Fiduciary Management Inc. WI Lowers Stake in Applied Industrial Technologies, Inc. $AIT

Key Points

• Fiduciary Management Inc. WI cut its stake in Applied Industrial Technologies by 7.6% in the fourth quarter, selling 17,656 shares and ending with 216,149 shares valued at about $55.5 million.
• Applied Industrial Technologies reported strong quarterly results, with EPS of $2.65 beating estimates and revenue of $1.25 billion topping expectations; revenue rose 7.3% year over year.
• Wall Street remains largely positive on AIT, with five Buy ratings and one Hold, and analysts setting price targets as high as $350, while the stock recently traded near its 52-week high.

Fiduciary Management Inc. WI reduced its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,149 shares of the industrial products company's stock after selling 17,656 shares during the period. Fiduciary Management Inc. WI owned 0.58% of Applied Industrial Technologies worth $55,501,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of AIT. Goldman Sachs Group Inc. lifted its position in Applied Industrial Technologies by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 381,187 shares of the industrial products company's stock valued at $85,897,000 after acquiring an additional 14,926 shares during the period. Empowered Funds LLC purchased a new position in Applied Industrial Technologies during the 1st quarter valued at about $318,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Applied Industrial Technologies by 12.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,348 shares of the industrial products company's stock valued at $22,162,000 after acquiring an additional 10,863 shares during the period. Focus Partners Wealth lifted its position in Applied Industrial Technologies by 4.5% during the 1st quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock valued at $302,000 after acquiring an additional 58 shares during the period. Finally, M&T Bank Corp purchased a new position in Applied Industrial Technologies during the 2nd quarter valued at about $217,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $315.50 on Friday. The company has a 50 day moving average price of $295.69 and a 200-day moving average price of $277.30. Applied Industrial Technologies, Inc. has a 52 week low of $223.13 and a 52 week high of $317.10. The firm has a market capitalization of $11.66 billion, a PE ratio of 29.79, a P/E/G ratio of 3.00 and a beta of 0.84. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same period in the previous year, the business posted $2.57 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. 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. As a group, equities research analysts expect that Applied Industrial Technologies, Inc. will post 10.7 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, May 15th. Applied Industrial Technologies's payout ratio is 19.26%.

Insider Transactions at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of the business's stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 directly owned 40,751 shares in the company, valued at approximately $12,471,436.04. The trade was a 16.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AIT shares. Wall Street Zen cut shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Robert W. Baird set a $317.00 target price on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. Oppenheimer lifted their target price on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a report on Friday, April 24th. Finally, KeyCorp lifted their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, February 26th. Five investment 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 $313.67.

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.

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