Rodgers Brothers Inc. cut its stake in II-VI, Inc. (NASDAQ:IIVI) by 5.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 698,857 shares of the scientific and technical instruments company’s stock after selling 37,540 shares during the period. II-VI comprises about 10.7% of Rodgers Brothers Inc.’s holdings, making the stock its largest holding. Rodgers Brothers Inc. owned about 1.12% of II-VI worth $32,811,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates purchased a new stake in II-VI during the 4th quarter worth about $556,000. Teachers Retirement System of The State of Kentucky lifted its holdings in II-VI by 9.7% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 99,305 shares of the scientific and technical instruments company’s stock worth $4,662,000 after buying an additional 8,759 shares during the last quarter. Robecosam AG lifted its holdings in II-VI by 520.0% during the 4th quarter. Robecosam AG now owns 310,000 shares of the scientific and technical instruments company’s stock worth $14,741,000 after buying an additional 260,000 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in II-VI during the 4th quarter worth about $210,000. Finally, Discovery Capital Management LLC CT purchased a new stake in II-VI during the 4th quarter worth about $116,367,000. Hedge funds and other institutional investors own 89.26% of the company’s stock.
Shares of II-VI, Inc. (IIVI) opened at $41.75 on Wednesday. II-VI, Inc. has a fifty-two week low of $27.25 and a fifty-two week high of $53.08. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.01 and a quick ratio of 2.71. The firm has a market capitalization of $2,610.00, a PE ratio of 31.63, a PEG ratio of 1.23 and a beta of 0.12.
A number of brokerages have issued reports on IIVI. Northland Securities downgraded II-VI from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. BidaskClub raised II-VI from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. lifted their price target on II-VI from $50.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. ValuEngine downgraded II-VI from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Loop Capital began coverage on II-VI in a report on Monday, January 29th. They set a “buy” rating and a $70.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $51.55.
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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.
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