Pier Capital LLC Lowers Stock Position in Applied Industrial Technologies, Inc. $AIT

Pier Capital LLC lessened its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 41.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,453 shares of the industrial products company’s stock after selling 12,512 shares during the quarter. Pier Capital LLC’s holdings in Applied Industrial Technologies were worth $4,556,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wolverine Asset Management LLC purchased a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at about $1,044,000. Alps Advisors Inc. boosted its position in Applied Industrial Technologies by 33.0% during the third quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company’s stock worth $8,569,000 after purchasing an additional 8,153 shares in the last quarter. AlphaQuest LLC boosted its position in Applied Industrial Technologies by 210.3% during the third quarter. AlphaQuest LLC now owns 12,789 shares of the industrial products company’s stock worth $3,339,000 after purchasing an additional 8,668 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Applied Industrial Technologies by 27.3% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,126 shares of the industrial products company’s stock valued at $12,041,000 after purchasing an additional 9,898 shares during the period. Finally, Citigroup Inc. increased its position in shares of Applied Industrial Technologies by 44.4% in the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after buying an additional 9,321 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

NYSE:AIT opened at $260.57 on Friday. The stock has a 50 day moving average of $275.74 and a two-hundred day moving average of $264.24. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $296.70. The firm has a market cap of $9.72 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.48 by $0.03. The business had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, February 13th. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. Applied Industrial Technologies’s payout ratio is 19.41%.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the sale, the vice president owned 52,751 shares of the company’s stock, valued at $15,224,993.62. The trade was a 7.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,654 shares of company stock worth $8,212,829. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

AIT has been the subject of several research analyst reports. KeyCorp upped their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen raised shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $294.38.

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.