Mountain Pacific Investment Advisers LLC Sells 49,934 Shares of Applied Industrial Technologies, Inc. $AIT

Mountain Pacific Investment Advisers LLC decreased its position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 81.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,203 shares of the industrial products company’s stock after selling 49,934 shares during the quarter. Mountain Pacific Investment Advisers LLC’s holdings in Applied Industrial Technologies were worth $2,925,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Applied Industrial Technologies in the third quarter valued at approximately $27,000. Hantz Financial Services Inc. raised its stake in shares of Applied Industrial Technologies by 2,033.3% during the second quarter. Hantz Financial Services Inc. now owns 128 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 122 shares during the last quarter. Maseco LLP acquired a new position in shares of Applied Industrial Technologies during the second quarter worth $35,000. First Horizon Corp acquired a new stake in shares of Applied Industrial Technologies in the third quarter valued at about $47,000. Finally, Headlands Technologies LLC acquired a new stake in Applied Industrial Technologies during the 2nd quarter valued at approximately $72,000. 93.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Mizuho set a $305.00 price objective on Applied Industrial Technologies in a report on Wednesday, October 29th. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $287.50.

Applied Industrial Technologies Trading Up 2.3%

NYSE:AIT opened at $283.76 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.55 and a quick ratio of 2.50. The company has a market cap of $10.70 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.83 and a beta of 0.87. Applied Industrial Technologies, Inc. has a 1 year low of $199.96 and a 1 year high of $286.19. The stock’s fifty day moving average price is $261.36 and its two-hundred day moving average price is $260.81.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.47 by $0.16. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the business posted $2.36 earnings per share. The firm’s revenue was up 9.2% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. As a group, analysts expect that Applied Industrial Technologies, Inc. will post 9.9 EPS for the current year.

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.