Vestcor Inc Takes $255,000 Position in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Vestcor Inc acquired a new position in Advanced Energy Industries, Inc. (NASDAQ:AEIS - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,675 shares of the electronics maker's stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AEIS. The Manufacturers Life Insurance Company lifted its stake in shares of Advanced Energy Industries by 21.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 774,586 shares of the electronics maker's stock valued at $89,565,000 after acquiring an additional 138,814 shares during the last quarter. Summit Partners Public Asset Management LLC bought a new position in Advanced Energy Industries during the 4th quarter valued at approximately $71,494,000. Silvercrest Asset Management Group LLC bought a new position in Advanced Energy Industries during the 4th quarter valued at approximately $58,393,000. Principal Financial Group Inc. raised its position in Advanced Energy Industries by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 477,296 shares of the electronics maker's stock valued at $45,491,000 after purchasing an additional 1,624 shares during the last quarter. Finally, Northern Trust Corp raised its position in Advanced Energy Industries by 13.3% during the 4th quarter. Northern Trust Corp now owns 457,759 shares of the electronics maker's stock valued at $52,931,000 after purchasing an additional 53,692 shares during the last quarter. 99.67% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Energy Industries Stock Down 0.7%

Shares of Advanced Energy Industries stock traded down $0.98 during midday trading on Tuesday, hitting $139.58. The company had a trading volume of 676,454 shares, compared to its average volume of 345,672. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.28 and a current ratio of 4.43. The stock has a market capitalization of $5.26 billion, a P/E ratio of 71.95, a P/E/G ratio of 1.29 and a beta of 1.52. The company has a 50 day moving average of $132.92 and a 200 day moving average of $116.41. Advanced Energy Industries, Inc. has a 52-week low of $75.01 and a 52-week high of $145.52.

Advanced Energy Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 25th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, August 25th. Advanced Energy Industries's dividend payout ratio (DPR) is currently 20.62%.

Insider Buying and Selling at Advanced Energy Industries

In other Advanced Energy Industries news, EVP John Donaghey sold 2,000 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $140.00, for a total transaction of $280,000.00. Following the sale, the executive vice president directly owned 11,029 shares in the company, valued at approximately $1,544,060. This trade represents a 15.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Paul R. Oldham sold 1,173 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $131.29, for a total value of $154,003.17. Following the sale, the executive vice president owned 31,006 shares in the company, valued at approximately $4,070,777.74. This represents a 3.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company's stock.

Wall Street Analyst Weigh In

AEIS has been the subject of a number of recent analyst reports. Robert W. Baird upped their price target on Advanced Energy Industries from $124.00 to $132.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Citigroup upped their target price on Advanced Energy Industries from $138.00 to $140.00 and gave the stock a "buy" rating in a report on Monday, May 5th. KeyCorp upped their target price on Advanced Energy Industries from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded Advanced Energy Industries from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. Finally, Wells Fargo & Company upped their target price on Advanced Energy Industries from $110.00 to $130.00 and gave the stock an "equal weight" rating in a report on Friday, June 27th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $132.20.

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.