Southernsun Asset Management LLC Acquires Shares of 33,971 Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Southernsun Asset Management LLC acquired a new position in Advanced Energy Industries, Inc. (NASDAQ:AEIS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 33,971 shares of the electronics maker’s stock, valued at approximately $3,575,000. Advanced Energy Industries accounts for about 0.4% of Southernsun Asset Management LLC’s portfolio, making the stock its 29th largest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in AEIS. Stifel Financial Corp increased its stake in shares of Advanced Energy Industries by 1.0% in the 3rd quarter. Stifel Financial Corp now owns 10,752 shares of the electronics maker’s stock worth $1,132,000 after acquiring an additional 102 shares during the last quarter. Azzad Asset Management Inc. ADV grew its position in Advanced Energy Industries by 1.7% in the second quarter. Azzad Asset Management Inc. ADV now owns 7,322 shares of the electronics maker’s stock worth $796,000 after acquiring an additional 124 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Advanced Energy Industries by 5.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 2,496 shares of the electronics maker’s stock worth $263,000 after acquiring an additional 130 shares during the last quarter. Meeder Asset Management Inc. raised its position in Advanced Energy Industries by 68.4% in the third quarter. Meeder Asset Management Inc. now owns 458 shares of the electronics maker’s stock valued at $48,000 after purchasing an additional 186 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Advanced Energy Industries by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,449 shares of the electronics maker’s stock worth $1,136,000 after purchasing an additional 203 shares during the period. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Advanced Energy Industries news, Director Lanesha Minnix sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $111.72, for a total transaction of $111,720.00. Following the completion of the sale, the director now owns 5,092 shares of the company’s stock, valued at approximately $568,878.24. This represents a 16.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. TD Cowen dropped their price objective on shares of Advanced Energy Industries from $120.00 to $118.00 and set a “hold” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company lowered their price target on Advanced Energy Industries from $103.00 to $98.00 and set an “equal weight” rating on the stock in a report on Thursday, October 3rd. Stifel Nicolaus started coverage on Advanced Energy Industries in a report on Thursday, August 15th. They set a “buy” rating and a $135.00 price objective for the company. Benchmark reiterated a “buy” rating and set a $125.00 target price on shares of Advanced Energy Industries in a research report on Wednesday, November 20th. Finally, Baird R W raised shares of Advanced Energy Industries to a “strong-buy” rating in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $115.00.

Advanced Energy Industries Stock Performance

Advanced Energy Industries stock opened at $114.70 on Friday. Advanced Energy Industries, Inc. has a 12-month low of $89.11 and a 12-month high of $120.81. 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 stock has a 50-day simple moving average of $110.53 and a 200 day simple moving average of $107.56. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 100.61, a P/E/G ratio of 6.93 and a beta of 1.47.

Advanced Energy Industries (NASDAQ:AEIS) last announced its earnings results on Wednesday, October 30th. The electronics maker reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.07. The firm had revenue of $374.20 million during the quarter, compared to analyst estimates 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 for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. On average, research analysts anticipate that Advanced Energy Industries, Inc. will post 2.52 earnings per share for the current fiscal year.

Advanced Energy Industries Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, November 25th. This represents a $0.40 dividend on an annualized basis and a yield of 0.35%. Advanced Energy Industries’s dividend payout ratio (DPR) is presently 35.09%.

Advanced Energy Industries 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.