Applied Industrial Technologies (NYSE:AIT) Sets New 1-Year High Following Dividend Announcement

Applied Industrial Technologies, Inc. (NYSE:AIT) shares reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company traded as high as $340.37 and last traded at $338.6250, with a volume of 485776 shares trading hands. The stock had previously closed at $337.96.

The newly announced dividend which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio is presently 19.26%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AIT shares. DA Davidson started coverage on shares of Applied Industrial Technologies in a report on Tuesday, June 16th. They issued a “buy” rating and a $380.00 price objective for the company. KeyCorp increased their target price on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Robert W. Baird set a $317.00 price target on Applied Industrial Technologies in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $323.14.

Applied Industrial Technologies Trading Down 2.2%

The firm’s 50 day moving average is $308.92 and its 200 day moving average is $283.73. The company has a market cap of $12.22 billion, a PE ratio of 31.23, a PEG ratio of 3.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $2.57 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. On average, equities analysts anticipate that Applied Industrial Technologies, Inc. will post 10.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the completion of the sale, the vice president owned 40,751 shares of the company’s stock, valued at approximately $12,471,436.04. This trade represents a 16.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Madhuri A. Andrews sold 3,845 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Torren Management LLC purchased a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC bought a new position in shares of Applied Industrial Technologies in the 4th quarter worth $32,000. V Square Quantitative Management LLC bought a new position in shares of Applied Industrial Technologies in the 4th quarter worth $34,000. Allworth Financial LP raised its position in shares of Applied Industrial Technologies by 446.4% during the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after buying an additional 125 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Applied Industrial Technologies by 78.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after buying an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.