Mason Street Advisors LLC Buys 887 Shares of II-VI Incorporated (NASDAQ:IIVI)

Mason Street Advisors LLC raised its position in II-VI Incorporated (NASDAQ:IIVI) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,727 shares of the scientific and technical instruments company’s stock after buying an additional 887 shares during the period. Mason Street Advisors LLC’s holdings in II-VI were worth $459,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of the stock. Ameritas Investment Partners Inc. acquired a new stake in shares of II-VI during the first quarter valued at $185,000. AlphaOne Investment Services LLC purchased a new stake in II-VI during the first quarter worth approximately $2,978,000. 1st Global Advisors Inc. boosted its stake in II-VI by 2.0% in the first quarter. 1st Global Advisors Inc. now owns 15,005 shares of the scientific and technical instruments company’s stock worth $541,000 after buying an additional 299 shares during the last quarter. RidgeWorth Capital Management LLC bought a new position in II-VI during the first quarter worth about $520,000. Finally, Airain ltd bought a new position in II-VI during the first quarter worth about $758,000. Institutional investors own 78.09% of the company’s stock.

Shares of II-VI Incorporated (NASDAQ IIVI) traded down 2.48% during midday trading on Monday, reaching $37.30. 473,238 shares of the company were exchanged. II-VI Incorporated has a 52-week low of $19.37 and a 52-week high of $41.10. The company has a market capitalization of $2.35 billion, a PE ratio of 31.06 and a beta of 0.05. The firm’s 50 day moving average is $32.52 and its 200-day moving average is $33.48.

II-VI (NASDAQ:IIVI) last released its quarterly earnings data on Tuesday, May 2nd. The scientific and technical instruments company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. The business had revenue of $245 million for the quarter, compared to analysts’ expectations of $240.55 million. II-VI had a return on equity of 12.49% and a net margin of 8.19%. II-VI’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 earnings per share. On average, equities analysts forecast that II-VI Incorporated will post $1.33 earnings per share for the current fiscal year.

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Several analysts recently commented on IIVI shares. Zacks Investment Research lowered shares of II-VI from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 28th. B. Riley reaffirmed a “buy” rating and set a $35.75 price objective on shares of II-VI in a report on Monday, May 8th. Northland Securities initiated coverage on shares of II-VI in a report on Thursday, July 6th. They issued an “outperform” rating and a $45.00 price objective for the company. Benchmark Co. reiterated a “buy” rating and set a $40.00 price target on shares of II-VI in a report on Thursday, April 6th. Finally, ValuEngine upgraded shares of II-VI from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.55.

In other II-VI news, VP David G. Wagner sold 4,444 shares of the business’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $36.00, for a total value of $159,984.00. Following the transaction, the vice president now owns 45,284 shares of the company’s stock, valued at $1,630,224. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Wendy F. Dicicco sold 2,500 shares of the business’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $33.19, for a total value of $82,975.00. Following the completion of the transaction, the director now directly owns 33,046 shares in the company, valued at approximately $1,096,796.74. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

About II-VI

II-VI Incorporated develops and manufactures engineered materials, optoelectronic components and products. The Company has three segments: II-VI Laser Solutions, II-VI Photonics and II-VI Performance Products. The II-VI Laser Solutions segment designs, manufactures and markets optical and electro-optical components and materials sold under the II-VI Infrared brand name and used in carbon dioxide (CO2) lasers, fiber-delivered beam delivery systems and processing tools and direct diode lasers for industrial lasers sold under the II-VI HIGHYAG and II-VI Laser Enterprise brand names.

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

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