Prudential Financial Inc. Has $3.25 Million Position in II-VI, Inc. (IIVI)
Prudential Financial Inc. raised its position in shares of II-VI, Inc. (NASDAQ:IIVI) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,216 shares of the scientific and technical instruments company’s stock after buying an additional 1,818 shares during the period. Prudential Financial Inc.’s holdings in II-VI were worth $3,253,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IIVI. Piedmont Investment Advisors Inc. boosted its holdings in II-VI by 5.0% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 14,277 shares of the scientific and technical instruments company’s stock valued at $463,000 after purchasing an additional 683 shares during the period. Whittier Trust Co. purchased a new position in II-VI in the fourth quarter valued at $4,777,000. Oregon Public Employees Retirement Fund acquired a new stake in II-VI in the fourth quarter valued at $738,000. Fort Pitt Capital Group LLC raised its stake in II-VI by 8.0% in the fourth quarter. Fort Pitt Capital Group LLC now owns 1,133,754 shares of the scientific and technical instruments company’s stock valued at $36,802,000 after buying an additional 83,519 shares in the last quarter. Finally, Comerica Bank raised its stake in II-VI by 2.3% in the fourth quarter. Comerica Bank now owns 58,351 shares of the scientific and technical instruments company’s stock valued at $1,913,000 after buying an additional 1,320 shares in the last quarter. Institutional investors and hedge funds own 91.59% of the company’s stock.
IIVI opened at $39.63 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.00 and a current ratio of 3.17. II-VI, Inc. has a one year low of $29.31 and a one year high of $50.75. The stock has a market cap of $2.51 billion, a PE ratio of 23.04, a PEG ratio of 1.34 and a beta of 0.85.
In other news, Director Francis J. Kramer sold 30,000 shares of II-VI stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $39.62, for a total transaction of $1,188,600.00. Following the sale, the director now owns 192,647 shares in the company, valued at $7,632,674.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Francis J. Kramer sold 10,000 shares of II-VI stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $40.02, for a total value of $400,200.00. Following the sale, the director now owns 172,647 shares in the company, valued at approximately $6,909,332.94. The disclosure for this sale can be found here. Insiders have sold 57,517 shares of company stock worth $2,300,042 in the last quarter. Insiders own 4.00% of the company’s stock.
IIVI has been the topic of a number of analyst reports. Zacks Investment Research upgraded II-VI from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, January 16th. Benchmark restated a “buy” rating and issued a $55.00 price target on shares of II-VI in a research note on Friday, February 1st. ValuEngine upgraded II-VI from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. BidaskClub upgraded II-VI from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, Morgan Stanley set a $44.00 price target on II-VI and gave the company a “hold” rating in a research note on Saturday, February 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.09.
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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