Van Hulzen Asset Management LLC Takes $2.34 Million Position in Applied Industrial Technologies, Inc. $AIT

Van Hulzen Asset Management LLC acquired a new position in Applied Industrial Technologies, Inc. (NYSE:AIT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,923 shares of the industrial products company’s stock, valued at approximately $2,341,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Torren Management LLC acquired a new stake in Applied Industrial Technologies in the fourth quarter valued at approximately $25,000. Anchor Investment Management LLC acquired a new position in shares of Applied Industrial Technologies during the fourth quarter worth $32,000. Global Retirement Partners LLC acquired a new position in shares of Applied Industrial Technologies during the second quarter worth $37,000. Kilter Group LLC purchased a new stake in shares of Applied Industrial Technologies during the 2nd quarter valued at $40,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Applied Industrial Technologies by 78.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 177 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

Applied Industrial Technologies Price Performance

Shares of AIT opened at $338.74 on Tuesday. The firm has a market capitalization of $12.43 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 2.74 and a beta of 0.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.58 and a quick ratio of 1.75. Applied Industrial Technologies, Inc. has a 1-year low of $238.34 and a 1-year high of $374.80. The company’s fifty day moving average price is $340.49 and its 200-day moving average price is $306.99.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.25. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Applied Industrial Technologies had a return on equity of 22.17% and a net margin of 8.35%.The firm’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.80 EPS. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. On average, equities research analysts predict that Applied Industrial Technologies, Inc. will post 11.95 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Friday, August 14th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 0.6%. Applied Industrial Technologies’s payout ratio is 18.61%.

Insider Transactions at Applied Industrial Technologies

In other Applied Industrial Technologies news, CFO David K. Wells sold 1,812 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 32,050 shares of the company’s stock, valued at approximately $11,380,955. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Madhuri A. Andrews sold 3,845 shares of Applied Industrial Technologies stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $329.89, for a total transaction of $1,268,427.05. Following the sale, the director owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. The trade was a 43.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

AIT has been the topic of several research analyst reports. Oppenheimer boosted their target price on Applied Industrial Technologies from $350.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Tuesday, July 21st. DA Davidson raised their price target on Applied Industrial Technologies from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, August 14th. KeyCorp boosted their price target on 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, Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Seven equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $400.00.

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.