Pitcairn Co. Sells 413 Shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Pitcairn Co. lessened its position in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 8.8% in the third quarter, HoldingsChannel.com reports. The fund owned 4,286 shares of the electronics maker’s stock after selling 413 shares during the period. Pitcairn Co.’s holdings in Advanced Energy Industries were worth $451,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Atria Investments Inc acquired a new stake in shares of Advanced Energy Industries in the 1st quarter valued at $1,226,000. Oppenheimer Asset Management Inc. lifted its position in shares of Advanced Energy Industries by 36.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 38,699 shares of the electronics maker’s stock worth $4,209,000 after buying an additional 10,243 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Advanced Energy Industries by 22.4% in the second quarter. The Manufacturers Life Insurance Company now owns 647,682 shares of the electronics maker’s stock valued at $70,442,000 after buying an additional 118,328 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Advanced Energy Industries by 7.8% during the second quarter. Public Sector Pension Investment Board now owns 82,345 shares of the electronics maker’s stock worth $8,956,000 after acquiring an additional 5,930 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Advanced Energy Industries by 13.5% in the second quarter. Earnest Partners LLC now owns 1,681,776 shares of the electronics maker’s stock worth $182,910,000 after acquiring an additional 199,578 shares during the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Insiders Place Their Bets

In related news, Director Lanesha Minnix sold 1,000 shares of Advanced Energy Industries stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $111.72, for a total transaction of $111,720.00. Following the transaction, the director now owns 5,092 shares of the company’s stock, valued at $568,878.24. The trade was a 16.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.87% of the company’s stock.

Advanced Energy Industries Price Performance

Shares of NASDAQ:AEIS opened at $117.21 on Wednesday. Advanced Energy Industries, Inc. has a twelve month low of $89.11 and a twelve month high of $120.81. The stock’s 50 day moving average is $108.24 and its 200-day moving average is $106.99. The company has a quick ratio of 3.32, a current ratio of 4.62 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 102.82, a PEG ratio of 6.77 and a beta of 1.48.

Advanced Energy Industries (NASDAQ:AEIS) last released its quarterly earnings data on Wednesday, October 30th. The electronics maker reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.07. The firm had revenue of $374.20 million for the quarter, compared to the consensus estimate of $372.49 million. Advanced Energy Industries had a net margin of 2.91% and a return on equity of 9.02%. The business’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 earnings per share. Sell-side analysts forecast that Advanced Energy Industries, Inc. will post 2.52 EPS for the current fiscal year.

Advanced Energy Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, November 25th. This represents a $0.40 dividend on an annualized basis and a yield of 0.34%. Advanced Energy Industries’s dividend payout ratio (DPR) is currently 35.09%.

Analyst Ratings Changes

A number of research firms have weighed in on AEIS. Baird R W raised shares of Advanced Energy Industries to a “strong-buy” rating in a research note on Friday, September 20th. Stifel Nicolaus initiated coverage on Advanced Energy Industries in a research report on Thursday, August 15th. They set a “buy” rating and a $135.00 target price for the company. Robert W. Baird decreased their price target on Advanced Energy Industries from $128.00 to $124.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Susquehanna cut their price objective on Advanced Energy Industries from $103.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, October 11th. Finally, Benchmark reissued a “buy” rating and set a $125.00 target price on shares of Advanced Energy Industries in a research note on Wednesday, November 20th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $113.75.

Advanced Energy Industries Company Profile

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.