Harding Loevner Lp Lowers stake in IPG Photonics Corporation (IPGP)

IPG Photonics Corporation (IPGP) : Harding Loevner Lp reduced its stake in IPG Photonics Corporation by 0.38% during the most recent quarter end. The investment management company now holds a total of 1,636,190 shares of IPG Photonics Corporation which is valued at $139,714,264 after selling 6,236 shares in IPG Photonics Corporation , the firm said in a disclosure report filed with the SEC on Oct 11, 2016.IPG Photonics Corporation makes up approximately 0.99% of Harding Loevner Lp’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp boosted its stake in IPGP in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 1,168 shares of IPG Photonics Corporation which is valued at $99,736. IPG Photonics Corporation makes up approx 0.01% of Cutler Group Lp’s portfolio. Simplex Trading sold out all of its stake in IPGP during the most recent quarter. The investment firm sold 810 shares of IPGP which is valued $68,818.Bnp Paribas Arbitrage Sa reduced its stake in IPGP by selling 11,067 shares or 76.54% in the most recent quarter. The Hedge Fund company now holds 3,393 shares of IPGP which is valued at $282,908.

IPG Photonics Corporation closed down -1.94 points or -2.27% at $83.45 with 1,73,621 shares getting traded on Tuesday. Post opening the session at $85.18, the shares hit an intraday low of $83.35 and an intraday high of $85.885 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, IPG Photonics Corporation reported $1.25 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $1.19. The company had revenue of $252.80 million for the quarter, compared to analysts expectations of $243.43 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.

IPG Photonics Corporation is a developer and manufacturer of a range of fiber lasers fiber amplifiers and diode lasers that are used for various applications primarily in materials processing. The Company offers a line of lasers and amplifiers which are used in materials processing advanced communications and medical applications. The Company sells its products globally to original equipment manufacturers (OEMs) system integrators and end users and markets its products internationally through direct sales force. It designs and manufactures packaged diodes direct diode lasers laser systems communications systems and materials processing laser systems that utilize its optical fiber-based products as well as other laser sources. It also manufactures complementary products used with its lasers including optical delivery cables fiber couplers beam switches optical processing heads and chillers.

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