Applied Industrial Technologies, Inc. (AIT) to Issue Quarterly Dividend of $0.51 on February 27th

Applied Industrial Technologies, Inc. (NYSE:AIT) declared a quarterly dividend on Tuesday, January 27th. Stockholders of record on Friday, February 13th will be paid a dividend of 0.51 per share by the industrial products company on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 13th. This is a 10.9% increase from Applied Industrial Technologies’s previous quarterly dividend of $0.46.

Applied Industrial Technologies has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 16 consecutive years. Applied Industrial Technologies has a payout ratio of 19.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Applied Industrial Technologies to earn $10.77 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 18.9%.

Applied Industrial Technologies Stock Up 0.4%

Shares of Applied Industrial Technologies stock opened at $283.69 on Wednesday. The business has a 50-day moving average price of $268.35 and a 200 day moving average price of $262.54. Applied Industrial Technologies has a fifty-two week low of $199.96 and a fifty-two week high of $295.26. The firm has a market cap of $10.58 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.87 and a beta of 0.84. The company has a quick ratio of 2.56, a current ratio of 3.68 and a debt-to-equity ratio of 0.31.

Applied Industrial Technologies (NYSE:AIT) last released its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.17 billion. Applied Industrial Technologies had a return on equity of 21.74% and a net margin of 8.49%.Applied Industrial Technologies’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.39 EPS. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, sell-side analysts forecast that Applied Industrial Technologies will post 9.9 earnings per share for the current fiscal year.

Insider Activity at Applied Industrial Technologies

In other news, VP Warren E. Hoffner III sold 4,000 shares of Applied Industrial Technologies stock in a transaction that occurred on 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction, the chief executive officer owned 130,528 shares of the company’s stock, valued at approximately $37,311,428.80. This represents a 12.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,654 shares of company stock worth $8,212,829 in the last ninety days. 1.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Capital International Investors acquired a new position in shares of Applied Industrial Technologies during the third quarter valued at $200,456,000. Norges Bank bought a new position in Applied Industrial Technologies in the 4th quarter valued at about $125,044,000. Qube Research & Technologies Ltd acquired a new position in Applied Industrial Technologies during the 2nd quarter valued at about $81,722,000. M&T Bank Corp raised its position in shares of Applied Industrial Technologies by 33,181.4% during the 4th quarter. M&T Bank Corp now owns 300,864 shares of the industrial products company’s stock worth $81,322,000 after buying an additional 299,960 shares in the last quarter. Finally, Dundas Partners LLP raised its position in shares of Applied Industrial Technologies by 12,956.0% during the 2nd quarter. Dundas Partners LLP now owns 266,212 shares of the industrial products company’s stock worth $61,881,000 after buying an additional 264,173 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.