Pitcairn Co. Purchases Shares of 11,006 II-VI, Inc. (IIVI)

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Pitcairn Co. bought a new stake in II-VI, Inc. (NASDAQ:IIVI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,006 shares of the scientific and technical instruments company’s stock, valued at approximately $521,000.

Other large investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC bought a new stake in II-VI in the second quarter valued at approximately $128,000. Jaffetilchin Investment Partners LLC bought a new stake in II-VI in the third quarter valued at approximately $238,000. Janus Henderson Group PLC bought a new stake in II-VI in the second quarter valued at approximately $244,000. Gagnon Securities LLC bought a new stake in II-VI in the second quarter valued at approximately $254,000. Finally, Sheets Smith Wealth Management increased its stake in II-VI by 60.6% in the second quarter. Sheets Smith Wealth Management now owns 8,391 shares of the scientific and technical instruments company’s stock valued at $365,000 after purchasing an additional 3,166 shares in the last quarter. 92.59% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Mary Jane Raymond sold 4,000 shares of the stock in a transaction on Friday, August 10th. The shares were sold at an average price of $44.88, for a total transaction of $179,520.00. Following the completion of the transaction, the chief financial officer now owns 47,368 shares in the company, valued at $2,125,875.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph J. Corasanti sold 40,120 shares of the stock in a transaction on Friday, August 10th. The stock was sold at an average price of $44.88, for a total transaction of $1,800,585.60. The disclosure for this sale can be found here. Insiders have sold 87,624 shares of company stock valued at $4,063,820 in the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

IIVI has been the subject of several recent analyst reports. BidaskClub raised shares of II-VI from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Needham & Company LLC upped their target price on shares of II-VI from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. ValuEngine raised shares of II-VI from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Zacks Investment Research cut shares of II-VI from a “strong-buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, B. Riley reduced their price target on shares of II-VI from $54.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 2nd. One equities research 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 has an average rating of “Buy” and an average target price of $53.69.

II-VI stock opened at $45.44 on Wednesday. The company has a market capitalization of $2.88 billion, a PE ratio of 26.42, a P/E/G ratio of 1.45 and a beta of 0.66. II-VI, Inc. has a twelve month low of $34.88 and a twelve month high of $53.08. The company has a quick ratio of 2.45, a current ratio of 3.63 and a debt-to-equity ratio of 0.50.

II-VI (NASDAQ:IIVI) last released its quarterly earnings results on Thursday, November 1st. The scientific and technical instruments company reported $0.56 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The company had revenue of $314.40 million during the quarter, compared to analysts’ expectations of $310.92 million. II-VI had a net margin of 7.68% and a return on equity of 10.89%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. As a group, equities research analysts predict that II-VI, Inc. will post 1.84 EPS for the current fiscal year.

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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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