Dundas Partners LLP Has $551,000 Stake in Applied Industrial Technologies, Inc. $AIT

Dundas Partners LLP decreased its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 99.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,110 shares of the industrial products company’s stock after selling 264,102 shares during the quarter. Dundas Partners LLP’s holdings in Applied Industrial Technologies were worth $551,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Goldman Sachs Group Inc. grew its position in shares of Applied Industrial Technologies by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company’s stock valued at $85,897,000 after acquiring an additional 14,926 shares during the period. Empowered Funds LLC bought a new position in Applied Industrial Technologies during the 1st quarter worth $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Applied Industrial Technologies by 12.4% during the first 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 worth $22,162,000 after acquiring an additional 10,863 shares during the period. Focus Partners Wealth increased its holdings in shares of Applied Industrial Technologies by 4.5% during the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company’s stock worth $302,000 after purchasing an additional 58 shares during the period. Finally, Huntington National Bank increased its stake in Applied Industrial Technologies by 59.0% during the 2nd quarter. Huntington National Bank now owns 364 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 135 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Applied Industrial Technologies Stock Performance

NYSE AIT opened at $267.99 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.68 and a quick ratio of 2.56. The firm has a market cap of $10.00 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 2.56 and a beta of 0.80. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $296.70. The company has a fifty day moving average price of $275.25 and a 200-day moving average price of $264.18.

Applied Industrial Technologies (NYSE:AIT) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.Applied Industrial Technologies’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. Applied Industrial Technologies’s payout ratio is presently 19.41%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AIT shares. 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 price target on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Applied Industrial Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $294.38.

Insiders Place Their Bets

In other news, VP Jason W. Vasquez sold 5,447 shares of the firm’s stock in a transaction 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 sale, the vice president owned 14,491 shares in the company, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of Applied Industrial Technologies stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total value of $5,490,320.95. Following the sale, the chief executive officer directly owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This trade represents a 12.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,654 shares of company stock valued at $8,212,829 in the last quarter. Corporate insiders own 1.60% of the company’s stock.

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.