintenance of their machinery and equipment and for emergency repairs.
Fluid Power Businesses
The Company's specialized fluid power businesses primarily market products and services to customers within the businesses' geographic regions. In the United States, the businesses also market products and services through its service center network. In addition to distributing fluid power components, the businesses design and assemble hydraulic and electro-hydraulic power units and control systems, pneumatic and electro-pneumatic panels and sub-assemblies, fabricated aluminum assemblies, lubrication systems, hydraulic manifolds and custom-machined metal parts. The businesses also perform equipment repair and offer technical advice to customers. Its customers include firms purchasing for maintenance, repair and operational needs, as well as for original equipment manufacturing applications. The Company's properties in Highland Heights, Newark, Lenexa, Chanhassen, Billings and Kent are used in its fluid power businesses segment.
1 Applied Plz
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