Applied Industrial Technologies Announces Dividend Increase
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2d ago
0mins
Source: seekingalpha
- Dividend Increase: Applied Industrial Technologies has raised its quarterly dividend from $0.46 to $0.51 per share, marking a 10.9% increase, which reflects the company's ongoing improvement in profitability and cash flow, thereby boosting investor confidence.
- Yield Metrics: The forward yield of this dividend stands at 0.72%, which, while relatively low, indicates the company's commitment to stable dividend payments, appealing to investors seeking consistent returns amidst market fluctuations.
- Payment Schedule: The new dividend will be payable on February 27, with a record date of February 13 and an ex-dividend date also on February 13, ensuring that existing shareholders can benefit from this increase, thereby strengthening shareholder relations.
- Historical Performance: The company has consistently paid a quarterly dividend of $0.46 over the past four quarters, and this increase signifies a positive outlook on sustained profitability and shareholder returns, potentially attracting more long-term investors to the stock.
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Analyst Views on AIT
Wall Street analysts forecast AIT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AIT is 297.50 USD with a low forecast of 290.00 USD and a high forecast of 305.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 256.260
Low
290.00
Averages
297.50
High
305.00
Current: 256.260
Low
290.00
Averages
297.50
High
305.00
About AIT
Applied Industrial Technologies, Inc. is a value-added distributor and technical solutions provider of industrial motion, fluid power, flow control, automation technologies, and related maintenance supplies. The Company’s segments include Service Center Based Distribution and Engineered Solutions. The Service Center Based Distribution segment operates through local service centers and distribution centers with a focus on providing products and services addressing the maintenance and repair of motion control infrastructure and production equipment. Its products include industrial bearings, motors, belting, drives, couplings, pumps, linear motion products, hydraulic and pneumatic components, filtration supplies, and hoses. The Engineered Solutions segment includes its operations that specialize in distributing, engineering, designing, integrating, and repairing hydraulic and pneumatic fluid power technologies, and engineered flow control products and services.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Applied Industrial Stock Drops 7.8% Following Q2 Earnings and Sales Misses
- Stock Performance: Applied Industrial shares fell by 7.8% following the release of their Q2 financial results.
- Financial Results: The company's profits and sales were reported to be below market estimates.
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