Vanguard Group Inc. reduced its holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,737,657 shares of the electronics maker’s stock after selling 135,358 shares during the period. Vanguard Group Inc. owned approximately 12.55% of Advanced Energy Industries worth $991,923,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. AG bought a new stake in Advanced Energy Industries in the fourth quarter valued at approximately $2,607,000. M&T Bank Corp increased its stake in Advanced Energy Industries by 266.0% in the fourth quarter. M&T Bank Corp now owns 28,104 shares of the electronics maker’s stock valued at $5,884,000 after purchasing an additional 20,425 shares in the last quarter. Krilogy Financial LLC bought a new stake in Advanced Energy Industries in the fourth quarter valued at approximately $174,000. Bayforest Capital Ltd bought a new stake in Advanced Energy Industries in the fourth quarter valued at approximately $29,000. Finally, Merit Financial Group LLC bought a new stake in Advanced Energy Industries in the fourth quarter valued at approximately $1,788,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.
Advanced Energy Industries Stock Up 1.3%
Advanced Energy Industries stock opened at $389.05 on Friday. The stock has a market capitalization of $14.73 billion, a PE ratio of 101.85, a price-to-earnings-growth ratio of 2.81 and a beta of 1.40. Advanced Energy Industries, Inc. has a twelve month low of $106.48 and a twelve month high of $397.44. The company has a 50 day moving average of $341.89 and a 200-day moving average of $268.04.
Advanced Energy Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Monday, February 23rd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, February 23rd. Advanced Energy Industries’s dividend payout ratio is 10.47%.
Analysts Set New Price Targets
Several brokerages have commented on AEIS. Zacks Research downgraded shares of Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 9th. Bank of America upped their target price on shares of Advanced Energy Industries from $260.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Citigroup upped their target price on shares of Advanced Energy Industries from $330.00 to $385.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Wall Street Zen raised shares of Advanced Energy Industries from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Wells Fargo & Company upped their target price on shares of Advanced Energy Industries from $300.00 to $340.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Advanced Energy Industries currently has a consensus rating of “Moderate Buy” and an average price target of $322.50.
Insider Buying and Selling
In other news, CEO Stephen Douglas Kelley sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $316.62, for a total value of $15,831,000.00. Following the completion of the transaction, the chief executive officer owned 80,376 shares in the company, valued at $25,448,649.12. This represents a 38.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lanesha Minnix sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $316.62, for a total transaction of $316,620.00. Following the completion of the transaction, the director owned 4,585 shares of the company’s stock, valued at $1,451,702.70. This trade represents a 17.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 58,478 shares of company stock valued at $18,567,013. 1.30% of the stock is owned by corporate insiders.
About Advanced Energy Industries
Advanced Energy Industries, Inc is a global technology company specializing in precision power conversion, measurement, and control solutions. The company designs and manufactures a broad portfolio of products including high-voltage power supplies, RF and microwave generators, digital power controllers, reactive gas control systems, and thin film measurement instruments. These solutions enable advanced processes in semiconductor fabrication, flat panel display manufacturing, industrial coating, data storage, telecommunications and medical device production.
Founded in 1981 and headquartered in Fort Collins, Colorado, Advanced Energy has grown through strategic product development and international expansion.
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