AlphaQuest LLC Acquires 8,668 Shares of Applied Industrial Technologies, Inc. $AIT

AlphaQuest LLC boosted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 210.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,789 shares of the industrial products company’s stock after purchasing an additional 8,668 shares during the period. AlphaQuest LLC’s holdings in Applied Industrial Technologies were worth $3,339,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Applied Industrial Technologies in the second quarter worth about $107,228,000. Qube Research & Technologies Ltd bought a new position in Applied Industrial Technologies during the 2nd quarter worth approximately $81,722,000. Dundas Partners LLP grew its position in Applied Industrial Technologies by 12,956.0% during the 2nd quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock worth $61,881,000 after acquiring an additional 264,173 shares during the last quarter. Squarepoint Ops LLC increased its stake in Applied Industrial Technologies by 11,885.4% in the 2nd quarter. Squarepoint Ops LLC now owns 258,286 shares of the industrial products company’s stock worth $60,039,000 after purchasing an additional 256,131 shares during the period. Finally, Royal London Asset Management Ltd. lifted its position in 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 valued at $91,526,000 after purchasing an additional 161,048 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

Applied Industrial Technologies stock opened at $259.60 on Friday. The stock’s 50 day simple moving average is $264.41 and its two-hundred day simple moving average is $261.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.50 and a current ratio of 3.68. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.61 and a beta of 0.87. Applied Industrial Technologies, Inc. has a fifty-two week low of $199.96 and a fifty-two week high of $286.66.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.48 by $0.03. The firm 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%.The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.51 per share. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, February 13th. Applied Industrial Technologies’s payout ratio is 17.51%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AIT. Mizuho set a $305.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, October 29th. KeyCorp cut their price target on shares of Applied Industrial Technologies from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $290.63.

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.