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.

II-VI (NASDAQ:IIVI) last posted its earnings results on Thursday, January 3rd. The scientific and technical instruments company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.02). II-VI had a return on equity of 10.93% and a net margin of 8.81%. The firm had revenue of $342.84 million for the quarter, compared to analyst estimates of $339.22 million. As a group, equities research analysts anticipate that II-VI, Inc. will post 1.72 EPS for the current year.

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.

COPYRIGHT VIOLATION WARNING: “Prudential Financial Inc. Has $3.25 Million Position in II-VI, Inc. (IIVI)” was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The legal version of this news story can be viewed at https://www.watchlistnews.com/prudential-financial-inc-has-3-25-million-position-in-ii-vi-inc-iivi/2895719.html.

About II-VI

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.

Featured Article: Gross Domestic Product (GDP)

Want to see what other hedge funds are holding IIVI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for II-VI, Inc. (NASDAQ:IIVI).

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.