Citigroup Inc. lessened its holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS – Free Report) by 51.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 16,927 shares of the electronics maker’s stock after selling 17,841 shares during the quarter. Citigroup Inc.’s holdings in Advanced Energy Industries were worth $1,746,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Point72 Middle East FZE purchased a new stake in Advanced Energy Industries in the 4th quarter worth $29,000. Exchange Traded Concepts LLC purchased a new position in shares of Advanced Energy Industries during the third quarter valued at about $48,000. Tower Research Capital LLC TRC grew its position in shares of Advanced Energy Industries by 193.5% during the first quarter. Tower Research Capital LLC TRC now owns 499 shares of the electronics maker’s stock valued at $49,000 after purchasing an additional 329 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Advanced Energy Industries during the first quarter valued at about $49,000. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Advanced Energy Industries during the fourth quarter valued at about $90,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.
Insiders Place Their Bets
In other Advanced Energy Industries news, Director Ronald C. Foster sold 618 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $105.00, for a total value of $64,890.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Ronald C. Foster sold 618 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $105.00, for a total value of $64,890.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald C. Foster sold 1,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the director now owns 618 shares in the company, valued at $58,710. The disclosure for this sale can be found here. Insiders sold a total of 1,914 shares of company stock valued at $191,339 over the last 90 days. Insiders own 2.00% of the company’s stock.
Advanced Energy Industries Stock Down 0.4 %
Shares of NASDAQ AEIS opened at $99.39 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 5.10 and a quick ratio of 4.10. The company has a market cap of $3.71 billion, a P/E ratio of 29.23, a PEG ratio of 3.01 and a beta of 1.58. Advanced Energy Industries, Inc. has a 1 year low of $81.86 and a 1 year high of $126.38. The firm has a 50-day simple moving average of $105.01 and a two-hundred day simple moving average of $102.24.
Advanced Energy Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Monday, February 19th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.40%. The ex-dividend date is Thursday, February 15th. Advanced Energy Industries’s payout ratio is currently 11.76%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. TheStreet upgraded Advanced Energy Industries from a “c+” rating to a “b-” rating in a research report on Thursday, December 21st. Seaport Res Ptn restated a “neutral” rating on shares of Advanced Energy Industries in a research report on Wednesday, December 6th. Bank of America started coverage on Advanced Energy Industries in a research report on Thursday, November 30th. They set a “neutral” rating and a $105.00 price objective for the company. Raymond James dropped their price target on Advanced Energy Industries from $130.00 to $110.00 and set an “outperform” rating for the company in a research report on Wednesday, November 1st. Finally, Wells Fargo & Company dropped their price target on Advanced Energy Industries from $108.00 to $97.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $115.14.
Read Our Latest Stock Report on Advanced Energy Industries
Advanced Energy Industries Company Profile
Advanced Energy Industries, Inc designs, manufactures, sells, and supports precision power conversion, measurement, and control solutions worldwide. It offers plasma power solutions, including direct current (DC), pulsed DC, low frequency alternating current, and high voltage systems, as well as radio frequency (RF) power supplies, RF matching networks, and RF instrumentation products; and remote plasma sources for reactive gas applications.
Further Reading
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Source: americanbankingnews.com
