First Mercantile Trust Co. trimmed its position in II-VI, Inc. (NASDAQ:IIVI) by 68.1% during the 3rd quarter, Holdings Channel reports. The firm owned 2,690 shares of the scientific and technical instruments company’s stock after selling 5,734 shares during the period. First Mercantile Trust Co.’s holdings in II-VI were worth $127,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in II-VI by 9.3% in the 2nd quarter. BlackRock Inc. now owns 8,651,418 shares of the scientific and technical instruments company’s stock valued at $375,905,000 after purchasing an additional 739,662 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in II-VI by 0.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,451,393 shares of the scientific and technical instruments company’s stock valued at $63,063,000 after purchasing an additional 13,409 shares during the last quarter. Fort Pitt Capital Group LLC boosted its holdings in II-VI by 3.4% in the 3rd quarter. Fort Pitt Capital Group LLC now owns 1,050,235 shares of the scientific and technical instruments company’s stock valued at $49,676,000 after purchasing an additional 34,245 shares during the last quarter. Macquarie Group Ltd. boosted its holdings in II-VI by 21.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,039,525 shares of the scientific and technical instruments company’s stock valued at $45,167,000 after purchasing an additional 183,189 shares during the last quarter. Finally, Robecosam AG boosted its holdings in II-VI by 11.5% in the 3rd quarter. Robecosam AG now owns 959,000 shares of the scientific and technical instruments company’s stock valued at $44,881,000 after purchasing an additional 98,900 shares during the last quarter. Institutional investors own 93.94% of the company’s stock.

In related news, Director Francis J. Kramer sold 910 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $50.00, for a total transaction of $45,500.00. Following the sale, the director now directly owns 225,790 shares of the company’s stock, valued at approximately $11,289,500. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David G. Wagner sold 4,833 shares of the company’s stock in a transaction that occurred on Tuesday, September 25th. The stock was sold at an average price of $49.00, for a total transaction of $236,817.00. Following the sale, the vice president now directly owns 65,211 shares in the company, valued at $3,195,339. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,019 shares of company stock worth $1,880,096. 4.00% of the stock is owned by insiders.

A number of equities research analysts have recently issued reports on the stock. ValuEngine downgraded shares of II-VI from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. DA Davidson assumed coverage on shares of II-VI in a research note on Tuesday, October 23rd. They issued a “buy” rating on the stock. Piper Jaffray Companies boosted their price target on shares of II-VI to $57.00 and gave the company an “overweight” rating in a research note on Tuesday, August 7th. B. Riley downgraded shares of II-VI from a “buy” rating to a “neutral” rating and set a $54.00 price target on the stock. in a research note on Tuesday, September 4th. Finally, Needham & Company LLC boosted their price target on shares of II-VI from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. II-VI currently has an average rating of “Hold” and a consensus target price of $50.92.

II-VI stock opened at $34.49 on Tuesday. The company has a market capitalization of $2.36 billion, a PE ratio of 21.97, a P/E/G ratio of 1.22 and a beta of 0.66. II-VI, Inc. has a 1 year low of $31.92 and a 1 year high of $53.08. The company has a current ratio of 3.63, a quick ratio of 2.45 and a debt-to-equity ratio of 0.50.

II-VI (NASDAQ:IIVI) last released its quarterly earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $314.40 million for the quarter, compared to the consensus estimate of $310.92 million. II-VI had a net margin of 7.68% and a return on equity of 10.89%. The business’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. On average, research analysts forecast that II-VI, Inc. will post 1.8 EPS for the current year.

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II-VI Company Profile

II-VI Incorporated develops, manufactures, and markets engineered materials, and optoelectronic components and devices worldwide. The company operates in three segments: II-VI Laser Solutions, II-VI Photonics, and II-VI Performance Products. The II-VI Laser Solutions segment offers optical and electro-optical components and materials primarily used in high-power CO2 lasers; fiber-delivered beam delivery systems, and processing tools and direct diode lasers for industrial lasers; direct diode laser modules, sub-systems, and systems; super-hard materials processing laser systems; and compound semiconductor epitaxial and gallium arsenide wafers.

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Institutional Ownership by Quarter for II-VI (NASDAQ:IIVI)

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