AlphaQuest LLC Grows Stake in Applied Industrial Technologies, Inc. $AIT

AlphaQuest LLC grew its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 210.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,789 shares of the industrial products company’s stock after acquiring an additional 8,668 shares during the period. AlphaQuest LLC’s holdings in Applied Industrial Technologies were worth $3,339,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. 111 Capital bought a new stake in Applied Industrial Technologies during the 2nd quarter valued at $980,000. Envestnet Asset Management Inc. boosted its holdings in shares of Applied Industrial Technologies by 38.6% in the second quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after acquiring an additional 20,535 shares during the period. Wolverine Asset Management LLC purchased a new position in shares of Applied Industrial Technologies in the third quarter valued at $1,044,000. Regents Gate Capital LLP bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at $11,387,000. Finally, TimesSquare Capital Management LLC lifted its holdings in Applied Industrial Technologies by 10.5% during the 2nd quarter. TimesSquare Capital Management LLC now owns 86,434 shares of the industrial products company’s stock worth $20,092,000 after purchasing an additional 8,219 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AIT shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. KeyCorp reduced their price objective on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Mizuho set a $305.00 target price on shares of Applied Industrial Technologies in a research note on Wednesday, October 29th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and an average target price of $290.63.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $259.60 on Friday. Applied Industrial Technologies, Inc. has a 52-week low of $199.96 and a 52-week high of $286.66. The company has a fifty day moving average of $264.41 and a 200-day moving average of $261.56. The company has a market capitalization of $9.68 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.50 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last released its quarterly earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the business posted $2.39 earnings per share. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s dividend payout ratio is presently 17.51%.

Applied Industrial Technologies Company Profile

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.