Applied Industrial Technologies, Inc. (NYSE:AIT) Sees Significant Decrease in Short Interest

Applied Industrial Technologies, Inc. (NYSE:AIT) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 841,915 shares, a decrease of 12.9% from the February 26th total of 966,402 shares. Based on an average trading volume of 278,084 shares, the short-interest ratio is currently 3.0 days. Approximately 2.3% of the shares of the stock are sold short.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $257.62 on Tuesday. The company has a market cap of $9.61 billion, a PE ratio of 24.51, a price-to-earnings-growth ratio of 2.50 and a beta of 0.81. Applied Industrial Technologies has a 12 month low of $199.96 and a 12 month high of $296.70. 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 company has a 50-day simple moving average of $272.81 and a 200-day simple moving average of $263.77.

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 (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $2.39 earnings per share. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, equities analysts anticipate that Applied Industrial Technologies will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Increases Dividend

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

Insiders Place Their Bets

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the transaction, the vice president owned 52,751 shares in the company, valued at approximately $15,224,993.62. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $1,568,027.89. Following the completion of the sale, the vice president directly owned 14,491 shares of the company’s stock, valued at approximately $4,171,524.17. This trade represents a 27.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 28,654 shares of company stock worth $8,212,829. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its position in shares of Applied Industrial Technologies by 85.4% in the fourth quarter. Hsbc Holdings PLC now owns 33,807 shares of the industrial products company’s stock valued at $8,733,000 after purchasing an additional 15,572 shares during the period. Corient Private Wealth LLC lifted its position in Applied Industrial Technologies by 18.8% during the fourth quarter. Corient Private Wealth LLC now owns 3,085 shares of the industrial products company’s stock worth $794,000 after buying an additional 489 shares during the period. Clearwave Capital LLC acquired a new stake in Applied Industrial Technologies in the 4th quarter worth about $316,000. Anchor Investment Management LLC acquired a new stake in Applied Industrial Technologies in the 4th quarter worth about $32,000. Finally, BDFS Capital LLC purchased a new stake in Applied Industrial Technologies in the 4th quarter valued at about $392,000. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on AIT shares. Wall Street Zen downgraded shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. KeyCorp increased their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company 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 investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Applied Industrial Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Applied Industrial Technologies Company Profile

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.