Interval Partners LP Purchases Shares of 43,500 Applied Industrial Technologies, Inc. $AIT

Key Points

• Interval Partners LP opened a new position in Applied Industrial Technologies, buying 43,500 shares worth about $11.17 million and representing roughly 0.12% of the company.
• Applied Industrial Technologies reported better-than-expected quarterly results, with EPS of $2.65 versus $2.63 expected and revenue of $1.25 billion versus $1.23 billion expected. The company also raised guidance for fiscal 2026.
• The stock has been supported by strong institutional interest, with 93.52% of shares held by hedge funds and other institutions, while analysts currently rate it Moderate Buy with a consensus target price of $323.14.

Interval Partners LP purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 43,500 shares of the industrial products company's stock, valued at approximately $11,169,000. Interval Partners LP owned approximately 0.12% of Applied Industrial Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Torren Management LLC purchased a new position in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its stake in shares of Applied Industrial Technologies by 890.0% during the third quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company's stock valued at $26,000 after buying an additional 89 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $34,000. Allworth Financial LP lifted its stake in shares of Applied Industrial Technologies by 446.4% during the third 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 during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Applied Industrial Technologies during the fourth quarter valued at approximately $46,000. Hedge funds and other institutional investors own 93.52% of the company's stock.

Applied Industrial Technologies Stock Up 1.8%

AIT stock opened at $330.16 on Thursday. 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, Inc. has a fifty-two week low of $223.13 and a fifty-two week high of $335.96. The firm's 50-day simple moving average is $304.58 and its 200 day simple moving average is $281.52. The stock has a market cap of $12.20 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 3.09 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share 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 business had revenue of $1.25 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the company earned $2.57 EPS. The company'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. As a group, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued 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 19.26%.

Insider Buying and Selling at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, the vice president owned 40,751 shares of the company's stock, valued at $12,471,436.04. This trade represents a 16.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AIT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research report on Saturday, May 2nd. KeyCorp raised their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Thursday, February 26th. Robert W. Baird set a $317.00 price target on shares of Applied Industrial Technologies in a report on Wednesday, April 29th. DA Davidson began coverage on shares of Applied Industrial Technologies in a research note on Tuesday. They set a "buy" rating and a $380.00 price objective on the stock. Finally, Oppenheimer increased their price objective on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Applied Industrial Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $323.14.

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.

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