Smith Graham & Co. Investment Advisors LP cut its position in shares of Advanced Energy Industries Inc. (NASDAQ:AEIS) by 16.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 187,321 shares of the company’s stock after selling 37,940 shares during the period. Advanced Energy Industries comprises about 1.0% of Smith Graham & Co. Investment Advisors LP’s portfolio, making the stock its 20th largest position. Smith Graham & Co. Investment Advisors LP’s holdings in Advanced Energy Industries were worth $7,111,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Advanced Energy Industries by 30.1% in the first quarter. BlackRock Inc. now owns 3,104 shares of the company’s stock worth $109,000 after buying an additional 718 shares during the period. Glenmede Trust Co. NA acquired a new stake in Advanced Energy Industries during the first quarter worth $258,000. Aperio Group LLC acquired a new stake in Advanced Energy Industries during the first quarter worth $264,000. Adams Diversified Equity Fund Inc. acquired a new stake in Advanced Energy Industries during the second quarter worth $281,000. Finally, Bank of Montreal Can acquired a new stake in Advanced Energy Industries during the second quarter worth $299,000. Institutional investors own 96.15% of the company’s stock.
Advanced Energy Industries Inc. (NASDAQ:AEIS) traded up 2.67% on Tuesday, hitting $47.23. The company’s stock had a trading volume of 556,855 shares. The company has a market capitalization of $1.87 billion, a P/E ratio of 18.10 and a beta of 1.02. Advanced Energy Industries Inc. has a 1-year low of $24.25 and a 1-year high of $47.47. The company has a 50 day moving average price of $44.06 and a 200-day moving average price of $38.29.
Advanced Energy Industries (NASDAQ:AEIS) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Advanced Energy Industries had a net margin of 24.01% and a return on equity of 28.45%. The business had revenue of $118.80 million for the quarter, compared to analyst estimates of $111.52 million. During the same period in the prior year, the business posted $0.43 earnings per share. Advanced Energy Industries’s revenue was up 9.3% compared to the same quarter last year. On average, equities analysts forecast that Advanced Energy Industries Inc. will post $2.73 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on AEIS. Zacks Investment Research raised Advanced Energy Industries from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a report on Thursday, August 4th. Dougherty & Co lifted their price target on Advanced Energy Industries from $38.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Raymond James Financial Inc. cut Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a report on Thursday, July 14th. Finally, Citigroup Inc. cut Advanced Energy Industries to a “market perform” rating in a report on Thursday, July 14th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $40.20.
About Advanced Energy Industries
Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
Want to see what other hedge funds are holding AEIS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Advanced Energy Industries Inc. (NASDAQ:AEIS).
Receive News & Ratings for Advanced Energy Industries Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Energy Industries Inc. and related companies with MarketBeat.com's FREE daily email newsletter.