II-VI, Inc. (IIVI) Shares Bought by Legal & General Group Plc

Share on StockTwits

Legal & General Group Plc grew its position in shares of II-VI, Inc. (NASDAQ:IIVI) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,865 shares of the scientific and technical instruments company’s stock after buying an additional 3,446 shares during the period. Legal & General Group Plc owned approximately 0.19% of II-VI worth $5,257,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. boosted its stake in shares of II-VI by 6.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 380,920 shares of the scientific and technical instruments company’s stock valued at $16,551,000 after purchasing an additional 22,007 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of II-VI by 6.6% during the first quarter. Russell Investments Group Ltd. now owns 19,129 shares of the scientific and technical instruments company’s stock valued at $782,000 after purchasing an additional 1,185 shares in the last quarter. Private Advisor Group LLC acquired a new stake in shares of II-VI during the second quarter valued at about $455,000. HGK Asset Management Inc. boosted its stake in shares of II-VI by 15.9% during the second quarter. HGK Asset Management Inc. now owns 16,148 shares of the scientific and technical instruments company’s stock valued at $702,000 after purchasing an additional 2,220 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of II-VI by 0.9% during the second 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 in the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.

Shares of NASDAQ IIVI traded up $0.54 during midday trading on Friday, hitting $38.08. 574,749 shares of the stock traded hands, compared to its average volume of 712,473. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 1.43 and a beta of 0.23. II-VI, Inc. has a one year low of $36.60 and a one year high of $53.08. The company has a quick ratio of 2.17, a current ratio of 3.22 and a debt-to-equity ratio of 0.41.

II-VI (NASDAQ:IIVI) last announced its earnings results on Tuesday, August 7th. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.13. The company had revenue of $321.10 million for the quarter, compared to analysts’ expectations of $301.45 million. II-VI had a return on equity of 10.09% and a net margin of 7.59%. II-VI’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. On average, equities research analysts anticipate that II-VI, Inc. will post 1.94 earnings per share for the current year.

In other II-VI news, CEO Vincent D. Mattera, Jr. sold 9,450 shares of the business’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $39.79, for a total value of $376,015.50. Following the transaction, the chief executive officer now owns 250,310 shares of the company’s stock, valued at $9,959,834.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David G. Wagner sold 33,076 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $48.01, for a total value of $1,587,978.76. Following the completion of the transaction, the vice president now directly owns 71,578 shares in the company, valued at approximately $3,436,459.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,074 shares of company stock worth $4,439,836. 4.00% of the stock is owned by insiders.

IIVI has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on II-VI from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Cowen reaffirmed a “buy” rating and issued a $64.00 price objective on shares of II-VI in a research note on Wednesday, August 8th. ValuEngine raised II-VI from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. B. Riley cut their price objective on II-VI from $54.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, August 2nd. Finally, Benchmark lifted their price objective on II-VI from $48.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. II-VI currently has an average rating of “Buy” and an average target price of $53.69.

II-VI 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.

Recommended Story: S&P 500 Index

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

Receive News & Ratings for II-VI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for II-VI and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.