Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

Applied Industrial Tech / Equity Bottom-Up

<ul><li>Applied Industrial Technologies reported a third quarter characterized by solid operational performance and a strengthening sales trajectory.</li><li>The company achieved 6% organic sales growth year-over-year, marking the highest quarterly increase in over two years and surpassing the high end of its guidance range.</li><li>This growth was primarily volume-driven, supported by broader customer spending and positive momentum across multiple end markets.</li></ul>

Applied Industrial Technologies reported a third quarter characterized by solid operational performance and a strengthening sales trajectory.The company achieved 6% organic sales growth year-over-year, marking the highest quarterly increase in over two years and surpassing the high end of its guidance range.This growth was primarily volume-driven, supported by broader customer spending and positive momentum across multiple end markets.

Applied Industrial Technologies (AIT) 6% Organic Growth Masks The Underperform Signal Beneath The Beat!

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>On Friday after the close, the S&amp;P DJI Index Committee announced changes to the S&amp;P 100, S&amp;P500, S&amp;P MidCap400, and S&amp;P SmallCap600. Changes happen at the close 15 March 2024.</li>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> and <a href="https://www.smartkarma.com/entities/deckers-outdoor-corp" target="_blank" data-smartkarma-citation="entities:3028:1" rel="noopener">Deckers Outdoor (DECK US)</a> replace <a href="https://www.smartkarma.com/entities/zions-bancorporation" target="_blank" data-smartkarma-citation="entities:9490:1" rel="noopener">Zions Bancorporation (ZION US)</a> and <a href="https://www.smartkarma.com/entities/whirlpool-corp" target="_blank" data-smartkarma-citation="entities:1538:1" rel="noopener">Whirlpool Corp (WHR US)</a> in the S&amp;P500. 2 changes to 400, 6 to 600.</li>
<li>The immediate reaction was to send SMCI up 12.5%. That's shortsighted. It pays to count the pennies involved. There are a LOT of pennies.</li>
</ul>


On Friday after the close, the S&amp;P DJI Index Committee announced changes to the S&amp;P 100, S&amp;P500, S&amp;P MidCap400, and S&amp;P SmallCap600. Changes happen at the close 15 March 2024.

Super Micro Computer (SMCI US) and Deckers Outdoor (DECK US) replace Zions Bancorporation (ZION US) and Whirlpool Corp (WHR US) in the S&amp;P500. 2 changes to 400, 6 to 600.
The immediate reaction was to send SMCI up 12.5%. That's shortsighted. It pays to count the pennies involved. There are a LOT of pennies.


S&P 500/400/600 Index Rebal - It's Not The Trade You Think

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>
<a href="https://www.smartkarma.com/entities/super-micro-computer-inc" target="_blank" data-smartkarma-citation="entities:7921:1" rel="noopener">Super Micro Computer (SMCI US)</a> and <a href="https://www.smartkarma.com/entities/deckers-outdoor-corp" target="_blank" data-smartkarma-citation="entities:3028:1" rel="noopener">Deckers Outdoor (DECK US)</a> replace <a href="https://www.smartkarma.com/entities/whirlpool-corp" target="_blank" data-smartkarma-citation="entities:1538:1" rel="noopener">Whirlpool Corp (WHR US)</a> and <a href="https://www.smartkarma.com/entities/zions-bancorporation" target="_blank" data-smartkarma-citation="entities:9490:1" rel="noopener">Zions Bancorporation (ZION US)</a> in the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX</a> at the close on 15 March.</li>
<li>There are a bunch of inclusions, deletions and migrations across the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a>, the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.</li>
<li>The largest flows will be in the <a href="https://www.smartkarma.com/entities/s-p-500-index" target="_blank" data-smartkarma-citation="entities:22886:1" rel="noopener">S&amp;P 500 INDEX (SPX INDEX)</a> adds and the largest impact in the adds to the S&amp;P SmallCap 600 Index.</li>
</ul>



Super Micro Computer (SMCI US) and Deckers Outdoor (DECK US) replace Whirlpool Corp (WHR US) and Zions Bancorporation (ZION US) in the S&amp;P 500 INDEX at the close on 15 March.
There are a bunch of inclusions, deletions and migrations across the S&amp;P 500 INDEX (SPX INDEX), the S&amp;P Midcap 400 Index, and the S&amp;P SmallCap 600 Index.
The largest flows will be in the S&amp;P 500 INDEX (SPX INDEX) adds and the largest impact in the adds to the S&amp;P SmallCap 600 Index.


