Pinnacle Associates Ltd. boosted its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) by 3.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 176,683 shares of the electronics maker's stock after purchasing an additional 6,217 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.47% of Advanced Energy Industries worth $19,244,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Advanced Energy Industries by 157.6% in the 2nd quarter. GAMMA Investing LLC now owns 626 shares of the electronics maker's stock worth $68,000 after purchasing an additional 383 shares in the last quarter. Canada Pension Plan Investment Board acquired a new stake in Advanced Energy Industries in the second quarter worth about $87,000. Blue Trust Inc. grew its stake in shares of Advanced Energy Industries by 2,150.0% during the third quarter. Blue Trust Inc. now owns 810 shares of the electronics maker's stock worth $88,000 after acquiring an additional 774 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Advanced Energy Industries by 28.0% during the third quarter. Signaturefd LLC now owns 1,007 shares of the electronics maker's stock valued at $106,000 after acquiring an additional 220 shares in the last quarter. Finally, Hilltop National Bank increased its holdings in shares of Advanced Energy Industries by 13.4% during the second quarter. Hilltop National Bank now owns 983 shares of the electronics maker's stock valued at $107,000 after acquiring an additional 116 shares in the last quarter. 99.67% of the stock is owned by hedge funds and other institutional investors.
Advanced Energy Industries Stock Performance
AEIS stock traded down $3.24 during trading on Wednesday, hitting $107.77. 239,239 shares of the company traded hands, compared to its average volume of 209,876. Advanced Energy Industries, Inc. has a 1 year low of $81.86 and a 1 year high of $119.75. The company has a market cap of $4.06 billion, a PE ratio of 44.90, a P/E/G ratio of 5.41 and a beta of 1.49. The stock's 50-day simple moving average is $104.05 and its 200 day simple moving average is $104.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 5.47 and a quick ratio of 4.22.
Advanced Energy Industries (NASDAQ:AEIS - Get Free Report) last posted its earnings results on Tuesday, July 30th. The electronics maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.14. Advanced Energy Industries had a net margin of 6.00% and a return on equity of 10.43%. The firm had revenue of $364.95 million during the quarter, compared to analyst estimates of $350.06 million. During the same period in the previous year, the firm earned $0.95 EPS. The business's quarterly revenue was down 12.2% on a year-over-year basis. On average, equities analysts expect that Advanced Energy Industries, Inc. will post 2.47 earnings per share for the current fiscal year.
Advanced Energy Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 26th were issued a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $0.40 dividend on an annualized basis and a yield of 0.37%. Advanced Energy Industries's payout ratio is 16.67%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AEIS. Citigroup downgraded shares of Advanced Energy Industries from a "buy" rating to a "neutral" rating and set a $113.00 target price on the stock. in a research report on Monday, July 15th. Susquehanna dropped their price objective on shares of Advanced Energy Industries from $103.00 to $92.00 and set a "neutral" rating on the stock in a report on Friday, October 11th. Stifel Nicolaus started coverage on Advanced Energy Industries in a research report on Thursday, August 15th. They issued a "buy" rating and a $135.00 target price on the stock. StockNews.com cut Advanced Energy Industries from a "hold" rating to a "sell" rating in a research report on Friday, September 20th. Finally, Robert W. Baird initiated coverage on Advanced Energy Industries in a research note on Friday, September 20th. They issued an "outperform" rating and a $128.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $113.11.
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About Advanced Energy Industries
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Free Report)
Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.
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