II-VI Inc. (IIVI) Shares Sold by New York State Teachers Retirement System
New York State Teachers Retirement System cut its position in shares of II-VI Inc. (NASDAQ:IIVI) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 184,668 shares of the company’s stock after selling 100 shares during the period. New York State Teachers Retirement System’s holdings in II-VI were worth $3,464,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. boosted its stake in II-VI by 9.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,447,191 shares of the company’s stock worth $31,419,000 after buying an additional 126,786 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of II-VI by 83.3% in the first quarter. Renaissance Technologies LLC now owns 860,910 shares of the company’s stock worth $18,690,000 after buying an additional 391,132 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of II-VI by 11.6% in the first quarter. Teachers Advisors Inc. now owns 619,254 shares of the company’s stock worth $13,444,000 after buying an additional 64,248 shares during the last quarter. First Republic Investment Management Inc. raised its position in shares of II-VI by 1,512.3% in the first quarter. First Republic Investment Management Inc. now owns 525,620 shares of the company’s stock worth $11,411,000 after buying an additional 493,020 shares during the last quarter. Finally, Hillcrest Asset Management LLC purchased a new position in shares of II-VI during the first quarter worth $9,743,000. 72.71% of the stock is currently owned by hedge funds and other institutional investors.
II-VI Inc. (NASDAQ:IIVI) traded up 0.39% on Monday, hitting $25.80. The stock had a trading volume of 192,062 shares. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 24.81 and a beta of 0.42. II-VI Inc. has a one year low of $16.09 and a one year high of $25.90. The stock’s 50 day moving average is $22.66 and its 200 day moving average is $20.96.
II-VI (NASDAQ:IIVI) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.16. II-VI had a return on equity of 10.93% and a net margin of 7.92%. The business earned $241.40 million during the quarter, compared to analysts’ expectations of $214.13 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. The company’s quarterly revenue was up 17.8% compared to the same quarter last year. Analysts anticipate that II-VI Inc. will post $1.04 earnings per share for the current year.
IIVI has been the topic of a number of research reports. Benchmark Co. decreased their price objective on II-VI from $25.00 to $23.50 and set a “buy” rating on the stock in a report on Tuesday, August 2nd. B. Riley restated a “neutral” rating and issued a $22.00 price objective on shares of II-VI in a report on Tuesday, August 9th. Needham & Company LLC restated a “buy” rating and issued a $26.00 price objective on shares of II-VI in a report on Monday, June 13th. Finally, Zacks Investment Research upgraded II-VI from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, June 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $23.38.
In other news, Director Wendy F. Dicicco sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $22.30, for a total transaction of $89,200.00. Following the completion of the sale, the director now owns 38,946 shares in the company, valued at $868,495.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas E. Mistler sold 4,310 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $21.55, for a total value of $92,880.50. Following the sale, the director now owns 22,346 shares of the company’s stock, valued at approximately $481,556.30. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.
II-VI Incorporated develops, manufactures and markets engineered materials and opto-electronic components and products for precision use in industrial, optical communications, military, semiconductor, medical and life science, and consumer applications. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products.
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