M&T Bank Corp Increases Stock Position in Applied Industrial Technologies, Inc. $AIT

M&T Bank Corp raised its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 33,181.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 300,864 shares of the industrial products company’s stock after buying an additional 299,960 shares during the quarter. M&T Bank Corp’s holdings in Applied Industrial Technologies were worth $81,322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AIT. Smartleaf Asset Management LLC lifted its position in Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after buying an additional 89 shares during the period. Root Financial Partners LLC purchased a new position in Applied Industrial Technologies during the third quarter valued at $27,000. Abich Financial Wealth Management LLC purchased a new position in Applied Industrial Technologies during the third quarter valued at $29,000. V Square Quantitative Management LLC purchased a new position in Applied Industrial Technologies during the fourth quarter valued at $34,000. Finally, Allworth Financial LP lifted its position in Applied Industrial Technologies by 446.4% during the third quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after buying an additional 125 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the sale, the vice president directly owned 52,751 shares in the company, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction dated 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. The trade was a 12.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,654 shares of company stock worth $8,212,829. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on AIT. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Monday, December 29th. KeyCorp lifted their price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Wall Street Zen raised Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $295.00.

Applied Industrial Technologies Price Performance

AIT opened at $293.32 on Wednesday. The stock has a 50-day moving average price of $274.40 and a 200-day moving average price of $266.06. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. The firm has a market cap of $10.94 billion, a PE ratio of 27.91, a P/E/G ratio of 2.81 and a beta of 0.82. Applied Industrial Technologies, Inc. has a 1 year low of $213.78 and a 1 year high of $297.28.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly 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 firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the firm earned $2.39 EPS. Applied Industrial Technologies’s quarterly revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Sell-side analysts predict that Applied Industrial Technologies, Inc. will post 10.65 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.7%. The ex-dividend date was 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 19.41%.

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.