Bank of New York Mellon Corp Has $76.15 Million Stock Position in Applied Industrial Technologies, Inc. $AIT

Bank of New York Mellon Corp decreased its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 7.2% in the fourth quarter, HoldingsChannel reports. The firm owned 296,552 shares of the industrial products company’s stock after selling 23,018 shares during the period. Bank of New York Mellon Corp’s holdings in Applied Industrial Technologies were worth $76,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AIT. Torren Management LLC acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $25,000. Smartleaf Asset Management LLC boosted its position in shares of Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after purchasing an additional 89 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Applied Industrial Technologies in the 3rd quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in shares of Applied Industrial Technologies in the 4th quarter valued at $34,000. Finally, Allworth Financial LP boosted its position in shares of Applied Industrial Technologies by 446.4% in the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Up 2.7%

AIT opened at $322.91 on Wednesday. Applied Industrial Technologies, Inc. has a fifty-two week low of $223.13 and a fifty-two week high of $324.34. The business has a 50-day moving average of $298.02 and a 200-day moving average of $278.62. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.95 and a quick ratio of 1.97. The company has a market capitalization of $11.93 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 3.00 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.02. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the business earned $2.57 EPS. The firm’s revenue 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. Equities research analysts forecast that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current fiscal year.

Applied Industrial Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, May 15th. Applied Industrial Technologies’s dividend payout ratio (DPR) is presently 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $306.04, for a total value of $2,448,320.00. Following the transaction, the vice president directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Oppenheimer increased their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Robert W. Baird set a $317.00 price objective on Applied Industrial Technologies in a research note on Wednesday, April 29th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. KeyCorp increased their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the stock 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 research note on Friday, April 24th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $313.67.

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.