Channing Capital Management LLC Buys Shares of 630,746 Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Channing Capital Management LLC bought a new stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 630,746 shares of the electronics maker’s stock, valued at approximately $68,701,000. Advanced Energy Industries comprises 2.0% of Channing Capital Management LLC’s holdings, making the stock its 24th biggest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AEIS. Exchange Traded Concepts LLC acquired a new stake in Advanced Energy Industries in the third quarter valued at $48,000. Signaturefd LLC increased its position in shares of Advanced Energy Industries by 52.3% in the fourth quarter. Signaturefd LLC now owns 609 shares of the electronics maker’s stock valued at $66,000 after buying an additional 209 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Advanced Energy Industries in the third quarter valued at $85,000. Group One Trading L.P. increased its position in shares of Advanced Energy Industries by 26.0% in the third quarter. Group One Trading L.P. now owns 1,106 shares of the electronics maker’s stock valued at $114,000 after buying an additional 228 shares in the last quarter. Finally, Advisor Partners II LLC increased its position in shares of Advanced Energy Industries by 7.9% in the third quarter. Advisor Partners II LLC now owns 2,012 shares of the electronics maker’s stock valued at $207,000 after buying an additional 148 shares in the last quarter. Institutional investors and hedge funds own 99.67% of the company’s stock.

Advanced Energy Industries Price Performance

Advanced Energy Industries stock traded up $2.36 during midday trading on Friday, reaching $97.99. 259,377 shares of the company were exchanged, compared to its average volume of 190,477. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 36.03, a P/E/G ratio of 3.43 and a beta of 1.54. The firm’s 50-day simple moving average is $97.79 and its 200-day simple moving average is $99.14. Advanced Energy Industries, Inc. has a 1 year low of $81.86 and a 1 year high of $126.38. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.10 and a current ratio of 5.61.

Advanced Energy Industries (NASDAQ:AEIS) last posted its quarterly earnings results on Wednesday, May 1st. The electronics maker reported $0.58 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.09). The business had revenue of $327.50 million during the quarter, compared to analysts’ expectations of $351.74 million. Advanced Energy Industries had a net margin of 6.58% and a return on equity of 11.65%. The firm’s quarterly revenue was down 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 EPS. On average, analysts anticipate that Advanced Energy Industries, Inc. will post 2.88 EPS for the current year.

Advanced Energy Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, May 27th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date is Thursday, May 23rd. Advanced Energy Industries’s dividend payout ratio (DPR) is 14.71%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on AEIS shares. Susquehanna dropped their price target on Advanced Energy Industries from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC restated a “hold” rating on shares of Advanced Energy Industries in a research report on Thursday. Benchmark restated a “buy” rating and issued a $117.00 price target on shares of Advanced Energy Industries in a research report on Thursday. Wells Fargo & Company dropped their price target on Advanced Energy Industries from $108.00 to $97.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 7th. Finally, StockNews.com cut Advanced Energy Industries from a “hold” rating to a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $111.86.

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.