M&T Bank Corp Acquires 299,960 Shares of Applied Industrial Technologies, Inc. $AIT

M&T Bank Corp raised its holdings in shares of Applied Industrial Technologies, Inc. (NYSE:AIT) by 33,181.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,864 shares of the industrial products company’s stock after acquiring an additional 299,960 shares during the period. M&T Bank Corp owned about 0.80% of Applied Industrial Technologies worth $81,322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AIT. Capital International Investors bought a new position in Applied Industrial Technologies during the third quarter valued at approximately $200,456,000. First Trust Advisors LP grew its position in Applied Industrial Technologies by 22.7% during the third quarter. First Trust Advisors LP now owns 933,067 shares of the industrial products company’s stock valued at $243,577,000 after acquiring an additional 172,857 shares during the last quarter. Royal London Asset Management Ltd. grew its position in 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 valued at $91,526,000 after acquiring an additional 161,048 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Applied Industrial Technologies by 24.7% during the third quarter. Wellington Management Group LLP now owns 769,441 shares of the industrial products company’s stock valued at $200,863,000 after purchasing an additional 152,197 shares during the period. Finally, UBS Group AG grew its holdings in shares of Applied Industrial Technologies by 71.8% in the third quarter. UBS Group AG now owns 299,575 shares of the industrial products company’s stock worth $78,204,000 after purchasing an additional 125,227 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Warren E. Hoffner III sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $288.62, for a total value of $1,154,480.00. Following the completion of the sale, the vice president owned 52,751 shares of the company’s stock, valued at $15,224,993.62. This trade represents a 7.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil A. Schrimsher sold 19,207 shares of the firm’s stock in a transaction 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 directly 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. 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 over the last quarter. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AIT. Wall Street Zen upgraded shares of Applied Industrial Technologies from a “hold” rating to a “buy” rating in a report on Saturday, April 11th. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a report on Monday, December 29th. Finally, KeyCorp raised their target price on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.00.

Applied Industrial Technologies Stock Down 0.2%

Shares of Applied Industrial Technologies stock opened at $293.32 on Wednesday. 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, Inc. has a 52-week low of $213.78 and a 52-week high of $297.28. The stock has a market capitalization of $10.94 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 2.81 and a beta of 0.82. The company’s 50 day moving average price is $274.40 and its 200-day moving average price is $266.06.

Applied Industrial Technologies (NYSE:AIT) last issued its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the business earned $2.39 earnings per share. The business’s revenue 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 forecast that Applied Industrial Technologies, Inc. will post 10.65 EPS for the current year.

Applied Industrial Technologies Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 0.7%. Applied Industrial Technologies’s payout ratio is 19.41%.

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.