S&P500 Index Rebalance: SPCY Additions & Large Impact

<ul><li>Applied Industrial Technologies delivered second quarter results that reflected steady execution against guidance amid uneven industrial demand and elevated inflation-related accounting headwinds.</li><li>Reported organic sales growth of 2.2% moderated sequentially, influenced by seasonally weak December activity and customer shipment timing, though management emphasized that underlying trends improved through November and reaccelerated early in the third quarter.</li><li>January organic sales were trending up at a mid-single-digit rate year over year, supported by strengthening booking activity across both operating segments.</li></ul>

Applied Industrial Technologies delivered second quarter results that reflected steady execution against guidance amid uneven industrial demand and elevated inflation-related accounting headwinds.Reported organic sales growth of 2.2% moderated sequentially, influenced by seasonally weak December activity and customer shipment timing, though management emphasized that underlying trends improved through November and reaccelerated early in the third quarter.January organic sales were trending up at a mid-single-digit rate year over year, supported by strengthening booking activity across both operating segments.

Applied Industrial Technologies (AIT) Is Seeing Orders Surge — But Can Backlog Conversion Keep Pace?

<ul><li>Applied Industrial Technologies reported a solid start to fiscal 2026, registering a 9.2% increase in consolidated sales over the prior year.</li><li>This performance was driven by acquisition contributions and organic sales growth of 3%.</li><li>Their EBITDA and EPS grew by 13% and 11%, respectively, exceeding expectations, and consolidating the company's strategic initiatives in cost control and gross margin improvements.</li></ul>

Applied Industrial Technologies reported a solid start to fiscal 2026, registering a 9.2% increase in consolidated sales over the prior year.This performance was driven by acquisition contributions and organic sales growth of 3%.Their EBITDA and EPS grew by 13% and 11%, respectively, exceeding expectations, and consolidating the company's strategic initiatives in cost control and gross margin improvements.

Applied Industrial Technologies’ Acquisition Strategy: Inside the Hydradyne Power Play!

United States

Applied Industrial Technologies, Inc. distributes bearings and seals, power transmission and fluid power components, hydraulic and pneumatic components, industrial rubber products, linear components, and general maintenance items. The Company also provides engineering design and systems integration services, as well as mechanical, fabricated rubber, and fluid power shop services.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Applied Industrial Tech (AIT US)

Applied Industrial Technologies (AIT) 6% Organic Growth Masks The Underperform Signal Beneath The Beat!

Applied Industrial Technologies reported a third quarter characterized by solid operational performance and a strengthening sales trajectory. The...

Baptista Research

S&P 500/400/600 Index Rebal - It's Not The Trade You Think

The S&P DJI Index Committee announced the March index rebals. Everybody is looking at SMCI because it has run hard til now. That's missing the...

Travis Lundy

S&P500 Index Rebalance: SPCY Additions & Large Impact

There are bunch of adds, deletes and migrations for the SnP 500/400/600 indices in March. The largest inflows are on the SP500 adds but the largest...

Brian Freitas

Applied Industrial Technologies (AIT) Is Seeing Orders Surge — But Can Backlog Conversion Keep Pace?

Applied Industrial Technologies delivered second quarter results that reflected steady execution against guidance amid uneven industrial demand...

Baptista Research

Applied Industrial Technologies’ Acquisition Strategy: Inside the Hydradyne Power Play!

Applied Industrial Technologies reported a solid start to fiscal 2026, registering a 9.2% increase in consolidated sales over the prior year. This...

Baptista Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Applied Industrial Technologies (AIT) 6% Organic Growth Masks The Underperform Signal Beneath The Beat!

Applied Industrial Technologies reported a third quarter characterized by solid operational performance and a strengthening sales trajectory. The...

Baptista Research

S&P 500/400/600 Index Rebal - It's Not The Trade You Think

​The S&P DJI Index Committee announced the March index rebals. Everybody is looking at SMCI because it has run hard til now. That's missing the...

Travis Lundy

S&P500 Index Rebalance: SPCY Additions & Large Impact

There are bunch of adds, deletes and migrations for the SnP 500/400/600 indices in March. The largest inflows are on the SP500 adds but the largest...

Brian Freitas

Applied Industrial Technologies (AIT) Is Seeing Orders Surge — But Can Backlog Conversion Keep Pace?

Applied Industrial Technologies delivered second quarter results that reflected steady execution against guidance amid uneven industrial demand...

Baptista Research

Applied Industrial Technologies’ Acquisition Strategy: Inside the Hydradyne Power Play!

Applied Industrial Technologies reported a solid start to fiscal 2026, registering a 9.2% increase in consolidated sales over the prior year. This...

Baptista Research

The S&P DJI Index Committee announced the March index rebals. Everybody is looking at SMCI because it has run hard til now. That's missing the...