Applied Industrial Technologies, Inc. (NYSE:AIT) Raises Dividend to $0.51 Per Share

Applied Industrial Technologies, Inc. (NYSE:AIT) announced a quarterly dividend on Tuesday, January 27th. Investors of record on Friday, February 13th will be given 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 0.8%. The ex-dividend date of this dividend 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%annually over the last three years and has raised its dividend annually for the last 16 consecutive years. Applied Industrial Technologies has a dividend payout ratio of 17.3% 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 $1.84 annual dividend with an expected future payout ratio of 17.1%.

Applied Industrial Technologies Trading Down 6.7%

NYSE:AIT traded down $18.99 during mid-day trading on Tuesday, reaching $262.55. 534,893 shares of the company’s stock traded hands, compared to its average volume of 324,585. Applied Industrial Technologies has a 12-month low of $199.96 and a 12-month high of $286.66. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.55 and a quick ratio of 2.50. The company has a 50 day moving average price of $263.42 and a 200-day moving average price of $261.55. The firm has a market capitalization of $9.90 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 2.86 and a beta of 0.87.

Applied Industrial Technologies (NYSE:AIT) last announced its earnings results on Tuesday, January 27th. The industrial products company reported $2.51 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.02. Applied Industrial Technologies had a return on equity of 21.86% and a net margin of 8.61%.The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.39 earnings per share. Applied Industrial Technologies has set its FY 2026 guidance at 10.450-10.750 EPS. On average, sell-side analysts predict that Applied Industrial Technologies will post 9.9 earnings per share for the current year.

Institutional Trading of Applied Industrial Technologies

A number of institutional investors and hedge funds have recently modified their holdings of AIT. 111 Capital bought a new position in shares of Applied Industrial Technologies during the 2nd quarter valued at $980,000. Envestnet Asset Management Inc. boosted its position in Applied Industrial Technologies by 38.6% in the second quarter. Envestnet Asset Management Inc. now owns 73,784 shares of the industrial products company’s stock worth $17,151,000 after purchasing an additional 20,535 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Applied Industrial Technologies during the 3rd quarter valued at about $1,044,000. Regents Gate Capital LLP bought a new position in shares of Applied Industrial Technologies in the 2nd quarter worth approximately $11,387,000. Finally, TimesSquare Capital Management LLC boosted its holdings in shares of Applied Industrial Technologies by 10.5% in the second quarter. TimesSquare Capital Management LLC now owns 86,434 shares of the industrial products company’s stock worth $20,092,000 after buying an additional 8,219 shares during the last quarter. Institutional investors 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.