Ethic Inc. Buys 2,961 Shares of Applied Industrial Technologies, Inc. $AIT

Ethic Inc. boosted its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 92.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,154 shares of the industrial products company’s stock after buying an additional 2,961 shares during the quarter. Ethic Inc.’s holdings in Applied Industrial Technologies were worth $1,606,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. 111 Capital bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth approximately $980,000. Envestnet Asset Management Inc. grew its position in Applied Industrial Technologies by 38.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock valued at $17,151,000 after acquiring an additional 20,535 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Applied Industrial Technologies during the second quarter valued at $3,071,000. TimesSquare Capital Management LLC boosted its stake in shares of Applied Industrial Technologies by 10.5% during the second quarter. TimesSquare Capital Management LLC now owns 86,434 shares of the industrial products company’s stock valued at $20,092,000 after purchasing an additional 8,219 shares during the period. Finally, Regents Gate Capital LLP bought a new position in shares of Applied Industrial Technologies in the second quarter worth about $11,387,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Trading Down 1.7%

Applied Industrial Technologies stock opened at $256.67 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.50 and a current ratio of 3.55. The stock has a market cap of $9.68 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 2.62 and a beta of 0.87. The stock has a 50-day moving average of $257.01 and a two-hundred day moving average of $256.78. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $280.95.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.47 by $0.16. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.86%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.36 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, research analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 17.71%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho set a $305.00 price objective on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $287.50.

About Applied Industrial Technologies

Applied Industrial Technologies, listed on the New York Stock Exchange under the symbol AIT, is a leading distributor of industrial products and services. The company offers a comprehensive range of bearings, power transmission components, fluid power products, industrial rubber products, and automation solutions. Through its network of distribution centers and branch locations, Applied Industrial Technologies serves diverse end markets including manufacturing, oil and gas, mining, food and beverage, and wastewater treatment.

Founded in 1923 and headquartered in Cleveland, Ohio, Applied Industrial Technologies has grown through a combination of organic expansion and strategic acquisitions.