Mutual of America Capital Management LLC Raises Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Mutual of America Capital Management increased its stake in Applied Industrial Technologies by 38.1% in the fourth quarter, now holding 96,438 shares valued at about $24.8 million.
• The company’s latest earnings topped expectations, with quarterly EPS of $2.65 versus the $2.63 estimate and revenue of $1.25 billion, up 7.3% year over year.
• Wall Street sentiment remains generally positive: analysts have a consensus Moderate Buy rating, with an average price target of $313.67, though one firm recently downgraded the stock to Hold.

Mutual of America Capital Management LLC boosted its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) by 38.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,438 shares of the industrial products company's stock after purchasing an additional 26,612 shares during the period. Mutual of America Capital Management LLC owned about 0.26% of Applied Industrial Technologies worth $24,762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. First Trust Advisors LP boosted its position in Applied Industrial Technologies by 22.7% in the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company's stock worth $243,577,000 after purchasing an additional 172,857 shares during the last quarter. Wellington Management Group LLP boosted its position in Applied Industrial Technologies by 24.7% in the third quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company's stock worth $200,863,000 after purchasing an additional 152,197 shares during the last quarter. Capital International Investors purchased a new position in Applied Industrial Technologies in the third quarter worth $200,456,000. Dimensional Fund Advisors LP boosted its position in Applied Industrial Technologies by 1.5% in the third quarter. Dimensional Fund Advisors LP now owns 720,352 shares of the industrial products company's stock worth $188,040,000 after purchasing an additional 10,408 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Applied Industrial Technologies by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 687,161 shares of the industrial products company's stock worth $176,479,000 after purchasing an additional 1,889 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on AIT. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. KeyCorp boosted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Thursday, February 26th. Oppenheimer boosted their price objective on Applied Industrial Technologies from $300.00 to $350.00 and gave the company 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. Finally, Wall Street Zen cut Applied Industrial Technologies from a "buy" rating to a "hold" rating in a research note on Saturday, May 2nd. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $313.67.

Applied Industrial Technologies Price Performance

Applied Industrial Technologies stock opened at $301.07 on Tuesday. Applied Industrial Technologies, Inc. has a one year low of $221.52 and a one year high of $317.10. The business has a fifty day moving average price of $291.61 and a 200-day moving average price of $275.77. 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 firm has a market capitalization of $11.13 billion, a P/E ratio of 28.43, a PEG ratio of 2.89 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The firm's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company earned $2.57 earnings per share. 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 forecast that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $2.04 annualized dividend and a yield of 0.7%. Applied Industrial Technologies's dividend payout ratio (DPR) is currently 19.26%.

Insider Transactions at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction on Tuesday, May 5th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company's stock.

Applied Industrial Technologies 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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