Advanced Emissions Solutions, Inc. (NASDAQ:ADES) declared a quarterly dividend on Wednesday, August 9th, Wall Street Journal reports. Stockholders of record on Monday, August 21st will be paid a dividend of 0.25 per share by the industrial products company on Thursday, September 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.35%. The ex-dividend date is Thursday, August 17th.
Shares of Advanced Emissions Solutions (NASDAQ:ADES) traded up 0.31% during trading on Friday, hitting $9.66. 58,433 shares of the stock were exchanged. The stock’s 50 day moving average is $9.89 and its 200-day moving average is $9.89. The stock has a market cap of $200.88 million, a price-to-earnings ratio of 2.15 and a beta of 2.85. Advanced Emissions Solutions has a 12-month low of $6.82 and a 12-month high of $12.25.
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Advanced Emissions Solutions announced that its Board of Directors has authorized a share buyback program on Monday, May 8th that permits the company to repurchase $9.99 million in shares. This repurchase authorization permits the industrial products company to repurchase shares of its stock through a tender offer. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
In related news, Director Alan Bradley Gabbard sold 4,700 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $9.21, for a total transaction of $43,287.00. Following the completion of the transaction, the director now directly owns 41,638 shares in the company, valued at approximately $383,485.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.49% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System bought a new position in Advanced Emissions Solutions during the second quarter valued at approximately $343,000. The Manufacturers Life Insurance Company boosted its position in Advanced Emissions Solutions by 13,343.1% in the second quarter. The Manufacturers Life Insurance Company now owns 17,476 shares of the industrial products company’s stock valued at $160,000 after buying an additional 17,346 shares during the last quarter. Finally, State Street Corp boosted its position in Advanced Emissions Solutions by 1,604.4% in the second quarter. State Street Corp now owns 253,958 shares of the industrial products company’s stock valued at $2,327,000 after buying an additional 239,058 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.
A number of brokerages have recently weighed in on ADES. Zacks Investment Research cut shares of Advanced Emissions Solutions from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. HC Wainwright set a $18.00 price objective on shares of Advanced Emissions Solutions and gave the stock a “buy” rating in a research note on Wednesday, August 9th. ValuEngine cut shares of Advanced Emissions Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, TheStreet cut shares of Advanced Emissions Solutions from a “b-” rating to a “c+” rating in a research note on Monday, June 5th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Advanced Emissions Solutions currently has an average rating of “Buy” and a consensus price target of $16.00.
Advanced Emissions Solutions Company Profile
ADA-ES, Inc (ADA) develops, offers, and implements environmental technologies and provides equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations by enhancing existing air pollution control equipment. ADA’s wholly owned subsidiaries include Advanced Emissions Solutions, Inc, ADA Intellectual Property, LLC and ADA Environmental Solutions, LLC.
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