GSA Capital Partners LLP Takes Position in Applied Industrial Technologies, Inc. $AIT

GSA Capital Partners LLP purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,240 shares of the industrial products company’s stock, valued at approximately $757,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AIT. Tema ETFs LLC raised its holdings in Applied Industrial Technologies by 20.2% in the 2nd quarter. Tema ETFs LLC now owns 53,040 shares of the industrial products company’s stock valued at $17,935,000 after buying an additional 8,920 shares during the period. Ausbil Investment Management Ltd boosted its stake in Applied Industrial Technologies by 3.3% during the second quarter. Ausbil Investment Management Ltd now owns 12,662 shares of the industrial products company’s stock worth $4,205,000 after buying an additional 400 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Applied Industrial Technologies during the second quarter valued at about $254,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Applied Industrial Technologies by 21.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,089 shares of the industrial products company’s stock valued at $706,000 after acquiring an additional 362 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of Applied Industrial Technologies by 8.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 70,075 shares of the industrial products company’s stock valued at $23,696,000 after acquiring an additional 5,696 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $346.76 on Thursday. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $339.19 and a 200-day simple moving average of $305.46. The stock has a market cap of $12.73 billion, a P/E ratio of 31.64, a price-to-earnings-growth ratio of 2.85 and a beta of 0.84. Applied Industrial Technologies, Inc. has a 12-month low of $238.34 and a 12-month high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, beating the consensus estimate of $2.92 by $0.25. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the prior year, the company posted $2.80 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up 10.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Equities analysts expect that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Friday, August 14th will be issued a $0.51 dividend. The ex-dividend date is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies’s dividend payout ratio is presently 18.61%.

Insider Buying and Selling at Applied Industrial Technologies

In related news, Director Madhuri A. Andrews sold 3,845 shares of the business’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 completion of the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

AIT has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. DA Davidson lifted their target price 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. Mizuho boosted their target price on Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. Finally, Robert W. Baird raised their price target on Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $384.29.

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.