92,698 Shares in Applied Industrial Technologies, Inc. $AIT Acquired by Value Holdings Management CO. LLC

Value Holdings Management CO. LLC purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 92,698 shares of the industrial products company’s stock, valued at approximately $31,345,000. Applied Industrial Technologies makes up 5.2% of Value Holdings Management CO. LLC’s portfolio, making the stock its 9th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at $1,336,805,000. Corient Private Wealth LLC boosted its stake in Applied Industrial Technologies by 22,451.0% during the fourth quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock worth $150,319,000 after acquiring an additional 582,827 shares in the last quarter. Norges Bank bought a new position in Applied Industrial Technologies during the fourth quarter worth $125,044,000. Bank of New York Mellon Corp acquired a new stake in Applied Industrial Technologies in the second quarter worth $93,672,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Applied Industrial Technologies by 4,933.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 264,575 shares of the industrial products company’s stock worth $67,935,000 after purchasing an additional 259,319 shares during the period. 93.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other news, CFO David K. Wells sold 1,812 shares of Applied Industrial Technologies stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total transaction of $643,441.20. Following the sale, the chief financial officer directly owned 32,050 shares in the company, valued at $11,380,955. The trade was a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Madhuri A. Andrews sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the completion of the transaction, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This trade represents a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of NYSE AIT opened at $339.61 on Friday. The company has a market capitalization of $12.46 billion, a PE ratio of 30.99, a PEG ratio of 2.78 and a beta of 0.84. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14. The stock’s 50 day moving average price is $339.60 and its 200-day moving average price is $306.02. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last issued 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 during the quarter, compared to the consensus estimate of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.Applied Industrial Technologies’s revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $2.80 earnings per share. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 annualized dividend and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 18.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. DA Davidson upped their price objective on shares of Applied Industrial Technologies from $380.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 14th. Wall Street Zen upgraded Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Bank of America boosted their target price on Applied Industrial Technologies from $380.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Finally, Mizuho raised their price objective on Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $384.29.

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.