BNP Paribas Arbitrage SA decreased its position in shares of Rofin-Sinar Technologies Inc. (NASDAQ:RSTI) by 50.2% during the third quarter, Holdings Channel reports. The fund owned 4,469 shares of the company’s stock after selling 4,512 shares during the period. BNP Paribas Arbitrage SA’s holdings in Rofin-Sinar Technologies were worth $144,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC acquired a new position in Rofin-Sinar Technologies during the second quarter worth about $102,000. Teacher Retirement System of Texas boosted its position in Rofin-Sinar Technologies by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,971 shares of the company’s stock worth $127,000 after buying an additional 481 shares in the last quarter. Mason Street Advisors LLC acquired a new position in Rofin-Sinar Technologies during the second quarter worth about $177,000. Shufro Rose & Co. LLC acquired a new position in Rofin-Sinar Technologies during the first quarter worth about $209,000. Finally, BlackRock Inc. boosted its position in Rofin-Sinar Technologies by 285.0% in the second quarter. BlackRock Inc. now owns 7,234 shares of the company’s stock worth $231,000 after buying an additional 5,355 shares in the last quarter. 88.14% of the stock is owned by institutional investors.
Rofin-Sinar Technologies (NASDAQ:RSTI) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Rofin-Sinar Technologies had a net margin of 6.80% and a return on equity of 7.04%. The firm earned $125.94 million during the quarter, compared to analysts’ expectations of $130.90 million. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was down 5.0% compared to the same quarter last year.
Separately, Zacks Investment Research raised Rofin-Sinar Technologies from a “sell” rating to a “hold” rating in a report on Friday, August 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.67.
Rofin-Sinar Technologies Company Profile
ROFIN-SINAR Technologies Inc is engaged in the design, development, engineering, manufacturing and marketing of laser sources and laser-based system solutions for industrial material processing applications, which include primarily cutting, welding and marking a range of materials. The Company offers a range of laser components.
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