Sanctuary Advisors LLC bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,663 shares of the industrial products company’s stock, valued at approximately $562,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Applied Industrial Technologies in the second quarter valued at about $1,336,805,000. First Trust Advisors LP increased its stake in shares of Applied Industrial Technologies by 34.3% in the 1st quarter. First Trust Advisors LP now owns 978,840 shares of the industrial products company’s stock valued at $259,706,000 after purchasing an additional 249,961 shares during the last quarter. Capital International Investors grew its position in Applied Industrial Technologies by 25.4% in the fourth quarter. Capital International Investors now owns 962,925 shares of the industrial products company’s stock valued at $247,250,000 after acquiring an additional 195,043 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Applied Industrial Technologies by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 776,394 shares of the industrial products company’s stock valued at $199,355,000 after purchasing an additional 6,953 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Applied Industrial Technologies by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 723,700 shares of the industrial products company’s stock worth $185,833,000 after buying an additional 3,348 shares in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Applied Industrial Technologies news, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the sale, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David K. Wells sold 1,812 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the completion of the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at $11,380,955. The trade was a 5.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 7,561 shares of company stock worth $2,560,085 over the last ninety days. 1.60% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Applied Industrial Technologies Stock Down 5.1%
AIT stock opened at $321.09 on Friday. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.75 and a current ratio of 2.58. The stock has a fifty day moving average of $340.60 and a 200-day moving average of $308.11. Applied Industrial Technologies, Inc. has a fifty-two week low of $238.34 and a fifty-two week high of $374.80.
Applied Industrial Technologies (NYSE:AIT – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.25. The company had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. Applied Industrial Technologies’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 11.95 earnings per share for the current year.
Applied Industrial Technologies Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is 18.61%.
Applied Industrial Technologies 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.
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