MQS Management LLC Invests $516,000 in Applied Industrial Technologies, Inc. $AIT

MQS Management LLC purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT) in the first quarter, HoldingsChannel reports. The firm purchased 1,946 shares of the industrial products company’s stock, valued at approximately $516,000.

A number of other hedge funds have also modified their holdings of AIT. First Trust Advisors LP boosted its position in shares of Applied Industrial Technologies by 22.7% during the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock worth $243,577,000 after purchasing an additional 172,857 shares in the last quarter. Distillate Capital Partners LLC bought a new stake in shares of Applied Industrial Technologies in the 3rd quarter valued at $13,281,000. Barclays PLC increased its position in shares of Applied Industrial Technologies by 91.4% in the 3rd quarter. Barclays PLC now owns 100,244 shares of the industrial products company’s stock valued at $26,169,000 after buying an additional 47,868 shares in the last quarter. Tudor Investment Corp ET AL raised its stake in Applied Industrial Technologies by 39.8% during the 3rd quarter. Tudor Investment Corp ET AL now owns 124,185 shares of the industrial products company’s stock worth $32,418,000 after buying an additional 35,374 shares during the period. Finally, Bahl & Gaynor Inc. raised its stake in Applied Industrial Technologies by 40.1% during the 3rd quarter. Bahl & Gaynor Inc. now owns 25,035 shares of the industrial products company’s stock worth $6,535,000 after buying an additional 7,170 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on AIT. Oppenheimer boosted their target price on Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, DA Davidson began coverage on shares of Applied Industrial Technologies in a research note on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price target on the stock. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.14.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $338.72 on Wednesday. The company has a current ratio of 2.95, a quick ratio of 1.97 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $313.73 and its 200 day simple moving average is $286.48. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 3.17 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 1-year low of $231.61 and a 1-year high of $345.48.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. Applied Industrial Technologies’s revenue was up 7.3% compared to the same quarter last year. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. On average, research analysts forecast that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be paid 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 is presently 19.26%.

Insider Activity

In other news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president directly owned 40,751 shares in the company, valued at $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. This trade represents a 43.71% decrease in their position. The SEC filing for this sale provides additional information. 1.60% of the stock is currently owned by company insiders.

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.