M&T Bank Corp Has $715,000 Stock Position in Applied Industrial Technologies, Inc. $AIT

M&T Bank Corp raised its holdings in Applied Industrial Technologies, Inc. (NYSE:AIT) by 208.0% in the 4th quarter, HoldingsChannel reports. The fund owned 2,784 shares of the industrial products company’s stock after acquiring an additional 1,880 shares during the period. M&T Bank Corp’s holdings in Applied Industrial Technologies were worth $715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its position in Applied Industrial Technologies by 890.0% in the 3rd quarter. Smartleaf Asset Management LLC now owns 99 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 89 shares during the period. Root Financial Partners LLC acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $27,000. Abich Financial Wealth Management LLC acquired a new position in Applied Industrial Technologies in the 3rd quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new position in Applied Industrial Technologies in the 4th quarter valued at approximately $34,000. Finally, Allworth Financial LP increased its position in Applied Industrial Technologies by 446.4% in the 3rd quarter. Allworth Financial LP now owns 153 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 125 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on AIT shares. Weiss Ratings restated a “buy (b)” rating on shares of Applied Industrial Technologies in a research report on Friday, April 24th. Oppenheimer upped their price target on shares of Applied Industrial Technologies from $300.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Wall Street Zen cut shares of Applied Industrial Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. KeyCorp increased their price objective on shares of Applied Industrial Technologies from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 26th. Finally, Robert W. Baird set a $317.00 price objective on shares of Applied Industrial Technologies in a research report on Wednesday, April 29th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $313.67.

Insider Transactions at Applied Industrial Technologies

In related news, VP Warren E. Hoffner III sold 8,000 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $306.04, for a total transaction of $2,448,320.00. Following the transaction, the vice president directly owned 40,751 shares of the company’s stock, valued at $12,471,436.04. This represents a 16.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Applied Industrial Technologies Trading Up 0.4%

AIT opened at $310.18 on Tuesday. Applied Industrial Technologies, Inc. has a twelve month low of $218.48 and a twelve month high of $317.10. 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 company has a fifty day moving average of $279.55 and a 200-day moving average of $270.41. The stock has a market cap of $11.46 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 2.94 and a beta of 0.86.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. Applied Industrial Technologies had a net margin of 8.34% and a return on equity of 21.64%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period in the prior year, the company posted $2.57 earnings per share. Applied Industrial Technologies’s revenue for the quarter was up 7.3% compared to the same quarter last year. 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. On average, sell-side analysts predict that Applied Industrial Technologies, Inc. will post 10.7 EPS for the current year.

Applied Industrial Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $2.04 annualized dividend and a yield of 0.7%. Applied Industrial Technologies’s dividend payout ratio is currently 19.26%.

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.