Dimensional Fund Advisors LP grew its stake in shares of II-VI, Inc. (NASDAQ:IIVI) by 0.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,748,796 shares of the scientific and technical instruments company’s stock after buying an additional 2,005 shares during the quarter. Dimensional Fund Advisors LP’s holdings in II-VI were worth $130,016,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American International Group Inc. raised its holdings in shares of II-VI by 2.9% in the 3rd quarter. American International Group Inc. now owns 48,180 shares of the scientific and technical instruments company’s stock worth $2,279,000 after acquiring an additional 1,352 shares during the last quarter. MetLife Investment Advisors LLC grew its position in II-VI by 5.2% in the 2nd quarter. MetLife Investment Advisors LLC now owns 28,216 shares of the scientific and technical instruments company’s stock worth $1,226,000 after purchasing an additional 1,392 shares in the last quarter. Texas Permanent School Fund grew its position in II-VI by 4.1% in the 3rd quarter. Texas Permanent School Fund now owns 36,992 shares of the scientific and technical instruments company’s stock worth $1,750,000 after purchasing an additional 1,469 shares in the last quarter. State of Alaska Department of Revenue grew its position in II-VI by 8.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 19,560 shares of the scientific and technical instruments company’s stock worth $925,000 after purchasing an additional 1,558 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its position in II-VI by 11.6% in the 2nd quarter. ClariVest Asset Management LLC now owns 15,400 shares of the scientific and technical instruments company’s stock worth $669,000 after purchasing an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 89.60% of the company’s stock.
In other II-VI news, VP David G. Wagner sold 4,833 shares of the stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $49.00, for a total value of $236,817.00. Following the sale, the vice president now directly owns 65,211 shares in the company, valued at approximately $3,195,339. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.00% of the stock is owned by corporate insiders.
II-VI stock opened at $34.97 on Friday. II-VI, Inc. has a twelve month low of $31.92 and a twelve month high of $53.08. The company has a market cap of $2.28 billion, a PE ratio of 21.23, a P/E/G ratio of 1.17 and a beta of 0.68. The company has a quick ratio of 2.45, a current ratio of 3.63 and a debt-to-equity ratio of 0.50.
II-VI (NASDAQ:IIVI) last released its earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.56. II-VI had a net margin of 7.68% and a return on equity of 10.89%. The firm had revenue of $314.40 million during the quarter, compared to the consensus estimate of $310.92 million. During the same period in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 20.2% compared to the same quarter last year. On average, equities analysts expect that II-VI, Inc. will post 1.8 EPS for the current fiscal year.
A number of brokerages have issued reports on IIVI. Zacks Investment Research downgraded shares of II-VI from a “hold” rating to a “sell” rating in a research report on Wednesday, October 31st. BidaskClub raised shares of II-VI from a “sell” rating to a “hold” rating in a research report on Thursday, August 23rd. Loop Capital reduced their price objective on shares of II-VI to $43.00 and set a “reduce” rating for the company in a research report on Tuesday, November 13th. Deutsche Bank started coverage on shares of II-VI in a research report on Monday, August 27th. They issued a “buy” rating and a $58.00 price objective for the company. Finally, ValuEngine raised shares of II-VI from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $50.92.
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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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