Applied Industrial Technologies, Inc. (NYSE:AIT) Short Interest Update

Applied Industrial Technologies, Inc. (NYSE:AIT) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 841,915 shares, a decline of 12.9% from the February 26th total of 966,402 shares. Based on an average daily volume of 278,084 shares, the days-to-cover ratio is currently 3.0 days. Currently, 2.3% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. KeyCorp boosted their price target on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 26th. Wall Street Zen downgraded Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Weiss Ratings reissued 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Applied Industrial Technologies has an average rating of “Moderate Buy” and a consensus price target of $294.38.

Applied Industrial Technologies Price Performance

AIT opened at $265.10 on Wednesday. The stock has a market capitalization of $9.89 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.47 and a beta of 0.81. The stock’s 50 day moving average price is $272.57 and its 200-day moving average price is $263.78. Applied Industrial Technologies has a 52-week low of $199.96 and a 52-week high of $296.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.56 and a current ratio of 3.68.

Applied Industrial Technologies (NYSE:AIT) last issued its quarterly earnings data on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.03. Applied Industrial Technologies had a net margin of 8.49% and a return on equity of 21.74%. The business 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 firm earned $2.39 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, equities research analysts predict that Applied Industrial Technologies will post 9.9 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.51 dividend. The ex-dividend date of this dividend was Friday, February 13th. This is a positive change from Applied Industrial Technologies’s previous quarterly dividend of $0.46. This represents a $2.04 annualized dividend and a yield of 0.8%. Applied Industrial Technologies’s payout ratio is currently 19.41%.

Insider Buying and Selling at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $288.62, for a total transaction of $1,154,480.00. Following the transaction, the vice president directly owned 52,751 shares of the company’s stock, valued at approximately $15,224,993.62. This trade represents a 7.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $285.85, for a total value of $5,490,320.95. Following the completion of the sale, the chief executive officer owned 130,528 shares of the company’s stock, valued at $37,311,428.80. The trade was a 12.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,654 shares of company stock worth $8,212,829 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

Institutional Trading of Applied Industrial Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Wolverine Asset Management LLC purchased a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $1,044,000. Alps Advisors Inc. grew its stake in shares of Applied Industrial Technologies by 33.0% in the third quarter. Alps Advisors Inc. now owns 32,824 shares of the industrial products company’s stock worth $8,569,000 after acquiring an additional 8,153 shares during the period. Citigroup Inc. raised its holdings in shares of Applied Industrial Technologies by 44.4% during the third quarter. Citigroup Inc. now owns 30,319 shares of the industrial products company’s stock valued at $7,915,000 after purchasing an additional 9,321 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Applied Industrial Technologies by 27.3% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 46,126 shares of the industrial products company’s stock valued at $12,041,000 after purchasing an additional 9,898 shares during the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Applied Industrial Technologies by 210.3% in the 3rd quarter. AlphaQuest LLC now owns 12,789 shares of the industrial products company’s stock worth $3,339,000 after buying an additional 8,668 shares during the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Applied Industrial Technologies Company 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.