Prudential Financial Inc. Sells 36,590 Shares of Mentor Graphics Corp. (MENT)
Prudential Financial Inc. decreased its position in shares of Mentor Graphics Corp. (NASDAQ:MENT) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 277,243 shares of the company’s stock after selling 36,590 shares during the period. Prudential Financial Inc. owned 0.26% of Mentor Graphics Corp. worth $5,894,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Mentor Graphics Corp. by 100.8% in the second quarter. Bank of New York Mellon Corp now owns 2,727,073 shares of the company’s stock worth $57,979,000 after buying an additional 1,369,135 shares during the last quarter. LSV Asset Management raised its position in Mentor Graphics Corp. by 54.7% in the second quarter. LSV Asset Management now owns 3,207,764 shares of the company’s stock worth $68,197,000 after buying an additional 1,134,128 shares during the last quarter. Teachers Advisors Inc. raised its position in Mentor Graphics Corp. by 188.2% in the first quarter. Teachers Advisors Inc. now owns 1,308,224 shares of the company’s stock worth $26,596,000 after buying an additional 854,362 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in Mentor Graphics Corp. during the second quarter worth about $12,237,000. Finally, Bank of Montreal Can purchased a new position in Mentor Graphics Corp. during the second quarter worth about $8,427,000. Institutional investors and hedge funds own 97.77% of the company’s stock.
Shares of Mentor Graphics Corp. (NASDAQ:MENT) opened at 27.09 on Wednesday. The stock’s 50 day moving average is $24.61 and its 200 day moving average is $21.95. Mentor Graphics Corp. has a 12 month low of $16.10 and a 12 month high of $28.09. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 47.11 and a beta of 0.86.
Mentor Graphics Corp. (NASDAQ:MENT) last issued its quarterly earnings data on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The business earned $254.34 million during the quarter, compared to analyst estimates of $245.17 million. Mentor Graphics Corp. had a net margin of 5.85% and a return on equity of 6.15%. During the same quarter last year, the business earned $0.36 EPS. The firm’s quarterly revenue was down 9.5% on a year-over-year basis. Equities research analysts forecast that Mentor Graphics Corp. will post $1.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a dividend of $0.055 per share. The ex-dividend date was Thursday, September 15th. This represents a $0.22 annualized dividend and a yield of 0.81%. Mentor Graphics Corp.’s payout ratio is 40.74%.
A number of research analysts recently issued reports on MENT shares. Zacks Investment Research lowered shares of Mentor Graphics Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, October 6th. Pacific Crest restated a “hold” rating on shares of Mentor Graphics Corp. in a research report on Thursday, August 18th. TheStreet upgraded shares of Mentor Graphics Corp. from a “hold” rating to a “buy” rating in a research report on Friday, October 7th. DA Davidson upgraded shares of Mentor Graphics Corp. from a “neutral” rating to a “buy” rating and raised their price target for the stock from $24.00 to $32.00 in a research report on Monday. They noted that the move was a valuation call. Finally, KeyCorp restated a “hold” rating on shares of Mentor Graphics Corp. in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $27.33.
About Mentor Graphics Corp.
Mentor Graphics Corporation is a supplier of electronic design automation (EDA) tools, which include computer software and emulation hardware systems used to automate the design, analysis and testing of complex electro-mechanical systems, electronic hardware and embedded systems software in electronic systems and components.
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