Wedge Capital Management L L P NC Lowers Stock Holdings in Applied Industrial Technologies, Inc. $AIT

Wedge Capital Management L L P NC reduced its stake in Applied Industrial Technologies, Inc. (NYSE:AIT) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,802 shares of the industrial products company’s stock after selling 3,542 shares during the period. Wedge Capital Management L L P NC owned 0.05% of Applied Industrial Technologies worth $5,085,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp boosted its holdings in shares of Applied Industrial Technologies by 3.3% in the third quarter. Jones Financial Companies Lllp now owns 1,410 shares of the industrial products company’s stock valued at $369,000 after purchasing an additional 45 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Applied Industrial Technologies by 7.4% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 653 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 45 shares during the period. Quadrant Capital Group LLC increased its holdings in Applied Industrial Technologies by 1.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 4,631 shares of the industrial products company’s stock worth $1,209,000 after purchasing an additional 51 shares during the period. Farther Finance Advisors LLC raised its position in Applied Industrial Technologies by 13.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 457 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 53 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ raised its position in Applied Industrial Technologies by 11.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 516 shares of the industrial products company’s stock valued at $135,000 after purchasing an additional 55 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on AIT. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, March 21st. KeyCorp lifted their price objective on Applied Industrial Technologies from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Applied Industrial Technologies in a research note on Monday, December 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $294.38.

Applied Industrial Technologies Stock Performance

Shares of AIT opened at $260.30 on Friday. The company has a current ratio of 3.68, a quick ratio of 2.56 and a debt-to-equity ratio of 0.31. The firm has a market cap of $9.71 billion, a PE ratio of 24.77, a P/E/G ratio of 2.50 and a beta of 0.81. Applied Industrial Technologies, Inc. has a 12 month low of $199.96 and a 12 month high of $296.70. The stock has a fifty day moving average price of $273.29 and a 200-day moving average price of $263.85.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.48 by $0.03. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the business earned $2.39 EPS. The firm’s revenue for the quarter was up 8.4% on a year-over-year basis. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. Equities research analysts predict that Applied Industrial Technologies, Inc. will post 9.9 earnings per share for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 0.8%. This is an increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46. The ex-dividend date was Friday, February 13th. Applied Industrial Technologies’s dividend payout ratio is currently 19.41%.

Insider Activity at Applied Industrial Technologies

In other Applied Industrial Technologies news, VP Warren E. Hoffner III sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the sale, the vice president owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. The trade was a 7.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jason W. Vasquez sold 5,447 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $287.87, for a total transaction of $1,568,027.89. Following the transaction, the vice president owned 14,491 shares in the company, valued at $4,171,524.17. The trade was a 27.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,654 shares of company stock valued at $8,212,829 in the last three months. 1.60% of the stock is owned by insiders.

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.