Weiss Asset Management LP increased its stake in II-VI, Inc. (NASDAQ:IIVI) by 64.8% during the second quarter, Holdings Channel reports. The firm owned 148,882 shares of the scientific and technical instruments company’s stock after acquiring an additional 58,543 shares during the period. Weiss Asset Management LP’s holdings in II-VI were worth $5,443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Holocene Advisors LP grew its position in II-VI by 181.2% in the second quarter. Holocene Advisors LP now owns 24,831 shares of the scientific and technical instruments company’s stock valued at $908,000 after acquiring an additional 16,002 shares during the last quarter. US Bancorp DE grew its position in II-VI by 41.0% in the second quarter. US Bancorp DE now owns 8,251 shares of the scientific and technical instruments company’s stock valued at $302,000 after acquiring an additional 2,400 shares during the last quarter. Miles Capital Inc. grew its position in II-VI by 7.7% in the second quarter. Miles Capital Inc. now owns 6,390 shares of the scientific and technical instruments company’s stock valued at $234,000 after acquiring an additional 457 shares during the last quarter. Maven Securities LTD bought a new position in II-VI in the second quarter valued at about $529,000. Finally, Parametric Portfolio Associates LLC grew its position in II-VI by 49.3% in the second quarter. Parametric Portfolio Associates LLC now owns 160,143 shares of the scientific and technical instruments company’s stock valued at $5,855,000 after acquiring an additional 52,857 shares during the last quarter. Institutional investors own 93.60% of the company’s stock.

Shares of II-VI stock traded down $0.36 during midday trading on Monday, reaching $40.65. The company had a trading volume of 34,288 shares, compared to its average volume of 630,302. The stock has a fifty day moving average price of $38.38 and a 200 day moving average price of $37.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.00 and a quick ratio of 1.91. The firm has a market cap of $2.59 billion, a PE ratio of 25.01, a P/E/G ratio of 1.02 and a beta of 1.12. II-VI, Inc. has a fifty-two week low of $29.31 and a fifty-two week high of $49.10.

II-VI (NASDAQ:IIVI) last posted its quarterly earnings data on Tuesday, August 13th. The scientific and technical instruments company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.29. The company had revenue of $362.70 million for the quarter, compared to analyst estimates of $348.02 million. II-VI had a return on equity of 10.37% and a net margin of 7.89%. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, sell-side analysts forecast that II-VI, Inc. will post 1.84 EPS for the current year.

A number of analysts have recently commented on the company. Zacks Investment Research lowered II-VI from a “hold” rating to a “strong sell” rating in a research note on Friday, August 2nd. B. Riley cut their price target on II-VI from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. ValuEngine raised II-VI from a “hold” rating to a “buy” rating in a research note on Wednesday, September 11th. BidaskClub raised II-VI from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $44.00 price objective (up from $39.00) on shares of II-VI in a research note on Monday, August 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $44.27.

In related news, CFO Mary Jane Raymond sold 16,000 shares of II-VI stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $39.25, for a total value of $628,000.00. Following the transaction, the chief financial officer now directly owns 48,427 shares of the company’s stock, valued at $1,900,759.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.00% of the stock is owned by insiders.

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.

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

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