Cim Investment Management Inc. Grows Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Cim Investment Management Inc. grew its stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 100.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,897 shares of the industrial products company’s stock after acquiring an additional 1,956 shares during the period. Cim Investment Management Inc.’s holdings in Applied Industrial Technologies were worth $920,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Alyeska Investment Group L.P. raised its stake in shares of Applied Industrial Technologies by 27.9% during the 1st quarter. Alyeska Investment Group L.P. now owns 602,798 shares of the industrial products company’s stock valued at $135,835,000 after purchasing an additional 131,465 shares during the period. Boston Trust Walden Corp grew its holdings in Applied Industrial Technologies by 2.0% during the 2nd quarter. Boston Trust Walden Corp now owns 508,120 shares of the industrial products company’s stock valued at $118,113,000 after buying an additional 10,015 shares in the last quarter. Norges Bank bought a new stake in shares of Applied Industrial Technologies during the second quarter valued at about $107,228,000. Alliancebernstein L.P. lifted its holdings in shares of Applied Industrial Technologies by 452.6% in the first quarter. Alliancebernstein L.P. now owns 436,565 shares of the industrial products company’s stock worth $98,376,000 after buying an additional 357,568 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Applied Industrial Technologies by 69.2% in the second quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after buying an additional 161,048 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on AIT shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 1st. Mizuho set a $305.00 price target on shares of Applied Industrial Technologies in a research report on Wednesday, October 29th. Industrial Alliance Securities set a $290.00 price objective on Applied Industrial Technologies in a research report on Friday, August 22nd. Finally, Bank of America lifted their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.50.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $262.12 on Friday. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $280.95. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.50 and a current ratio of 3.55. The stock has a market cap of $9.89 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The firm’s fifty day moving average price is $254.48 and its 200-day moving average price is $253.83.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results 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 analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the firm earned $2.36 earnings per share. The firm’s revenue was up 9.2% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. On average, equities research 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 disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, November 14th. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 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.