Applied Industrial Technologies, Inc. $AIT Shares Acquired by Trexquant Investment LP

Key Points

• Trexquant Investment LP has increased its ownership in Applied Industrial Technologies by 24.5%, now holding 29,959 shares worth approximately $6.75 million.
• Applied Industrial Technologies recently reported better-than-expected quarterly earnings of $2.80 EPS, surpassing the consensus estimate by $0.20, with revenue of $1.22 billion.
• The company has a dividend yield of 0.7%, with a quarterly payment of $0.46 made to investors on August 29th, representing an annualized dividend of $1.84.

Trexquant Investment LP boosted its stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 24.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,959 shares of the industrial products company's stock after purchasing an additional 5,892 shares during the quarter. Trexquant Investment LP owned approximately 0.08% of Applied Industrial Technologies worth $6,751,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Applied Industrial Technologies by 34,002.9% in the first quarter. GAMMA Investing LLC now owns 318,180 shares of the industrial products company's stock valued at $716,990,000 after purchasing an additional 317,247 shares during the period. Nuveen LLC acquired a new position in shares of Applied Industrial Technologies in the first quarter worth $67,365,000. Tidal Investments LLC grew its position in Applied Industrial Technologies by 2,936.6% during the fourth quarter. Tidal Investments LLC now owns 69,265 shares of the industrial products company's stock valued at $16,587,000 after acquiring an additional 66,984 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Applied Industrial Technologies by 62.5% in the first quarter. Ameriprise Financial Inc. now owns 162,990 shares of the industrial products company's stock worth $36,728,000 after buying an additional 62,710 shares during the period. Finally, Fiera Capital Corp lifted its holdings in Applied Industrial Technologies by 44.9% during the 1st quarter. Fiera Capital Corp now owns 185,018 shares of the industrial products company's stock worth $41,692,000 after buying an additional 57,328 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Applied Industrial Technologies Trading Down 1.6%

Applied Industrial Technologies stock traded down $4.23 during midday trading on Friday, reaching $263.73. The stock had a trading volume of 70,479 shares, compared to its average volume of 395,906. The stock's 50-day simple moving average is $260.78 and its 200 day simple moving average is $240.54. Applied Industrial Technologies, Inc. has a twelve month low of $191.31 and a twelve month high of $282.98. The stock has a market capitalization of $9.96 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.76 and a beta of 1.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.36 and a current ratio of 3.32.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its earnings results on Thursday, August 14th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.60 by $0.20. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Applied Industrial Technologies had a return on equity of 21.78% and a net margin of 8.61%.The company's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.64 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. Analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies's dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AIT shares. Oppenheimer lifted their price objective on Applied Industrial Technologies from $290.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a research report on Friday, August 22nd. Bank of America lifted their price objective on Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, August 22nd. Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Raymond James Financial downgraded Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday, August 15th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $285.00.

Insider Activity at Applied Industrial Technologies

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the sale, the chief executive officer owned 149,735 shares of the company's stock, valued at $39,299,448.10. This trade represents a 15.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Kurt W. Loring sold 8,523 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $267.06, for a total value of $2,276,152.38. Following the transaction, the vice president owned 19,273 shares in the company, valued at approximately $5,147,047.38. This trade represents a 30.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,660 shares of company stock valued at $11,217,980 in the last 90 days. 1.67% of the stock is owned by corporate insiders.

Applied Industrial Technologies Company Profile

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.