Lord Abbett & CO. LLC Increases Stock Position in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Lord Abbett & CO. LLC increased its position in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 6.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 403,679 shares of the electronics maker’s stock after buying an additional 23,395 shares during the quarter. Lord Abbett & CO. LLC owned about 1.07% of Advanced Energy Industries worth $42,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Earnest Partners LLC lifted its stake in shares of Advanced Energy Industries by 13.5% in the 2nd quarter. Earnest Partners LLC now owns 1,681,776 shares of the electronics maker’s stock valued at $182,910,000 after purchasing an additional 199,578 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Advanced Energy Industries by 1.7% in the second quarter. Dimensional Fund Advisors LP now owns 950,977 shares of the electronics maker’s stock valued at $103,428,000 after buying an additional 15,577 shares during the period. Geode Capital Management LLC lifted its position in Advanced Energy Industries by 1.7% during the third quarter. Geode Capital Management LLC now owns 884,402 shares of the electronics maker’s stock valued at $93,094,000 after buying an additional 15,030 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Advanced Energy Industries by 22.4% during the second quarter. The Manufacturers Life Insurance Company now owns 647,682 shares of the electronics maker’s stock worth $70,442,000 after buying an additional 118,328 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Advanced Energy Industries by 23.5% in the second quarter. Bank of New York Mellon Corp now owns 540,213 shares of the electronics maker’s stock worth $58,754,000 after acquiring an additional 102,659 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Advanced Energy Industries Stock Performance

Advanced Energy Industries stock opened at $117.22 on Friday. Advanced Energy Industries, Inc. has a 52 week low of $89.11 and a 52 week high of $120.81. The company has a current ratio of 4.62, a quick ratio of 3.32 and a debt-to-equity ratio of 0.48. The stock has a market cap of $4.42 billion, a P/E ratio of 102.82, a price-to-earnings-growth ratio of 6.92 and a beta of 1.47. The stock has a 50 day moving average of $112.38 and a 200-day moving average of $107.98.

Advanced Energy Industries (NASDAQ:AEIS) last released its earnings results 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 company had revenue of $374.20 million during 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 company’s revenue was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 EPS. On average, analysts expect that Advanced Energy Industries, Inc. will post 2.52 EPS for the current fiscal year.

Advanced Energy Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Monday, November 25th were given a $0.10 dividend. The ex-dividend date was Monday, November 25th. This represents a $0.40 annualized dividend and a dividend yield of 0.34%. Advanced Energy Industries’s payout ratio is 35.09%.

Insider Transactions at Advanced Energy Industries

In other Advanced Energy Industries news, Director Lanesha Minnix sold 1,000 shares of Advanced Energy Industries stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $111.72, for a total value of $111,720.00. Following the completion of 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AEIS. StockNews.com raised shares of Advanced Energy Industries from a “sell” rating to a “hold” rating in a research report on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Advanced Energy Industries in a research report on Wednesday, November 20th. Wells Fargo & Company raised their target price on Advanced Energy Industries from $98.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Susquehanna decreased their price target on Advanced Energy Industries from $103.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, October 11th. Finally, Benchmark reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Advanced Energy Industries in a research report on Wednesday, November 20th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $117.43.

About Advanced Energy Industries

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.