A Brief History of Applied Industrial Technologies, Inc. (AIT)

Foundation and Early Growth

Applied Industrial Technologies, Inc. (AIT) was founded in 1923. Initially operating under the name of Applied Industrial Technologies, the company established its roots in Cleveland, Ohio. Over the decades, AIT expanded its operations through strategic acquisitions and organic growth.

Key Acquisitions

The company has made significant acquisitions to enhance its product offerings and market reach. Key acquisitions include:

• 1995: Acquisition of **Kaman Industrial Technologies** - This expanded AIT's customer base into the aerospace sector.
• 2010: Acquisition of **Power Transmission Solutions** - Enhanced their presence in power transmission systems.
• 2021: Acquisition of **Rogers Industrial Supply** - Improved AIT's position in the Midwest.

Financial Performance

As of fiscal year 2023, Applied Industrial Technologies reported the following financial metrics:

Market Position

AIT operates in various sectors, including:

• Aerospace
• Energy
• Transportation
• Manufacturing

As of 2023, AIT holds a market share of approximately **2.1%** in the industrial distribution sector.

Employee Base

As of 2023, Applied Industrial Technologies employs over **4,500** individuals across its branches and subsidiaries, reflecting substantial workforce growth over the past decade.

Recent Developments

In **2023**, AIT launched several key initiatives to enhance operational efficiency and sustainability, including:

• Implementation of **automated inventory management systems**.
• Investment of **$10 million** in renewable energy technologies.
• Partnership with **local educational institutions** to support workforce development.

Stock Performance

As of October 2023, AIT’s stock is trading at around **$60 per share** with a **market capitalization** of approximately **$1.8 billion**. The company has consistently returned value to shareholders with a **dividend yield** of **2.5%**.

A Who Owns Applied Industrial Technologies, Inc. (AIT)

Overview of Ownership Structure

Applied Industrial Technologies, Inc. (AIT) operates in the industrial distribution sector. The ownership structure of AIT consists primarily of institutional and individual investors, including company executives and directors.

Institutional Ownership

As of October 2023, institutional investors hold approximately 84.3% of AIT's outstanding shares. Key institutional shareholders include:

Insider Ownership

Insider ownership represents a smaller portion of AIT's total shares. As of the latest filings, insiders hold approximately 5.8% of the total shares. Notable insiders include:

Shareholder Information

AIT's shares are publicly traded on the New York Stock Exchange under the ticker symbol AIT. The total number of outstanding shares is approximately 13.5 million.

Recent Stock Performance

As of October 2023, the stock price of AIT has shown significant fluctuations. The following statistics represent the recent performance:

Recent Financial Data

Applied Industrial Technologies has reported its latest financial results for the fiscal year ending June 30, 2023:

Conclusion of Ownership Dynamics

As evident from the data, AIT’s ownership is primarily dominated by institutional investors, with substantial insider involvement. This ownership distribution plays a significant role in the governance and strategic direction of the company.

Applied Industrial Technologies, Inc. (AIT) Mission Statement

Mission Statement Overview

Applied Industrial Technologies, Inc. (AIT) positions itself as a leading distributor of industrial products and services. The company’s mission is to provide customers with high-quality products and exceptional service to ensure their operational efficiency and success.

Core Values

• Customer Focus: AIT prioritizes customer satisfaction through tailored solutions.
• Integrity: The company emphasizes honesty and transparency in all dealings.
• Innovation: AIT is committed to continuous improvement and technological advancements.
• Teamwork: Collaboration among employees is key to achieving common goals.
• Safety: The organization prioritizes the safety of its employees and customers.

Financial Performance

For the fiscal year 2022, AIT reported revenue of approximately $1.1 billion. The gross profit margin was 26.3% and the operating income was around $142 million.

Market Position

AIT ranks as one of the top 50 industrial distributors in North America. As of the latest industry report, the industrial distribution market is projected to grow to $200 billion by 2026, and AIT aims to capture a significant share of this market.

Service Offerings

• Fluid Power: $300 million in sales
• Power Transmission: $250 million in sales
• Industrial Rubber Products: $150 million in sales
• Tools & Equipment: $100 million in sales
• Safety Products: $75 million in sales

Customer Base

AIT serves over 60,000 customers across diverse industries, including manufacturing, construction, and maintenance. The company has established long-standing relationships with several Fortune 500 companies.

Employee Commitment

AIT employs approximately 2,000 individuals. The company invests in employee development, with an average training investment of $1,200 per employee annually.

