SCHEDULE 13G/A: BlackRock Discloses 8.6% Stake in Applied Industrial Technologies
Beneficial Ownership Disclosure
BlackRock, Inc. has filed an amended Schedule 13G, reporting an 8.6% beneficial ownership stake in Applied Industrial Technologies Inc. common stock.
Summary
- BlackRock, Inc. beneficially owns 3,275,991 shares of Applied Industrial Technologies Inc. common stock.
- This ownership represents 8.6% of the total class of securities.
- BlackRock holds sole voting power over 3,164,590 shares and sole dispositive power over 3,275,991 shares.
- The filing is an Amendment No. 6 to a previously filed Schedule 13G.
- BlackRock certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
- BlackRock Fund Advisors, a subsidiary of BlackRock, Inc., beneficially owns 5% or greater of the outstanding shares of the security class.
Sentiment
Score: 5
Explanation: Neutral, as this is a routine disclosure of passive ownership and does not contain performance or strategic information about the issuer.
Positives
- BlackRock, a major institutional investor, maintains a significant stake in Applied Industrial Technologies Inc., indicating continued confidence in the company as a passive investment.
Negatives
- No specific negative information regarding Applied Industrial Technologies Inc. is disclosed in this ownership filing.
Risks
- No specific risks related to Applied Industrial Technologies Inc. are detailed in this ownership filing.
Future Outlook
NA
Industry Context
NA
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Attorney-in-fact for BlackRock, Inc. | Previous attorneys-in-fact under the April 30, 2023 Power of Attorney | Eric Andruczyk, Richard Cundiff, R. Andrew Dickson, III, Spencer Fleming, Laura Hildner, David Maryles, Christopher Meade, Charles Park, James Raby, Daniel Riemer, David Rothenberg, Brenda Schulz | 2025-01-21 | New Power of Attorney issued by BlackRock, Inc., revoking the previous one to authorize specific individuals for SEC and other regulatory filings. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Power of Attorney Update | BlackRock, Inc. updated its Power of Attorney, effective January 21, 2025, revoking the prior one dated April 30, 2023. This document authorizes specific individuals to execute and file various SEC and non-US regulatory documents on behalf of BlackRock and its affiliates. | 2025-01-21 | Streamlines BlackRock's internal process for compliance with ownership and control-person reporting requirements. |
Stakeholder Impact
- Shareholders: Provides transparency regarding a significant institutional investor's stake, confirming BlackRock's passive investment intent.
- Management: Awareness of a large, passive institutional holder in the company's common stock.
Key Dates
| Date | Description |
|---|---|
| 2023-04-30 | Date of the previous Power of Attorney, which was revoked by the new one. |
| 2025-01-21 | Effective date of the new Power of Attorney for BlackRock, Inc. |
| 2025-06-30 | Date of event which requires the filing of this statement. |
| 2025-07-17 | Date of filing and signature by BlackRock, Inc. |
Keywords
BlackRock, Applied Industrial Technologies, AIT, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, SEC Filing
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.