Renaissance Technologies LLC cut its stake in shares of Advanced Emissions Solutions, Inc. (NASDAQ:ADES) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,600 shares of the industrial products company’s stock after selling 2,800 shares during the period. Renaissance Technologies LLC’s holdings in Advanced Emissions Solutions were worth $578,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in shares of Advanced Emissions Solutions by 40.4% in the first quarter. Bank of New York Mellon Corp now owns 16,543 shares of the industrial products company’s stock valued at $158,000 after buying an additional 4,757 shares during the last quarter. Segantii Capital Management Ltd purchased a new stake in shares of Advanced Emissions Solutions during the first quarter valued at $275,000. AXA purchased a new stake in shares of Advanced Emissions Solutions during the first quarter valued at $529,000. Geode Capital Management LLC increased its stake in shares of Advanced Emissions Solutions by 68.6% in the first quarter. Geode Capital Management LLC now owns 157,441 shares of the industrial products company’s stock valued at $1,501,000 after buying an additional 64,039 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Advanced Emissions Solutions by 21.5% in the first quarter. Wellington Management Group LLP now owns 489,593 shares of the industrial products company’s stock valued at $4,670,000 after buying an additional 86,476 shares during the last quarter. 68.76% of the stock is currently owned by institutional investors and hedge funds.

Advanced Emissions Solutions, Inc. (ADES) traded down 1.32% during mid-day trading on Thursday, reaching $10.44. 26,787 shares of the company were exchanged. The company’s 50 day moving average price is $9.99 and its 200-day moving average price is $9.89. Advanced Emissions Solutions, Inc. has a 12 month low of $6.95 and a 12 month high of $12.25. The stock has a market capitalization of $217.10 million, a P/E ratio of 2.33 and a beta of 2.85.

Advanced Emissions Solutions declared that its board has initiated a share buyback plan on Monday, May 8th that allows the company to repurchase $9.99 million in shares. This repurchase authorization allows the industrial products company to purchase shares of its stock through a tender offer. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Monday, August 21st will be issued a $0.25 dividend. The ex-dividend date is Thursday, August 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.45%. Advanced Emissions Solutions’s dividend payout ratio is 22.22%.

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Several analysts have recently weighed in on the stock. TheStreet downgraded shares of Advanced Emissions Solutions from a “b-” rating to a “c+” rating in a report on Monday, June 5th. HC Wainwright set a $18.00 price objective on shares of Advanced Emissions Solutions and gave the stock a “buy” rating in a report on Wednesday, August 9th. Zacks Investment Research raised shares of Advanced Emissions Solutions from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, ValuEngine downgraded shares of Advanced Emissions Solutions from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $16.00.

In related news, Director Alan Bradley Gabbard sold 4,700 shares of Advanced Emissions Solutions stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $9.21, for a total value of $43,287.00. Following the completion of the transaction, the director now directly owns 41,638 shares of the company’s stock, valued at $383,485.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.49% of the company’s stock.

About Advanced Emissions Solutions

ADA-ES, Inc (ADA) develops, offers, and implements environmental technologies and provides equipment and specialty chemicals that enable coal-fueled power plants to meet emissions regulations by enhancing existing air pollution control equipment. ADA’s wholly owned subsidiaries include Advanced Emissions Solutions, Inc, ADA Intellectual Property, LLC and ADA Environmental Solutions, LLC.

Institutional Ownership by Quarter for Advanced Emissions Solutions (NASDAQ:ADES)

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