Fifth Third Bancorp Grows Stock Holdings in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Fifth Third Bancorp increased its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 71.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 559 shares of the electronics maker’s stock after buying an additional 233 shares during the period. Fifth Third Bancorp’s holdings in Advanced Energy Industries were worth $53,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. boosted its stake in shares of Advanced Energy Industries by 61.6% during the 4th quarter. Russell Investments Group Ltd. now owns 354 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 135 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Advanced Energy Industries during the fourth quarter worth $47,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Advanced Energy Industries during the fourth quarter worth $51,000. Venturi Wealth Management LLC purchased a new stake in Advanced Energy Industries during the fourth quarter worth $74,000. Finally, Principal Securities Inc. boosted its position in shares of Advanced Energy Industries by 16.1% in the 4th quarter. Principal Securities Inc. now owns 989 shares of the electronics maker’s stock worth $114,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 99.67% of the company’s stock.

Advanced Energy Industries Trading Down 0.3%

Shares of Advanced Energy Industries stock opened at $128.63 on Friday. The business’s fifty day moving average is $111.56 and its two-hundred day moving average is $111.77. Advanced Energy Industries, Inc. has a fifty-two week low of $75.01 and a fifty-two week high of $132.16. The firm has a market cap of $4.84 billion, a PE ratio of 66.30, a P/E/G ratio of 1.18 and a beta of 1.50. The company has a quick ratio of 3.28, a current ratio of 4.43 and a debt-to-equity ratio of 0.46.

Advanced Energy Industries (NASDAQ:AEIS) last released its earnings results on Wednesday, April 30th. The electronics maker reported $1.23 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.26. The firm had revenue of $404.60 million for the quarter, compared to the consensus estimate of $392.36 million. Advanced Energy Industries had a return on equity of 10.70% and a net margin of 4.73%. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 earnings per share. Analysts anticipate that Advanced Energy Industries, Inc. will post 3.66 earnings per share for the current year.

Advanced Energy Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Monday, May 26th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Friday, May 23rd. Advanced Energy Industries’s dividend payout ratio is currently 20.62%.

Analyst Upgrades and Downgrades

Several research firms recently commented on AEIS. Stifel Nicolaus reiterated a “buy” rating and issued a $130.00 price objective (down from $135.00) on shares of Advanced Energy Industries in a research report on Thursday, May 1st. Citigroup upped their price target on shares of Advanced Energy Industries from $138.00 to $140.00 and gave the company a “buy” rating in a report on Monday, May 5th. Wall Street Zen raised shares of Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Robert W. Baird upped their target price on Advanced Energy Industries from $124.00 to $132.00 and gave the company an “outperform” rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reduced their target price on Advanced Energy Industries from $145.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.67.

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.