Tribune Investment Group LP Buys New Stake in Applied Industrial Technologies, Inc. $AIT

Key Points

• Tribune Investment Group LP acquired 33,000 shares of Applied Industrial Technologies, valued at approximately $7.4 million, making it the fund's 10th largest holding.
• Applied Industrial Technologies has set its FY 2026 guidance at $10.00-$10.75 EPS, with analysts forecasting a current fiscal year EPS of 9.9.
• The company announced a quarterly dividend of $0.46 per share, representing an annualized yield of 0.7%, with a payout ratio of 18.18%.

Tribune Investment Group LP bought a new stake in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 33,000 shares of the industrial products company's stock, valued at approximately $7,436,000. Applied Industrial Technologies comprises 3.2% of Tribune Investment Group LP's investment portfolio, making the stock its 10th largest position. Tribune Investment Group LP owned approximately 0.09% of Applied Industrial Technologies as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Northern Trust Corp lifted its holdings in shares of Applied Industrial Technologies by 12.5% during the fourth quarter. Northern Trust Corp now owns 510,772 shares of the industrial products company's stock valued at $122,315,000 after purchasing an additional 56,732 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Applied Industrial Technologies by 7.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 471,333 shares of the industrial products company's stock valued at $112,870,000 after purchasing an additional 33,842 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its holdings in shares of Applied Industrial Technologies by 0.6% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 379,460 shares of the industrial products company's stock valued at $90,869,000 after purchasing an additional 2,374 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Applied Industrial Technologies by 34,002.9% during the first quarter. GAMMA Investing LLC now owns 318,180 shares of the industrial products company's stock valued at $716,990,000 after purchasing an additional 317,247 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Applied Industrial Technologies by 199.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 309,617 shares of the industrial products company's stock valued at $74,145,000 after purchasing an additional 206,220 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIT has been the subject of a number of recent analyst reports. Robert W. Baird boosted their price objective on shares of Applied Industrial Technologies from $265.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Bank of America boosted their price objective on shares of Applied Industrial Technologies from $275.00 to $290.00 and gave the stock a "buy" rating in a report on Friday. Raymond James Financial lowered shares of Applied Industrial Technologies from an "outperform" rating to a "market perform" rating in a report on Friday, August 15th. Oppenheimer boosted their price objective on shares of Applied Industrial Technologies from $290.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Six investment 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $284.29.

Applied Industrial Technologies Price Performance

AIT stock traded up $7.8130 during mid-day trading on Friday, hitting $266.5730. The company had a trading volume of 264,082 shares, compared to its average volume of 325,714. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 3.26 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. The company has a quick ratio of 2.36, a current ratio of 3.32 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $254.25 and a 200 day moving average price of $240.30.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The industrial products company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.60 by $0.20. The business had revenue of $1.22 billion for 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 business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.64 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.000-10.75 EPS. On average, research analysts anticipate 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 declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 15th. Applied Industrial Technologies's dividend payout ratio is presently 18.18%.

Applied Industrial Technologies declared that its Board of Directors has initiated a stock buyback plan on Thursday, May 1st that allows the company to buyback 1,500,000 outstanding shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In related news, CEO Neil A. Schrimsher sold 26,671 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $262.46, for a total transaction of $7,000,070.66. Following the transaction, the chief executive officer directly owned 149,735 shares in the company, valued at approximately $39,299,448.10. This represents a 15.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jason W. Vasquez sold 7,466 shares of the company's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $260.08, for a total transaction of $1,941,757.28. Following the completion of the transaction, the vice president owned 14,491 shares in the company, valued at $3,768,819.28. This represents a 34.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company's stock.

Applied Industrial Technologies Profile

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.