TimesSquare Capital Management LLC Grows Stake in Applied Industrial Technologies, Inc. $AIT

TimesSquare Capital Management LLC boosted its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 10.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,434 shares of the industrial products company’s stock after acquiring an additional 8,219 shares during the period. TimesSquare Capital Management LLC’s holdings in Applied Industrial Technologies were worth $20,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AIT. Robeco Schweiz AG increased its position in shares of Applied Industrial Technologies by 8.7% during the 2nd quarter. Robeco Schweiz AG now owns 186,950 shares of the industrial products company’s stock valued at $43,457,000 after purchasing an additional 15,000 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Applied Industrial Technologies during the second quarter valued at $5,336,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Applied Industrial Technologies by 8.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,891 shares of the industrial products company’s stock valued at $672,000 after buying an additional 232 shares during the period. Wedbush Securities Inc. boosted its position in Applied Industrial Technologies by 77.1% during the second quarter. Wedbush Securities Inc. now owns 2,384 shares of the industrial products company’s stock valued at $554,000 after purchasing an additional 1,038 shares in the last quarter. Finally, Huntington National Bank lifted its position in Applied Industrial Technologies by 59.0% during the second quarter. Huntington National Bank now owns 364 shares of the industrial products company’s stock valued at $85,000 after acquiring an additional 135 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Kurt W. Loring sold 8,523 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $267.06, for a total value of $2,276,152.38. Following the transaction, the vice president directly owned 19,273 shares of the company’s stock, valued at $5,147,047.38. This represents a 30.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jason W. Vasquez sold 7,466 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $260.08, for a total value of $1,941,757.28. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 42,660 shares of company stock worth $11,217,980 in the last 90 days. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Raymond James Financial downgraded shares of Applied Industrial Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, August 15th. Oppenheimer lifted their price target on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Industrial Alliance Securities set a $290.00 price target on shares of Applied Industrial Technologies in a research note on Friday, August 22nd. Finally, Bank of America upped their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, August 22nd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $287.50.

Applied Industrial Technologies Stock Performance

NYSE:AIT opened at $256.55 on Thursday. The company has a quick ratio of 2.36, a current ratio of 3.55 and a debt-to-equity ratio of 0.30. The stock has a market cap of $9.68 billion, a PE ratio of 24.69, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $282.98. The firm’s fifty day simple moving average is $258.03 and its 200-day simple moving average is $249.92.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.47 by $0.16. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter last year, the company earned $2.36 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.84 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is 17.71%.

Applied Industrial Technologies Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.