Value Holdings Management CO. LLC Takes $31.34 Million Position in Applied Industrial Technologies, Inc. $AIT

Key Points

• Value Holdings Management opened a $31.34 million position in Applied Industrial Technologies, purchasing 92,698 shares, while institutional investors collectively own 93.52% of the company.
• Applied Industrial Technologies exceeded quarterly expectations, reporting $3.17 in EPS versus the $2.92 consensus and $1.35 billion in revenue, up 10.5% year over year.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $384.29; the company also declared a quarterly dividend of $0.51 per share, yielding 0.6%.

Value Holdings Management CO. LLC purchased a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 92,698 shares of the industrial products company's stock, valued at approximately $31,345,000. Applied Industrial Technologies accounts for about 5.2% of Value Holdings Management CO. LLC's portfolio, making the stock its 9th largest position. Value Holdings Management CO. LLC owned approximately 0.25% of Applied Industrial Technologies as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in AIT. Vise Technologies Inc. bought a new position in shares of Applied Industrial Technologies in the 2nd quarter valued at $735,000. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Applied Industrial Technologies during the 2nd quarter worth $148,000. Lisanti Capital Growth LLC acquired a new stake in Applied Industrial Technologies in the second quarter valued at about $1,378,000. West Family Investments Inc. bought a new position in Applied Industrial Technologies in the second quarter valued at about $484,000. Finally, Citizens Financial Group Inc. RI bought a new position in Applied Industrial Technologies in the second quarter valued at about $577,000. Institutional investors and hedge funds own 93.52% of the company's stock.

Applied Industrial Technologies Stock Performance

Shares of Applied Industrial Technologies stock opened at $339.61 on Friday. The stock has a market cap of $12.46 billion, a price-to-earnings ratio of 30.99, a P/E/G ratio of 2.78 and a beta of 0.84. Applied Industrial Technologies, Inc. has a twelve month low of $238.34 and a twelve month high of $374.80. The company's fifty day moving average is $339.60 and its 200 day moving average is $306.02. The company has a quick ratio of 1.75, a current ratio of 2.58 and a debt-to-equity ratio of 0.14.

Applied Industrial Technologies (NYSE:AIT - Get Free Report) last announced its earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.25. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.Applied Industrial Technologies's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Sell-side analysts forecast that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be paid 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 is Friday, August 14th. Applied Industrial Technologies's payout ratio is currently 18.61%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AIT. Oppenheimer increased their target price on shares of Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Wall Street Zen raised shares of Applied Industrial Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. Mizuho raised their target price on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, August 14th. KeyCorp boosted their target price on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Finally, Bank of America upped their price target on shares of Applied Industrial Technologies from $380.00 to $390.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Applied Industrial Technologies presently has a consensus rating of "Buy" and an average target price of $384.29.

Insider Activity at Applied Industrial Technologies

In other news, Director Madhuri A. Andrews sold 3,845 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total value of $1,268,427.05. Following the transaction, the director owned 4,951 shares in the company, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David K. Wells sold 1,812 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $355.10, for a total transaction of $643,441.20. Following the completion of the sale, the chief financial officer directly owned 32,050 shares in the company, valued at approximately $11,380,955. This represents a 5.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.60% of the company's stock.

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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