On August 24, 2023, it was reported that the Bank of New York Mellon Corp has reduced its stake in Advanced Energy Industries, Inc. by 2.6% during the first quarter of the year. According to their recent filing with the Securities and Exchange Commission (SEC), the bank now owns 392,346 shares of Advanced Energy Industries’ stock after selling 10,664 shares. This amounts to approximately 1.05% of the company’s total worth, which is valued at $38,450,000.
In addition to this development, Advanced Energy Industries recently announced a quarterly dividend that will be paid on September 1st. Shareholders of record on August 21st will receive a dividend payout of $0.10 per share. This equates to an annualized dividend of $0.40 and a dividend yield of 0.35%. The ex-dividend date for this payment was August 18th.
Various research analysts have also provided their insights on Advanced Energy Industries’ performance. Raymond James raised their price objective for the company’s stock from $120.00 to $130.00 and gave it an “outperform” rating in their research report dated August 4th. Susquehanna increased their price target from $98.00 to $110.00 and gave the company a “neutral” rating in another research report published on the same day. On August 17th, StockNews.com initiated coverage on Advanced Energy Industries with a “hold” rating. KeyCorp elevated their price target from $125.00 to $130.00 and gave the company an “overweight” rating in a report released on July 18th.
Lastly, Benchmark raised their price target for Advanced Energy Industries from $112.00 to $135.00 and assigned it a “buy” rating in another research report dated August 4th.This follows suit with the average rating of “Moderate Buy” given to the company as well as the consensus target price of $121.57, based on data from Bloomberg.com.
Overall, Advanced Energy Industries has experienced a decrease in stake from Bank of New York Mellon Corp while also declaring its quarterly dividend. Furthermore, analysts have provided positive outlooks for the company’s stock performance with several issuing “buy” or “overweight” ratings.
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Growing Investor Interest and Financial Activities Shape Advanced Energy Industries’ Future
August 24, 2023 – Advanced Energy Industries, a leading electronics maker, has seen significant changes in its investor landscape recently. Notably, Dark Forest Capital Management LP and Point72 Middle East FZE have both entered new positions in the company during the fourth quarter of last year, valued at $25,000 and $29,000 respectively. This move indicates a growing interest in Advanced Energy Industries from various investors.
Additionally, Fifth Third Bancorp has increased its position in Advanced Energy Industries by an impressive 78.1% during the first quarter of this year. The banking company now owns 390 shares of the electronics maker’s stock worth $38,000 after acquiring an additional 171 shares. Similarly, Captrust Financial Advisors experienced a significant increase in their position, with a growth of 195.5% during the first quarter. They now own 1,501 shares worth $129,000 after acquiring an additional 993 shares.
These developments highlight the growing influence of hedge funds and other institutional investors on Advanced Energy Industries’ stock market performance. Currently, they own approximately 99.95% of the company’s stock.
In other news related to the company’s financial activities, Chief Financial Officer Paul R. Oldham has sold a total of 12,917 shares over the past quarter for a sum of $1,394,240. These transactions raised questions about Oldham’s confidence in Advanced Energy Industries’ future prospects as such significant divestments can be perceived as an indication that insiders may lack confidence in the company’s performance.
On another note, it is worth mentioning that Advanced Energy Industries recently announced a quarterly dividend payment scheduled for September 1st. Shareholders who were on record as of August 21st will receive approximately $0.10 per share as part of this dividend distribution plan.
Examining the company’s stock performance reveals that AEIS opened at $115.33 on Thursday. Over the past year, their stock has experienced a considerable fluctuation, with a low of $68.00 and a high of $126.38. Currently, the company holds a market capitalization of $4.34 billion with a price-to-earnings ratio of 24.70 and a beta of 1.56.
In light of these recent developments in Advanced Energy Industries’ investor base and financial activities, it will be interesting to observe how these changes affect the company’s future trajectory and stock performance in the coming months.
Disclaimer: The information provided here should not be considered as financial advice. Investors are encouraged to conduct thorough research and analysis before making any investment decisions based on this information.