Applied Indl Technologies Inc Stock Price, News & Analysis

Applied Industrial Technologies (NYSE: AIT) has been awarded the NorthCoast 99 Platinum Award for 2021, marking its 20th recognition as one of Northeast Ohio's best workplaces. This accolade reflects the company's strong commitment to attracting, developing, and retaining top talent through comprehensive training programs and a supportive workplace culture. The NorthCoast 99 program honors organizations for their effectiveness in employee engagement, well-being, diversity, and overall talent management.

Applied Industrial Technologies (NYSE: AIT) has acquired R.R. Floody Company, enhancing its automation offerings in machine vision, robotics, and motion control. Although the transaction terms were not disclosed, the acquisition is expected to bolster Applied's presence in the U.S. Midwest market. Floody specializes in advanced facility automation and serves diversified industries, including food and beverage and medical technology. This strategic move aligns with Applied's objectives to scale its automation capabilities into early fiscal 2022.

Applied Industrial Technologies (AIT) reported strong fiscal 2021 Q4 results, with net sales rising 23.6% to $895.9 million, driven by organic growth of 19.8%. Net income reached $59.2 million ($1.51 per share), aided by a LIFO liquidation benefit. For the fiscal year, sales slightly decreased by 0.3% to $3.2 billion, while non-GAAP adjusted net income was $186.4 million ($4.74 per share). For fiscal 2022, AIT predicts EPS of $5.00 to $5.40, with sales growth of 8% to 10%. The company also repurchased 400,000 shares for $40.1 million.

Applied Industrial Technologies (NYSE: AIT) has rescheduled its fiscal 2021 fourth quarter and full-year earnings release to August 17, 2021, prior to market opening. The subsequent conference call will occur at 10 a.m. ET on the same day to discuss their performance and future outlook, with a detailed presentation available on their Investor Relations website. The call can be accessed via phone or through a live audio webcast, ensuring investors and analysts can participate effectively.

Applied Industrial Technologies (NYSE: AIT) will announce its fiscal 2021 fourth quarter and full-year financial results on August 11, 2021, before market opens. This announcement follows the end of the fourth quarter on June 30, 2021. An analyst conference call is scheduled for 10 a.m. ET on the same day to discuss performance and future outlook. Additionally, a detailed presentation will be accessible on the company's Investor Relations website. Interested parties can join the call by dialing provided numbers, and replays will be available for two weeks.

Applied Industrial Technologies (NYSE:AIT) has released its annual Product Catalog for 2021/2022, featuring over 30,000 industrial products for MRO and OEM customers. The catalog includes tools, bearings, power transmission components, safety products, and a 48-page Technical Section with vital resources such as formulas and troubleshooting guides. Print copies are available for free at over 300 service centers, while the digital version can be accessed via a mobile app or online. This catalog aims to simplify customer procurement processes, according to Jason Vasquez, VP of Sales & Marketing.

Applied Industrial Technologies (NYSE: AIT) has declared a quarterly cash dividend of $0.33 per common share, payable on August 31, 2021, to shareholders of record on August 16, 2021. Additionally, the Company will hold its Annual Meeting of Shareholders at 9:00 a.m. EDT on October 26, 2021, at its Corporate Headquarters in Cleveland, Ohio. The record date for this meeting is August 27, 2021.

Applied Industrial Technologies (NYSE: AIT) reported a 1.2% increase in net sales for its fiscal 2021 third quarter, totaling $840.9 million. The company achieved a net income of $56.1 million, or $1.42 per share, including a non-routine income of $2.6 million. Organic sales growth was modest at 0.4%. Looking ahead, the company projects a 12% to 13% increase in sales for the fourth quarter compared to the last year. A quarterly cash dividend of $0.33 per share was also declared, payable on May 28, 2021.

Applied Industrial Technologies (NYSE: AIT) will release its fiscal 2021 third quarter financial results on April 29, 2021, prior to market opening. The quarter ended on March 31, 2021. Investors and analysts can join the conference call at 10 a.m. ET on the same day, where key executives will discuss the company's performance. A detailed investor deck will be accessible on the company’s website. The call can be attended via phone or a live audio webcast, and replays will be available for two weeks following the event.