The Manufacturers Life Insurance Company Buys 118,328 Shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS)

The Manufacturers Life Insurance Company raised its stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 22.4% during the second quarter, HoldingsChannel.com reports. The fund owned 647,682 shares of the electronics maker’s stock after purchasing an additional 118,328 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Advanced Energy Industries were worth $70,442,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Earnest Partners LLC grew its position in shares of Advanced Energy Industries by 13.5% during the second 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. Bank of New York Mellon Corp boosted its stake in Advanced Energy Industries by 23.5% during the second quarter. Bank of New York Mellon Corp now owns 540,213 shares of the electronics maker’s stock valued at $58,754,000 after buying an additional 102,659 shares during the last quarter. Vanguard Group Inc. increased its stake in Advanced Energy Industries by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 4,543,395 shares of the electronics maker’s stock worth $463,335,000 after acquiring an additional 73,028 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in Advanced Energy Industries in the 2nd quarter worth approximately $6,873,000. Finally, Edgestream Partners L.P. purchased a new stake in shares of Advanced Energy Industries during the 1st quarter worth approximately $6,362,000. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Analyst Upgrades and Downgrades

AEIS has been the subject of a number of recent research reports. Benchmark reissued a “buy” rating and issued a $117.00 target price on shares of Advanced Energy Industries in a report on Wednesday, July 31st. Citigroup downgraded shares of Advanced Energy Industries from a “buy” rating to a “neutral” rating and set a $113.00 target price on the stock. in a report on Monday, July 15th. StockNews.com downgraded shares of Advanced Energy Industries from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Robert W. Baird started coverage on Advanced Energy Industries in a research note on Friday, September 20th. They set an “outperform” rating and a $128.00 price objective on the stock. Finally, Stifel Nicolaus started coverage on Advanced Energy Industries in a research note on Thursday, August 15th. They issued a “buy” rating and a $135.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Energy Industries has an average rating of “Hold” and a consensus price target of $114.89.

Advanced Energy Industries Price Performance

AEIS opened at $104.70 on Friday. The business has a fifty day moving average of $103.39 and a 200 day moving average of $103.28. The stock has a market cap of $3.92 billion, a P/E ratio of 38.49, a PEG ratio of 5.12 and a beta of 1.50. The company has a quick ratio of 4.22, a current ratio of 5.47 and a debt-to-equity ratio of 0.76. Advanced Energy Industries, Inc. has a 52-week low of $81.86 and a 52-week high of $119.75.

Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Tuesday, July 30th. The electronics maker reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14. Advanced Energy Industries had a net margin of 6.00% and a return on equity of 10.43%. The firm had revenue of $364.95 million for the quarter, compared to analysts’ expectations of $350.06 million. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Advanced Energy Industries, Inc. will post 2.47 EPS for the current year.

Advanced Energy Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, August 26th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Monday, August 26th. Advanced Energy Industries’s dividend payout ratio is presently 14.71%.

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.