Bank of New York Mellon Corp trimmed its stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 519,383 shares of the electronics maker’s stock after selling 8,063 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.31% of Advanced Energy Industries worth $41,945,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Advanced Energy Industries by 4.1% in the second quarter. State Street Corp now owns 1,019,290 shares of the electronics maker’s stock worth $65,937,000 after acquiring an additional 40,286 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Advanced Energy Industries in the second quarter worth $6,245,000. Laurion Capital Management LP acquired a new position in Advanced Energy Industries in the second quarter valued at $2,803,000. ARP Americas LLC acquired a new position in Advanced Energy Industries in the third quarter valued at $300,000. Finally, Gotham Asset Management LLC increased its stake in Advanced Energy Industries by 820.4% in the second quarter. Gotham Asset Management LLC now owns 136,617 shares of the electronics maker’s stock valued at $8,838,000 after purchasing an additional 121,774 shares during the last quarter. 92.99% of the stock is owned by institutional investors.
In other Advanced Energy Industries news, Director Frederick Ball sold 4,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $83.51, for a total transaction of $334,040.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yuval Wasserman sold 11,744 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $75.09, for a total value of $881,856.96. Following the sale, the chief executive officer now directly owns 127,396 shares of the company’s stock, valued at approximately $9,566,165.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,603 shares of company stock valued at $5,750,808. 1.13% of the stock is owned by company insiders.
Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Monday, October 30th. The electronics maker reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.02. Advanced Energy Industries had a return on equity of 35.56% and a net margin of 33.76%. The firm had revenue of $176.60 million during the quarter, compared to the consensus estimate of $165.77 million. During the same quarter in the previous year, the business earned $0.77 earnings per share. The firm’s quarterly revenue was up 39.5% compared to the same quarter last year. research analysts expect that Advanced Energy Industries, Inc. will post 4.26 EPS for the current fiscal year.
Several equities analysts recently commented on AEIS shares. Stifel Nicolaus started coverage on Advanced Energy Industries in a research note on Wednesday, August 23rd. They issued a “hold” rating and a $74.00 target price for the company. Zacks Investment Research lowered Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Needham & Company LLC reiterated a “buy” rating on shares of Advanced Energy Industries in a research note on Friday, October 13th. KeyCorp reiterated a “hold” rating on shares of Advanced Energy Industries in a research note on Sunday, October 15th. Finally, ValuEngine lowered Advanced Energy Industries from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $81.60.
About Advanced Energy Industries
Advanced Energy Industries, Inc is a provider of engineered, precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions that transform power into various forms in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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