II-VI Inc. (IIVI) Position Increased by Algert Global LLC
Algert Global LLC boosted its position in II-VI Inc. (NASDAQ:IIVI) by 56.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,782 shares of the company’s stock after buying an additional 26,041 shares during the period. Algert Global LLC’s holdings in II-VI were worth $1,746,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the company. Loomis Sayles & Co. L P raised its stake in shares of II-VI by 116,300.5% in the second quarter. Loomis Sayles & Co. L P now owns 494,702 shares of the company’s stock worth $9,281,000 after buying an additional 494,277 shares in the last quarter. First Republic Investment Management Inc. raised its stake 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 in the last quarter. Hillcrest Asset Management LLC bought a new stake in shares of II-VI during the first quarter worth $9,743,000. Renaissance Technologies LLC raised its stake 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of II-VI by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,226,831 shares of the company’s stock worth $60,534,000 after buying an additional 367,967 shares in the last quarter. Institutional investors own 72.71% of the company’s stock.
Shares of II-VI Inc. (NASDAQ:IIVI) opened at 25.60 on Thursday. The firm’s 50-day moving average is $23.00 and its 200-day moving average is $21.06. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 24.62 and a beta of 0.42. II-VI Inc. has a 52 week low of $16.09 and a 52 week high of $25.90.
II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.16. II-VI had a net margin of 7.92% and a return on equity of 10.93%. The firm had revenue of $241.40 million for the quarter, compared to the consensus estimate of $214.13 million. During the same period last year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts forecast that II-VI Inc. will post $1.04 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on IIVI shares. Zacks Investment Research upgraded shares of II-VI from a “sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Needham & Company LLC reiterated a “buy” rating and set a $26.00 target price on shares of II-VI in a research note on Wednesday, August 3rd. Benchmark Co. decreased their target price on shares of II-VI from $25.00 to $23.50 and set a “buy” rating for the company in a research note on Tuesday, August 2nd. Finally, B. Riley reiterated a “neutral” rating and set a $22.00 target price on shares of II-VI in a research note on Wednesday, August 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $23.38.
In other II-VI news, Director Howard H. Xia acquired 3,696 shares of the company’s stock in a transaction dated Saturday, August 20th. The shares were purchased at an average cost of $21.67 per share, for a total transaction of $80,092.32. Following the completion of the purchase, the director now owns 30,996 shares in the company, valued at $671,683.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wendy F. Dicicco sold 4,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $22.30, for a total transaction of $89,200.00. Following the transaction, the director now owns 38,946 shares in the company, valued at $868,495.80. 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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