Lord Abbett & CO. LLC Has $42.48 Million Holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Lord Abbett & CO. LLC grew its holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 6.2% in the third quarter, Holdings Channel.com reports. The firm owned 403,679 shares of the electronics maker’s stock after purchasing an additional 23,395 shares during the period. Lord Abbett & CO. LLC’s holdings in Advanced Energy Industries were worth $42,483,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Huntington National Bank increased its holdings in Advanced Energy Industries by 200.0% in the third quarter. Huntington National Bank now owns 312 shares of the electronics maker’s stock worth $33,000 after buying an additional 208 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Advanced Energy Industries in the 3rd quarter valued at $41,000. Meeder Asset Management Inc. increased its position in Advanced Energy Industries by 68.4% during the third quarter. Meeder Asset Management Inc. now owns 458 shares of the electronics maker’s stock worth $48,000 after buying an additional 186 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in Advanced Energy Industries during the second quarter valued at about $87,000. Finally, Blue Trust Inc. lifted its position in shares of Advanced Energy Industries by 2,150.0% in the third quarter. Blue Trust Inc. now owns 810 shares of the electronics maker’s stock worth $88,000 after buying an additional 774 shares during the last quarter. 99.67% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Lanesha Minnix sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $111.72, for a total value of $111,720.00. Following the sale, the director now directly owns 5,092 shares in the company, 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 is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AEIS shares. Wells Fargo & Company increased their price objective on Advanced Energy Industries from $98.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, December 6th. Robert W. Baird increased their price target on Advanced Energy Industries from $124.00 to $134.00 and gave the company an “outperform” rating in a report on Wednesday. TD Cowen reduced their price objective on shares of Advanced Energy Industries from $120.00 to $118.00 and set a “hold” rating for the company in a research note on Thursday, October 31st. StockNews.com raised shares of Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, Susquehanna dropped their target price on shares of Advanced Energy Industries from $103.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Six 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 stock. According to MarketBeat, Advanced Energy Industries presently has an average rating of “Moderate Buy” and an average price target of $117.43.

Advanced Energy Industries Stock Performance

NASDAQ:AEIS opened at $117.22 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 3.32 and a current ratio of 4.62. The firm’s 50-day moving average is $112.38 and its 200-day moving average is $107.98. Advanced Energy Industries, Inc. has a 52-week low of $89.11 and a 52-week high of $120.81. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 102.82, a PEG ratio of 6.92 and a beta of 1.47.

Advanced Energy Industries (NASDAQ:AEIS) last issued its quarterly earnings results on Wednesday, October 30th. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.07. Advanced Energy Industries had a return on equity of 9.02% and a net margin of 2.91%. The firm had revenue of $374.20 million for the quarter, compared to analyst estimates of $372.49 million. During the same period in the previous year, the company posted $1.12 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. Equities research analysts anticipate that Advanced Energy Industries, Inc. will post 2.52 earnings per share for the current year.

Advanced Energy Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 25th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $0.40 annualized dividend and a yield of 0.34%. Advanced Energy Industries’s dividend payout ratio (DPR) is currently 35.09%.

About Advanced Energy Industries

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.