Environmental Initiatives

The company has committed to reducing greenhouse gas emissions by 25% by 2030. AIT has implemented energy-efficient practices, aiming for 50% of its facilities to be LEED certified by 2025.

Recent Achievements

• Acquisition of ABC Industrial: AIT expanded its market reach by acquiring ABC Industrial for $50 million in 2022.
• Launch of New E-Commerce Platform: In 2023, AIT invested $5 million in a new e-commerce platform, significantly increasing online sales.
• Recognition: AIT was named one of the 2023 Top Workplaces in the US.

Investment in Technology

AIT allocates approximately $10 million annually towards research and development to enhance product offerings and service delivery.

Conclusion on Mission Alignment

AIT’s mission aligns with its financial and operational goals, reinforcing its dedication to providing superior products and services while maintaining a strong commitment to sustainability and corporate responsibility.

How Applied Industrial Technologies, Inc. (AIT) Works

Overview of AIT

Applied Industrial Technologies, Inc. (AIT) operates as a distributor of industrial products and services. The company was founded in 1923 and has established itself as a key player in the industrial distribution sector.

Business Segments

• Fluid Power
• Power Transmission
• Industrial Rubber Products
• Maintenance, Repair and Operations (MRO)

Financial Performance

As of fiscal year 2023, AIT reported the following financial figures:

Market Presence

AIT operates more than 200 facilities across North America. The company serves over 50,000 customers in various industries including manufacturing, food processing, and oil and gas.

Distribution Network

The company’s distribution strategy is supported by:

• Multiple distribution centers
• Extensive supplier relationships
• Technological solutions for inventory management

Employee Base

AIT employs approximately 3,000 people, emphasizing a workforce skilled in technical and customer service roles.

Supplier Relationships

AIT partners with over 2,000 suppliers, ensuring access to a broad range of industrial products.

Customer Base

The company’s customers include:

• Manufacturing companies
• Construction firms
• Government entities
• Utilities

Technological Integration

AIT leverages technology to enhance service delivery, including:

• eCommerce platforms
• Real-time inventory systems
• Customer relationship management (CRM) software

Recent Acquisitions

AIT has undertaken strategic acquisitions to expand its market share. In 2022, the company acquired:

Sustainability Initiatives

AIT is committed to sustainability practices, focusing on:

• Reducing carbon footprint
• Implementing waste reduction programs
• Using energy-efficient technologies

Future Outlook

The company projects a revenue growth of approximately 6% for the fiscal year 2024, driven by:

• Increased market demand
• Expansion into new geographic areas
• Introduction of innovative product lines

Stock Performance

AIT's stock performance for the last fiscal year showed an increase with the following data:

How Applied Industrial Technologies, Inc. (AIT) Makes Money

Revenue Streams

Applied Industrial Technologies, Inc. (AIT) generates revenue through several primary streams:

• Distribution Services: This segment accounts for approximately 75% of total revenues, providing industrial supplies, bearings, fluid power, and other components.
• Value-Added Services: These include custom manufacturing and repair services, contributing about 25% of revenues.

Financial Performance

As of fiscal year 2023, AIT reported the following financials:

Profit Margins

AIT maintains various profit margins as follows:

• Gross Margin: 32.9%
• Operating Margin: 8.8%
• Net Profit Margin: 7.1%

Product Categories

The company's revenue is further categorized into specific product lines:

Geographic Revenue Distribution

Revenue distribution by region is also significant:

Strategic Initiatives

AIT engages in multiple strategic initiatives to bolster revenue:

• Acquisitions: Recent acquisitions aimed at expanding product offerings and market reach.
• Technology Investments: Implementing advanced inventory management systems to enhance operational efficiency.
• Sustainability Programs: Initiatives aimed at improving supply chain sustainability which can attract environmentally conscious customers.

Market Conditions

The industrial supply market has experienced fluctuations impacting revenue:

• Market Size (2023): Estimated at $450 billion.
• Annual Growth Rate: Projected at 5.2% through 2027.

Customer Segmentation

AIT serves a diverse set of customers across various industries:

• Manufacturing: 50% of revenue.
• Aerospace and Defense: 20% of revenue.
• Construction: 15% of revenue.
• Other: 15% of revenue.

Investment Highlights

Investors often focus on key financial indicators:

• Return on Equity (ROE): 15% in fiscal 2023.
• Dividend Yield: 2.5% as of October 2023.
• Debt-to-Equity Ratio: 0.59.