Applied Industrial Technologies, Inc. (NYSE:AIT) Declares Quarterly Dividend of $0.51

Applied Industrial Technologies, Inc. (NYSE:AIT) declared a quarterly dividend on Monday, June 22nd. Shareholders of record on Friday, August 14th will be paid a dividend of 0.51 per share by the industrial products company on Monday, August 31st. This represents a c) dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th.

Applied Industrial Technologies has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 16 years. Applied Industrial Technologies has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Applied Industrial Technologies to earn $11.75 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 17.4%.

Applied Industrial Technologies Stock Performance

Shares of AIT stock opened at $330.73 on Wednesday. The company has a quick ratio of 1.97, a current ratio of 2.95 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $308.92 and a two-hundred day moving average of $283.73. Applied Industrial Technologies has a 52 week low of $223.13 and a 52 week high of $340.37. The company has a market cap of $12.22 billion, a P/E ratio of 31.23, a PEG ratio of 3.22 and a beta of 0.84.

Applied Industrial Technologies (NYSE:AIT) last posted its earnings results on Tuesday, April 28th. The industrial products company reported $2.65 EPS for the quarter, beating the consensus estimate of $2.63 by $0.02. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Applied Industrial Technologies had a return on equity of 21.64% and a net margin of 8.34%.The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 earnings per share. Applied Industrial Technologies has set its Q4 2026 guidance at 2.850-2.960 EPS and its FY 2026 guidance at 10.640-10.750 EPS. As a group, analysts anticipate that Applied Industrial Technologies will post 10.71 EPS for the current year.

Insider Activity at Applied Industrial Technologies

In related news, Director Madhuri A. Andrews sold 3,845 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $329.89, for a total value of $1,268,427.05. Following the sale, the director directly owned 4,951 shares in the company, valued at $1,633,285.39. This trade represents a 43.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Warren E. Hoffner III sold 8,000 shares of Applied Industrial Technologies stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total value of $2,448,320.00. Following the sale, the vice president directly owned 40,751 shares in the company, valued at $12,471,436.04. The trade was a 16.41% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Applied Industrial Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital International Investors bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter worth about $200,456,000. Corient Private Wealth LLC lifted its stake in shares of Applied Industrial Technologies by 22,451.0% in the 4th quarter. Corient Private Wealth LLC now owns 585,423 shares of the industrial products company’s stock worth $150,319,000 after acquiring an additional 582,827 shares during the period. Norges Bank bought a new position in shares of Applied Industrial Technologies in the fourth quarter valued at approximately $125,044,000. M&T Bank Corp boosted its holdings in shares of Applied Industrial Technologies by 33,181.4% in the fourth quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock valued at $81,322,000 after acquiring an additional 299,960 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Applied Industrial Technologies by 4,933.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 264,575 shares of the industrial products company’s stock valued at $67,935,000 after acquiring an additional 259,319 shares during the period. 93.52% of the stock is currently owned by institutional investors.

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.