Alps Advisors Inc. Grows Holdings in Applied Industrial Technologies, Inc. $AIT

Alps Advisors Inc. raised its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 33.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,824 shares of the industrial products company’s stock after buying an additional 8,153 shares during the period. Alps Advisors Inc. owned about 0.09% of Applied Industrial Technologies worth $8,569,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Boston Trust Walden Corp increased its position in shares of Applied Industrial Technologies by 2.0% during the 2nd quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock valued at $118,113,000 after purchasing an additional 10,015 shares during the last quarter. Norges Bank purchased a new stake in Applied Industrial Technologies in the second quarter worth approximately $107,228,000. Royal London Asset Management Ltd. grew its position in Applied Industrial Technologies by 69.2% during the second quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock valued at $91,526,000 after acquiring an additional 161,048 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock worth $85,897,000 after acquiring an additional 14,926 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Applied Industrial Technologies by 47.8% in the 2nd quarter. Bank of America Corp DE now owns 374,627 shares of the industrial products company’s stock worth $87,082,000 after acquiring an additional 121,163 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

Shares of NYSE:AIT opened at $292.27 on Monday. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $267.30 and a 200-day moving average price of $262.36. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 2.97 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $295.26.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm earned $2.39 earnings per share. Applied Industrial Technologies’s quarterly revenue 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 analysts anticipate that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.51 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is currently 17.51%.

Insider Buying and Selling

In related news, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total value of $5,490,320.95. Following the completion of the sale, the chief executive officer owned 130,528 shares of the company’s stock, valued at $37,311,428.80. This trade represents a 12.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the transaction, the vice president directly owned 52,751 shares in the company, valued at approximately $15,224,993.62. The trade was a 7.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 28,654 shares of company stock valued at $8,212,829 over the last quarter. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AIT has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a research note on Wednesday, October 29th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, KeyCorp dropped their target price on Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating for the company in a report on Wednesday, January 28th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $290.63.

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.