OneAscent Investment Solutions LLC Takes $455,000 Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• OneAscent Investment Solutions LLC acquired a new stake in Applied Industrial Technologies, purchasing 2,020 shares valued at approximately $455,000.
• The stock has received a consensus rating of "Buy" from analysts, with an average price target of $285.00.
• Applied Industrial Technologies recently declared a quarterly dividend of $0.46, representing an annualized yield of 0.7%, and also approved a stock buyback plan allowing for the repurchase of 1.5 million shares.

OneAscent Investment Solutions LLC acquired a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,020 shares of the industrial products company's stock, valued at approximately $455,000.

Other hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Applied Industrial Technologies by 7.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 3,103 shares of the industrial products company's stock worth $699,000 after purchasing an additional 210 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Applied Industrial Technologies by 6.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,248 shares of the industrial products company's stock worth $1,183,000 after buying an additional 323 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Applied Industrial Technologies by 17.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,501 shares of the industrial products company's stock worth $338,000 after buying an additional 226 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Applied Industrial Technologies by 26.0% in the first quarter. Sequoia Financial Advisors LLC now owns 1,811 shares of the industrial products company's stock valued at $408,000 after acquiring an additional 374 shares during the last quarter. Finally, Spire Wealth Management boosted its holdings in Applied Industrial Technologies by 11.3% in the first quarter. Spire Wealth Management now owns 2,583 shares of the industrial products company's stock valued at $582,000 after acquiring an additional 262 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AIT shares. Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird lifted their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the company an "outperform" rating in a report on Friday. Raymond James Financial cut shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a research report on Friday. Finally, Oppenheimer upped their price target on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Applied Industrial Technologies has a consensus rating of "Moderate Buy" and an average target price of $287.86.

Applied Industrial Technologies Stock Up 0.3%

NYSE:AIT traded up $0.70 on Tuesday, reaching $263.06. The stock had a trading volume of 50,792 shares, compared to its average volume of 410,397. The company has a current ratio of 3.32, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $251.61 and a 200 day moving average of $240.11. The stock has a market cap of $10.02 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 3.12 and a beta of 0.94. Applied Industrial Technologies, Inc. has a 12-month low of $191.31 and a 12-month high of $282.98.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The industrial products company reported $2.80 earnings per share 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 analysts' expectations of $1.18 billion. Applied Industrial Technologies had a net margin of 8.61% and a return on equity of 21.78%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 15th. Applied Industrial Technologies's dividend payout ratio is 18.18%.

Applied Industrial Technologies announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 1st that authorizes the company to repurchase 1,500,000 outstanding shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

About Applied Industrial Technologies

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.