Applied Industrial Technologies (NYSE:AIT) Stock Acquired Sen. Markwayne Mullin

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Applied Industrial Technologies, Inc. (NYSE:AIT). In a filing disclosed on January 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in Applied Industrial Technologies stock on January 2nd.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of iShares Core MSCI EAFE ETF (BATS:IEFA) on 1/8/2025.
• Sold $15,001 – $50,000 in shares of iShares MSCI Eurozone ETF (BATS:EZU) on 1/8/2025.
• Sold $1,001 – $15,000 in shares of Abbott Laboratories (NYSE:ABT) on 1/8/2025.
• Purchased $15,001 – $50,000 in shares of The Goldman Sachs Group (NYSE:GS) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Iron Mountain (NYSE:IRM) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Coherent (NYSE:COHR) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Credo Technology Group (NASDAQ:CRDO) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Westinghouse Air Brake Technologies (NYSE:WAB) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Dell Technologies (NYSE:DELL) on 1/2/2025.
• Purchased $15,001 – $50,000 in shares of Stride (NYSE:LRN) on 1/2/2025.

Applied Industrial Technologies Stock Performance

AIT opened at $260.24 on Friday. The firm has a market capitalization of $10.01 billion, a PE ratio of 26.37, a PEG ratio of 3.49 and a beta of 1.08. The company has a current ratio of 3.78, a quick ratio of 2.74 and a debt-to-equity ratio of 0.33. Applied Industrial Technologies, Inc. has a twelve month low of $176.32 and a twelve month high of $282.98. The firm’s 50-day moving average price is $257.05 and its 200 day moving average price is $233.58.

Applied Industrial Technologies (NYSE:AIT) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.21 by $0.18. Applied Industrial Technologies had a return on equity of 22.67% and a net margin of 8.62%. As a group, sell-side analysts expect that Applied Industrial Technologies, Inc. will post 9.77 EPS for the current fiscal year.

Applied Industrial Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Applied Industrial Technologies’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, February 14th. Applied Industrial Technologies’s dividend payout ratio is 18.64%.

Insider Activity at Applied Industrial Technologies

In other news, Director Mary Dean Hall sold 2,200 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $275.08, for a total transaction of $605,176.00. Following the completion of the sale, the director now owns 3,462 shares in the company, valued at approximately $952,326.96. The trade was a 38.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Warren E. Hoffner III sold 4,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $281.64, for a total transaction of $1,126,560.00. Following the completion of the sale, the vice president now directly owns 55,709 shares of the company’s stock, valued at $15,689,882.76. The trade was a 6.70 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Applied Industrial Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its holdings in shares of Applied Industrial Technologies by 9.9% in the second quarter. Squarepoint Ops LLC now owns 6,722 shares of the industrial products company’s stock valued at $1,304,000 after acquiring an additional 608 shares during the period. AQR Capital Management LLC increased its position in shares of Applied Industrial Technologies by 57.6% in the second quarter. AQR Capital Management LLC now owns 52,476 shares of the industrial products company’s stock valued at $10,120,000 after buying an additional 19,169 shares in the last quarter. Creative Planning raised its position in Applied Industrial Technologies by 13.2% during the second quarter. Creative Planning now owns 8,839 shares of the industrial products company’s stock worth $1,715,000 after acquiring an additional 1,034 shares during the last quarter. Quarry LP acquired a new stake in shares of Applied Industrial Technologies in the second quarter valued at approximately $39,000. Finally, Cetera Investment Advisers increased its position in Applied Industrial Technologies by 8.1% during the second quarter. Cetera Investment Advisers now owns 5,501 shares of the industrial products company’s stock worth $1,067,000 after buying an additional 412 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AIT. Mizuho started coverage on shares of Applied Industrial Technologies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $285.00 price target on the stock. Robert W. Baird raised their price objective on Applied Industrial Technologies from $250.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer increased their target price on shares of Applied Industrial Technologies from $260.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, November 14th. Loop Capital boosted their target price on Applied Industrial Technologies from $230.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, StockNews.com cut Applied Industrial Technologies from a “buy” rating to a “hold” rating in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $291.43.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

About Applied Industrial Technologies

Applied Industrial Technologies, Inc distributes industrial motion, power, control, and automation technology solutions in North America, Australia, New Zealand, and Singapore. It operates in two segments, Service Center Based Distribution, and Engineered Solutions. The company distributes bearings, power transmission products, engineered fluid power components and systems, specialty flow control solutions, advanced automation products, industrial rubber products, linear motion components, automation solutions, tools, safety products, oilfield supplies, and other industrial and maintenance supplies; and motors, belting, drives, couplings, pumps, hydraulic and pneumatic components, filtration supplies, valves, fittings, process instrumentation, actuators, and hoses, filtration supplies, as well as other related supplies for general operational needs of customers' machinery and equipment.