Cramer Rosenthal Mcglynn LLC Sells 3,526 Shares of Applied Industrial Technologies, Inc. $AIT

Cramer Rosenthal Mcglynn LLC reduced its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,508 shares of the industrial products company’s stock after selling 3,526 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 0.13% of Applied Industrial Technologies worth $12,924,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AIT. Goldman Sachs Group Inc. lifted its holdings in shares of Applied Industrial Technologies by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after purchasing an additional 14,926 shares in the last quarter. Empowered Funds LLC purchased a new position in Applied Industrial Technologies in the 1st quarter worth about $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company’s stock valued at $22,162,000 after acquiring an additional 10,863 shares during the period. Focus Partners Wealth boosted its holdings in shares of Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock valued at $302,000 after acquiring an additional 58 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Applied Industrial Technologies by 38.6% in the second quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after acquiring an additional 20,535 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $274.39 on Friday. 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 capitalization of $10.23 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 2.68 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. The firm has a 50 day moving average of $275.19 and a 200 day moving average of $264.12.

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

Applied Industrial Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $0.51 per share. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is presently 19.41%.

Wall Street Analyst Weigh In

AIT has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 26th. 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 issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $294.38.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Jason W. Vasquez sold 5,447 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president owned 14,491 shares of the company’s stock, valued at $4,171,524.17. The trade was a 27.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Warren E. Hoffner III sold 4,000 shares of the firm’s 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 in the company, valued at $15,224,993.62. The trade was a 7.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,654 shares of company stock valued at $8,212,829 over the last quarter. 1.60% of the stock is currently owned by company insiders.

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.