Olstein Capital Management L.P. Raises Stake in IPG Photonics Corp. (IPGP)
Olstein Capital Management L.P. boosted its stake in shares of IPG Photonics Corp. (NASDAQ:IPGP) by 5.1% during the third quarter, Holdings Channel reports. The firm owned 93,315 shares of the company’s stock after buying an additional 4,520 shares during the period. Olstein Capital Management L.P.’s holdings in IPG Photonics Corp. were worth $7,684,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. Handelsbanken Fonder AB increased its stake in IPG Photonics Corp. by 2.2% in the second quarter. Handelsbanken Fonder AB now owns 187,800 shares of the company’s stock worth $15,024,000 after buying an additional 4,000 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in IPG Photonics Corp. by 6.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,300 shares of the company’s stock worth $264,000 after buying an additional 200 shares during the last quarter. Shaker Investments LLC OH increased its stake in IPG Photonics Corp. by 39.8% in the second quarter. Shaker Investments LLC OH now owns 19,322 shares of the company’s stock worth $1,546,000 after buying an additional 5,500 shares during the last quarter. Capital Analysts LLC increased its stake in IPG Photonics Corp. by 22,231.7% in the second quarter. Capital Analysts LLC now owns 113,445 shares of the company’s stock worth $9,609,000 after buying an additional 112,937 shares during the last quarter. Finally, Capstone Asset Management Co. increased its stake in IPG Photonics Corp. by 14.6% in the second quarter. Capstone Asset Management Co. now owns 4,630 shares of the company’s stock worth $370,000 after buying an additional 590 shares during the last quarter. Institutional investors and hedge funds own 60.03% of the company’s stock.
IPG Photonics Corp. (NASDAQ:IPGP) traded down 0.25% on Tuesday, reaching $97.03. 109,371 shares of the company were exchanged. The stock has a 50 day moving average of $91.13 and a 200 day moving average of $85.54. The firm has a market capitalization of $5.15 billion, a PE ratio of 21.19 and a beta of 2.07. IPG Photonics Corp. has a 12-month low of $73.55 and a 12-month high of $102.90.
IPG Photonics Corp. (NASDAQ:IPGP) last announced its quarterly earnings results on Thursday, October 27th. The company reported $1.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.06. IPG Photonics Corp. had a net margin of 25.83% and a return on equity of 17.73%. The firm had revenue of $266 million for the quarter, compared to analyst estimates of $255.27 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The business’s revenue was up 9.2% on a year-over-year basis. Equities analysts anticipate that IPG Photonics Corp. will post $4.71 EPS for the current year.
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IPGP has been the topic of several analyst reports. Zacks Investment Research lowered shares of IPG Photonics Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 15th. restated an “outperform” rating and set a $92.00 price target on shares of IPG Photonics Corp. in a research note on Tuesday, September 13th. Needham & Company LLC restated a “buy” rating and set a $96.00 price target (down previously from $98.00) on shares of IPG Photonics Corp. in a research note on Monday, August 1st. Finally, Canaccord Genuity set a $100.00 price target on shares of IPG Photonics Corp. and gave the stock a “buy” rating in a research note on Thursday, August 11th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. IPG Photonics Corp. presently has a consensus rating of “Buy” and an average target price of $96.43.
In other news, SVP Angelo P. Lopresti sold 1,911 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $96.31, for a total value of $184,048.41. Following the sale, the senior vice president now owns 47,282 shares of the company’s stock, valued at $4,553,729.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Angelo P. Lopresti sold 5,589 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $96.30, for a total transaction of $538,220.70. Following the completion of the sale, the senior vice president now directly owns 41,693 shares in the company, valued at approximately $4,015,035.90. The disclosure for this sale can be found here. 34.20% of the stock is currently owned by company insiders.
About IPG Photonics Corp.
IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.
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