IPG Photonics to be listed on S&P 500

Photo/Matt Pilon
Photo/Matt Pilon
The Oxford headquarters of IPG Photonics.

Just two weeks after Oxford-based IPG Photonics announced a 2017 revenue growth of 40 percent, Standard & Poor’s Dow Jones Indices announced the company will join the S&P 500 Index.
The announcement Friday from the S&P Dow Jones Indices said the company’s move from the S&P MidCap 400 would be effective at the start of trading Wednesday.
IPG Photonics, manufacturers of lasers and laser equipment for manufacturing use, will replace Tennessee media company Scripps Networks Interactive on the index. 
The move comes just weeks after the company announced a huge 2017, recording $1.4 billion in sales and a net income of $347.6 million - increases of 40 and 33 percent, respectively. 
IPG purchased 10 acres of land in Oxford for $375,000, but the company has not yet indicated what its plans are.