Amalgamated Bank Decreases Stock Position in II-VI Incorporated (NASDAQ:IIVI)

Amalgamated Bank reduced its position in II-VI Incorporated (NASDAQ:IIVIGet Rating) by 4.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,824 shares of the scientific and technical instruments company’s stock after selling 3,389 shares during the quarter. Amalgamated Bank owned approximately 0.07% of II-VI worth $5,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of IIVI. Snyder Capital Management L P increased its position in II-VI by 0.9% in the fourth quarter. Snyder Capital Management L P now owns 498,879 shares of the scientific and technical instruments company’s stock worth $34,088,000 after buying an additional 4,317 shares during the last quarter. Alpha Paradigm Partners LLC purchased a new stake in II-VI in the fourth quarter worth $639,000. Waters Parkerson & CO. LLC increased its position in II-VI by 298.5% in the fourth quarter. Waters Parkerson & CO. LLC now owns 307,170 shares of the scientific and technical instruments company’s stock worth $20,989,000 after buying an additional 230,085 shares during the last quarter. Hedeker Wealth LLC grew its position in shares of II-VI by 33.4% in the first quarter. Hedeker Wealth LLC now owns 94,819 shares of the scientific and technical instruments company’s stock valued at $6,873,000 after purchasing an additional 23,752 shares in the last quarter. Finally, Congress Asset Management Co. MA grew its position in shares of II-VI by 8.0% in the first quarter. Congress Asset Management Co. MA now owns 36,511 shares of the scientific and technical instruments company’s stock valued at $2,647,000 after purchasing an additional 2,707 shares in the last quarter.

II-VI Trading Up 0.7 %

NASDAQ IIVI opened at $41.95 on Tuesday. II-VI Incorporated has a 1-year low of $40.80 and a 1-year high of $75.05. The company has a current ratio of 3.40, a quick ratio of 2.69 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $50.24 and a 200-day moving average of $58.65. The firm has a market cap of $5.49 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.00 and a beta of 1.46.

II-VI (NASDAQ:IIVIGet Rating) last released its earnings results on Wednesday, August 24th. The scientific and technical instruments company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. II-VI had a return on equity of 14.27% and a net margin of 7.08%. The company had revenue of $887.00 million during the quarter, compared to analyst estimates of $858.96 million. During the same quarter in the previous year, the company posted $0.75 EPS. II-VI’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that II-VI Incorporated will post 3.25 EPS for the current year.

Insider Activity

In other II-VI news, Director Joseph J. Corasanti purchased 10,000 shares of the stock in a transaction on Tuesday, September 13th. The stock was acquired at an average price of $43.84 per share, with a total value of $438,400.00. Following the transaction, the director now directly owns 82,996 shares of the company’s stock, valued at approximately $3,638,544.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mary Jane Raymond sold 2,000 shares of II-VI stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $51.97, for a total value of $103,940.00. Following the sale, the chief financial officer now directly owns 184,356 shares in the company, valued at approximately $9,580,981.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph J. Corasanti purchased 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were purchased at an average price of $43.84 per share, for a total transaction of $438,400.00. Following the completion of the transaction, the director now directly owns 82,996 shares of the company’s stock, valued at $3,638,544.64. The disclosure for this purchase can be found here. 2.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Susquehanna Bancshares reduced their price target on II-VI to $58.00 in a research report on Monday, July 25th. StockNews.com assumed coverage on II-VI in a research report on Saturday. They issued a “hold” rating for the company. Northland Securities reduced their price target on II-VI from $80.00 to $65.00 in a research report on Thursday, August 25th. Cowen boosted their target price on II-VI from $110.00 to $115.00 in a research report on Monday, August 29th. Finally, TheStreet cut II-VI from a “b-” rating to a “c” rating in a research report on Friday, July 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $77.63.

II-VI Profile

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II-VI Incorporated develops, manufactures, and markets engineered materials, optoelectronic components, and devices worldwide. It operates through two segments, Compound Semiconductors and Photonic Solutions. The Compound Semiconductors segment provides optical and electro-optical components and materials used in high-power CO2 lasers, fiber-lasers, and direct diode lasers for materials processing applications; infrared optical components and high-precision optical assemblies for aerospace and defense, medical, and commercial laser imaging applications; semiconductor lasers and detectors for optical interconnects and sensing applications; engineered materials for thermoelectric, ceramics, and silicon carbide various applications; and compound semiconductor epitaxial wafers for applications in optical and wireless communication.

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

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