Tidal Investments LLC Purchases 8,801 Shares of Applied Industrial Technologies, Inc. $AIT

Tidal Investments LLC boosted its position in Applied Industrial Technologies, Inc. (NYSE:AIT) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,068 shares of the industrial products company’s stock after buying an additional 8,801 shares during the quarter. Tidal Investments LLC owned approximately 0.29% of Applied Industrial Technologies worth $35,529,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Applied Industrial Technologies during the 4th quarter worth about $125,044,000. Quantinno Capital Management LP grew its holdings in Applied Industrial Technologies by 89.0% in the 1st quarter. Quantinno Capital Management LP now owns 10,182 shares of the industrial products company’s stock valued at $2,702,000 after buying an additional 4,794 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Applied Industrial Technologies by 1,628.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 196,946 shares of the industrial products company’s stock worth $50,570,000 after buying an additional 185,553 shares during the period. PNC Financial Services Group Inc. increased its position in Applied Industrial Technologies by 40.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,572 shares of the industrial products company’s stock worth $5,539,000 after buying an additional 6,254 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Applied Industrial Technologies by 29.0% during the first quarter. Hillsdale Investment Management Inc. now owns 17,800 shares of the industrial products company’s stock worth $4,723,000 after buying an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Applied Industrial Technologies Stock Performance

Shares of NYSE AIT opened at $324.74 on Thursday. The business has a fifty day simple moving average of $338.58 and a 200 day simple moving average of $310.65. The company has a current ratio of 2.58, a quick ratio of 1.75 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $11.92 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.62 and a beta of 0.83. Applied Industrial Technologies, Inc. has a one year low of $238.34 and a one year high of $374.80.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Thursday, August 13th. The industrial products company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.25. Applied Industrial Technologies had a net margin of 8.35% and a return on equity of 22.17%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company earned $2.80 earnings per share. The business’s revenue was up 10.5% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2027 guidance at 11.650-12.150 EPS. Sell-side analysts expect that Applied Industrial Technologies, Inc. will post 11.96 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Friday, August 14th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, August 14th. Applied Industrial Technologies’s dividend payout ratio is 18.61%.

Insider Buying and Selling at Applied Industrial Technologies

In other news, Director Madhuri A. Andrews sold 3,845 shares of the 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 completion of the transaction, the director directly owned 4,951 shares of the company’s stock, valued at approximately $1,633,285.39. This represents a 43.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David K. Wells sold 1,812 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $355.10, for a total value of $643,441.20. Following the transaction, the chief financial officer owned 32,050 shares of the company’s stock, valued at $11,380,955. This trade represents a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 7,561 shares of company stock valued at $2,560,085. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AIT. Robert W. Baird raised their price objective on shares of Applied Industrial Technologies from $317.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Mizuho increased their price target on shares of Applied Industrial Technologies from $355.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Oppenheimer boosted their price objective 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. Finally, KeyCorp upped their price objective on shares of Applied Industrial Technologies from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $400.00.

Applied Industrial Technologies Profile

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.