39,400 Shares in Applied Industrial Technologies, Inc. $AIT Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired a new stake in Applied Industrial Technologies, Inc., purchasing 39,400 shares valued at approximately $8.88 million, representing about 0.10% of the company.
• A number of institutional investors, including Intech Investment Management LLC, UBS AM, and others, have increased their stakes in Applied Industrial Technologies during the first quarter, reflecting growing confidence in the company.
• Recent analyst ratings have been positive, with firms like Bank of America raising their price targets and assigning "buy" ratings, projecting significant growth potential for the stock.

Strs Ohio purchased a new stake in Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 39,400 shares of the industrial products company's stock, valued at approximately $8,878,000. Strs Ohio owned approximately 0.10% of Applied Industrial Technologies at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC lifted its holdings in shares of Applied Industrial Technologies by 42.5% in the first quarter. Intech Investment Management LLC now owns 25,214 shares of the industrial products company's stock valued at $5,682,000 after purchasing an additional 7,518 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Applied Industrial Technologies by 4.5% in the first quarter. Focus Partners Wealth now owns 1,341 shares of the industrial products company's stock valued at $302,000 after purchasing an additional 58 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Applied Industrial Technologies by 12.4% in the first 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 purchasing an additional 10,863 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of Applied Industrial Technologies in the first quarter valued at about $318,000. Finally, United Services Automobile Association bought a new stake in shares of Applied Industrial Technologies in the first quarter valued at about $541,000. 93.52% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP Jason W. Vasquez sold 7,466 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $260.08, for a total value of $1,941,757.28. Following the transaction, the vice president owned 14,491 shares of the company's stock, valued at approximately $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Neil A. Schrimsher sold 26,671 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $262.46, for a total value of $7,000,070.66. Following the completion of the transaction, the chief executive officer directly owned 149,735 shares in the company, valued at $39,299,448.10. The trade was a 15.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,660 shares of company stock valued at $11,217,980. 1.60% of the stock is owned by insiders.

Applied Industrial Technologies Stock Performance

NYSE:AIT traded up $2.78 on Thursday, hitting $262.28. The company's stock had a trading volume of 174,628 shares, compared to its average volume of 192,931. 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 stock has a fifty day moving average of $264.62 and a two-hundred day moving average of $241.34. The firm has a market capitalization of $9.90 billion, a P/E ratio of 25.92, a price-to-earnings-growth ratio of 2.74 and a beta of 1.00. Applied Industrial Technologies, Inc. has a one year low of $199.96 and a one year high of $282.98.

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

Applied Industrial Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Applied Industrial Technologies's dividend payout ratio is presently 18.18%.

Analysts Set New Price Targets

AIT has been the topic of several analyst reports. Industrial Alliance Securities set a $290.00 target price on Applied Industrial Technologies in a report on Friday, August 22nd. Oppenheimer upped their target price on Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Robert W. Baird upped their target price on Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Raymond James Financial lowered Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Applied Industrial Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.00.

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.