Wolverine Asset Management LLC Acquires New Holdings in Applied Industrial Technologies, Inc. $AIT

Wolverine Asset Management LLC bought a new position in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 4,000 shares of the industrial products company’s stock, valued at approximately $1,044,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Applied Industrial Technologies during the second quarter worth $107,228,000. Qube Research & Technologies Ltd acquired a new stake in shares of Applied Industrial Technologies in the 2nd quarter valued at about $81,722,000. Dundas Partners LLP lifted its holdings in shares of Applied Industrial Technologies by 12,956.0% in the second quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock valued at $61,881,000 after purchasing an additional 264,173 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Applied Industrial Technologies by 11,885.4% in the second quarter. Squarepoint Ops LLC now owns 258,286 shares of the industrial products company’s stock valued at $60,039,000 after purchasing an additional 256,131 shares in the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in shares of Applied Industrial Technologies by 69.2% during the second quarter. Royal London Asset Management Ltd. now owns 393,743 shares of the industrial products company’s stock worth $91,526,000 after buying an additional 161,048 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Mizuho set a $305.00 target price on Applied Industrial Technologies in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. 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, Applied Industrial Technologies presently has an average rating of “Moderate Buy” and an average price target of $287.50.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $281.61 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.50 and a current ratio of 3.55. The stock has a 50 day moving average price of $259.94 and a 200 day moving average price of $260.07. The stock has a market capitalization of $10.62 billion, a PE ratio of 27.10, a price-to-earnings-growth ratio of 2.87 and a beta of 0.87. Applied Industrial Technologies, Inc. has a 52 week low of $199.96 and a 52 week high of $284.76.

Applied Industrial Technologies (NYSE:AIT) last announced 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. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.36 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.100-10.850 EPS. Analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a $0.46 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio (DPR) is currently 17.71%.

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.