II-VI Inc. (IIVI) Position Maintained by Hancock Holding Co.
Hancock Holding Co. held its stake in II-VI Inc. (NASDAQ:IIVI) during the second quarter, Holdings Channel reports. The institutional investor owned 22,400 shares of the company’s stock at the end of the second quarter. Hancock Holding Co.’s holdings in II-VI were worth $420,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Teacher Retirement System of Texas increased its stake in shares of II-VI by 20.8% in the second quarter. Teacher Retirement System of Texas now owns 7,699 shares of the company’s stock worth $144,000 after buying an additional 1,327 shares during the last quarter. Foundry Partners LLC purchased a new stake in shares of II-VI during the second quarter worth about $241,000. Oak Associates Ltd. OH purchased a new stake in shares of II-VI during the second quarter worth about $258,000. Squarepoint Ops LLC purchased a new stake in shares of II-VI during the first quarter worth about $277,000. Finally, Acrospire Investment Management LLC purchased a new stake in shares of II-VI during the first quarter worth about $291,000. Institutional investors own 73.04% of the company’s stock.
Shares of II-VI Inc. (NASDAQ:IIVI) traded up 1.32% during mid-day trading on Wednesday, hitting $22.95. 73,769 shares of the company were exchanged. The company has a market capitalization of $1.44 billion, a P/E ratio of 22.07 and a beta of 0.55. The company has a 50 day moving average of $21.54 and a 200 day moving average of $20.66. II-VI Inc. has a 52 week low of $15.04 and a 52 week high of $23.39.
II-VI (NASDAQ:IIVI) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.16. II-VI had a net margin of 7.92% and a return on equity of 10.93%. The company earned $241.40 million during the quarter, compared to analysts’ expectations of $214.13 million. During the same period last year, the company posted $0.27 EPS. II-VI’s revenue was up 17.8% on a year-over-year basis. Equities analysts anticipate that II-VI Inc. will post $1.04 earnings per share for the current year.
A number of research firms have recently weighed in on IIVI. Zacks Investment Research downgraded shares of II-VI from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. B. Riley reissued a “neutral” rating and set a $22.00 target price on shares of II-VI in a research report on Wednesday, August 3rd. Needham & Company LLC reissued a “buy” rating and set a $26.00 target price on shares of II-VI in a research report on Wednesday, August 3rd. Finally, Benchmark Co. reduced their target price on shares of II-VI from $25.00 to $23.50 and set a “buy” rating for the company in a research report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $23.38.
In other II-VI news, Director Wendy F. Dicicco sold 4,000 shares of II-VI stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $22.30, for a total value of $89,200.00. Following the completion of the transaction, the director now directly owns 38,946 shares of the company’s stock, valued at $868,495.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard H. Xia bought 3,696 shares of the firm’s stock in a transaction on Saturday, August 20th. The stock was purchased at an average cost of $21.67 per share, with a total value of $80,092.32. Following the completion of the acquisition, the director now directly owns 30,996 shares of the company’s stock, valued at approximately $671,683.32. The disclosure for this purchase 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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