Today, Mutual of America Capital Management LLC Increases Position in IPG Photonics Corp. (IPGP)

Today, Mutual of America Capital Management LLC Increases Position in IPG Photonics Corp. (IPGP)

Mutual of America Capital Management LLC increased its position in shares of IPG Photonics Corp. (NASDAQ:IPGP) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 27,681 shares of the company’s stock after buying an additional 287 shares during the period. Mutual of America Capital Management LLC’s holdings in IPG Photonics Corp. were worth $2,280,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in IPG Photonics Corp. by 2.7% in the second quarter. Vanguard Group Inc. now owns 2,524,446 shares of the company’s stock worth $201,956,000 after buying an additional 66,242 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of IPG Photonics Corp. by 6.0% in the second quarter. BlackRock Fund Advisors now owns 1,299,806 shares of the company’s stock worth $103,984,000 after buying an additional 74,043 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of IPG Photonics Corp. by 6.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,094,770 shares of the company’s stock worth $87,582,000 after buying an additional 64,816 shares during the last quarter. State Street Corp increased its stake in shares of IPG Photonics Corp. by 0.5% in the second quarter. State Street Corp now owns 958,330 shares of the company’s stock worth $76,667,000 after buying an additional 4,747 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of IPG Photonics Corp. by 24.4% in the second quarter. Neuberger Berman Group LLC now owns 933,851 shares of the company’s stock worth $74,708,000 after buying an additional 183,310 shares during the last quarter. Institutional investors and hedge funds own 60.03% of the company’s stock.

Shares of IPG Photonics Corp. (NASDAQ:IPGP) traded down 0.15% during trading on Monday, reaching $97.27. 167,665 shares of the company traded hands. IPG Photonics Corp. has a 12-month low of $73.55 and a 12-month high of $102.90. The firm’s 50 day moving average is $91.13 and its 200-day moving average is $85.54. The stock has a market capitalization of $5.17 billion, a P/E ratio of 21.24 and a beta of 2.07.

IPG Photonics Corp. (NASDAQ:IPGP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.06. The business earned $266 million during the quarter, compared to the consensus estimate of $255.27 million. IPG Photonics Corp. had a net margin of 25.83% and a return on equity of 17.73%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.18 earnings per share. On average, equities research analysts anticipate that IPG Photonics Corp. will post $4.71 earnings per share for the current fiscal year.

A number of analysts have weighed in on IPGP shares. Zacks Investment Research downgraded IPG Photonics Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. reiterated an “outperform” rating and set a $92.00 price target on shares of IPG Photonics Corp. in a report on Tuesday, September 13th. Canaccord Genuity set a $100.00 price target on IPG Photonics Corp. and gave the stock a “buy” rating in a report on Thursday, August 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $96.00 price target (down from $98.00) on shares of IPG Photonics Corp. in a report on Monday, August 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $96.43.

In other IPG Photonics Corp. news, SVP Angelo P. Lopresti sold 1,911 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $96.31, for a total value of $184,048.41. Following the completion of the sale, the senior vice president now directly owns 47,282 shares of the company’s stock, valued at $4,553,729.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Angelo P. Lopresti sold 5,589 shares of the business’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $96.30, for a total transaction of $538,220.70. Following the completion of the sale, the senior vice president now directly owns 41,693 shares of the company’s stock, valued at $4,015,035.90. The disclosure for this sale can be found here. 34.20% of the stock is currently owned by company insiders.

IPG Photonics Corp. Company Profile

IPG Photonics Corporation is engaged in the design, development, production and distribution of fiber lasers, laser systems, fiber amplifiers and related optical components. The Company offers a line of lasers and amplifiers, which are used in materials processing, advanced communications and medical applications.

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