Strs Ohio raised its stake in shares of II-VI Inc. (NASDAQ:IIVI) by 8.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 45,200 shares of the company’s stock after buying an additional 3,500 shares during the period. Strs Ohio’s holdings in II-VI were worth $847,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in IIVI. Aperio Group LLC boosted its stake in shares of II-VI by 0.6% in the first quarter. Aperio Group LLC now owns 17,335 shares of the company’s stock valued at $376,000 after buying an additional 101 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of II-VI by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 23,500 shares of the company’s stock valued at $441,000 after buying an additional 200 shares in the last quarter. Ngam Advisors L.P. boosted its stake in shares of II-VI by 5.6% in the first quarter. Ngam Advisors L.P. now owns 40,305 shares of the company’s stock valued at $875,000 after buying an additional 2,121 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of II-VI by 14.1% in the second quarter. Capstone Asset Management Co. now owns 23,969 shares of the company’s stock valued at $450,000 after buying an additional 2,960 shares in the last quarter. Finally, Zebra Capital Management LLC boosted its stake in shares of II-VI by 20.9% in the first quarter. Zebra Capital Management LLC now owns 27,960 shares of the company’s stock valued at $607,000 after buying an additional 4,829 shares in the last quarter. Hedge funds and other institutional investors own 72.74% of the company’s stock.
Shares of II-VI Inc. (NASDAQ:IIVI) traded up 0.39% during trading on Tuesday, hitting $25.75. 203,388 shares of the stock were exchanged. The stock’s 50 day moving average price is $23.48 and its 200-day moving average price is $21.18. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 24.76 and a beta of 0.42. II-VI Inc. has a one year low of $16.09 and a one year high of $26.05.
II-VI (NASDAQ:IIVI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.16. The firm had revenue of $241.40 million for the quarter, compared to analyst estimates of $214.13 million. II-VI had a net margin of 7.92% and a return on equity of 10.93%. II-VI’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.27 earnings per share. On average, analysts predict that II-VI Inc. will post $1.04 EPS for the current year.
IIVI has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of II-VI from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Wednesday, June 22nd. Benchmark Co. reduced their price objective on shares of II-VI from $25.00 to $23.50 and set a “buy” rating on the stock in a research report on Tuesday, August 2nd. B. Riley reissued a “neutral” rating and issued a $22.00 price objective on shares of II-VI in a research report on Wednesday, August 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective on shares of II-VI in a research report on Wednesday, August 3rd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.38.
In other II-VI news, Director Howard H. Xia purchased 3,696 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 30,996 shares of the company’s stock, valued at approximately $671,683.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Wendy F. Dicicco sold 4,000 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was 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. Corporate insiders own 6.80% of the company’s stock.
II-VI Company Profile
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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