Elevation Point Wealth Partners LLC purchased a new stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,094 shares of the electronics maker’s stock, valued at approximately $2,272,000.
Several other hedge funds have also recently bought and sold shares of AEIS. Commerce Bank bought a new position in shares of Advanced Energy Industries during the second quarter valued at $1,280,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Advanced Energy Industries in the 2nd quarter valued at $849,000. Quantbot Technologies LP bought a new stake in shares of Advanced Energy Industries in the 2nd quarter worth about $2,484,000. Farringdon Capital Ltd. bought a new stake in shares of Advanced Energy Industries in the 2nd quarter worth about $214,000. Finally, Fourier Capital Management Ltd acquired a new stake in shares of Advanced Energy Industries during the 2nd quarter worth about $9,462,000. 99.67% of the stock is currently owned by institutional investors and hedge funds.
Advanced Energy Industries Price Performance
Shares of NASDAQ AEIS opened at $285.83 on Monday. Advanced Energy Industries, Inc. has a 12-month low of $144.09 and a 12-month high of $397.44. The firm’s 50-day simple moving average is $320.67 and its 200 day simple moving average is $326.84. The company has a quick ratio of 2.94, a current ratio of 3.79 and a debt-to-equity ratio of 0.78. The company has a market cap of $11.45 billion, a price-to-earnings ratio of 53.33 and a beta of 1.29.
Advanced Energy Industries Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Monday, August 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.1%. Advanced Energy Industries’s dividend payout ratio (DPR) is currently 7.46%.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on AEIS shares. Wells Fargo & Company raised shares of Advanced Energy Industries from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $345.00 to $465.00 in a report on Wednesday, July 1st. Robert W. Baird upped their price objective on shares of Advanced Energy Industries from $360.00 to $380.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 5th. Citigroup raised their price objective on shares of Advanced Energy Industries from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. KeyCorp lifted their target price on shares of Advanced Energy Industries from $375.00 to $415.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. Finally, Morgan Stanley boosted their target price on Advanced Energy Industries from $421.00 to $439.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $409.50.
Get Our Latest Report on Advanced Energy Industries
Insider Buying and Selling
In related news, EVP Elizabeth Karpinski Vonne sold 908 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $332.68, for a total value of $302,073.44. Following the completion of the transaction, the executive vice president owned 10,712 shares in the company, valued at $3,563,668.16. The trade was a 7.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Eduardo Bernal Acebedo sold 24,771 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $315.48, for a total value of $7,814,755.08. Following the transaction, the chief operating officer directly owned 23,109 shares in the company, valued at approximately $7,290,427.32. This represents a 51.74% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.30% of the company’s stock.
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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