Louisiana State Employees Retirement System Sells 1,000 Shares of Mentor Graphics Corp. (MENT)
Louisiana State Employees Retirement System cut its position in Mentor Graphics Corp. (NASDAQ:MENT) by 3.6% during the second quarter, Holdings Channel reports. The institutional investor owned 26,700 shares of the company’s stock after selling 1,000 shares during the period. Louisiana State Employees Retirement System’s holdings in Mentor Graphics Corp. were worth $568,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in MENT. Bank of Montreal Can bought a new stake in Mentor Graphics Corp. during the second quarter worth approximately $8,427,000. Foundry Partners LLC boosted its stake in Mentor Graphics Corp. by 2,680.8% in the second quarter. Foundry Partners LLC now owns 406,408 shares of the company’s stock worth $8,640,000 after buying an additional 391,793 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Mentor Graphics Corp. by 109.5% in the first quarter. JPMorgan Chase & Co. now owns 527,142 shares of the company’s stock worth $10,717,000 after buying an additional 275,516 shares in the last quarter. Barclays PLC boosted its stake in Mentor Graphics Corp. by 3,309.1% in the first quarter. Barclays PLC now owns 216,241 shares of the company’s stock worth $4,325,000 after buying an additional 209,898 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Mentor Graphics Corp. by 19.9% in the first quarter. TIAA CREF Investment Management LLC now owns 880,146 shares of the company’s stock worth $17,893,000 after buying an additional 146,083 shares in the last quarter. 97.71% of the stock is currently owned by hedge funds and other institutional investors.
Mentor Graphics Corp. (NASDAQ:MENT) traded up 3.09% on Monday, reaching $28.37. The company’s stock had a trading volume of 3,040,025 shares. The firm’s 50 day moving average price is $25.03 and its 200-day moving average price is $22.17. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 49.34 and a beta of 0.86. Mentor Graphics Corp. has a 1-year low of $16.10 and a 1-year high of $28.54.
Mentor Graphics Corp. (NASDAQ:MENT) last announced its quarterly earnings results on Thursday, August 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.06. Mentor Graphics Corp. had a return on equity of 6.15% and a net margin of 5.85%. The business had revenue of $254.34 million for the quarter, compared to the consensus estimate of $245.17 million. During the same period last year, the business posted $0.36 EPS. The business’s revenue was down 9.5% compared to the same quarter last year. Equities analysts forecast that Mentor Graphics Corp. will post $1.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a $0.055 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.78%. Mentor Graphics Corp.’s dividend payout ratio is presently 40.74%.
A number of equities research analysts have recently commented on MENT shares. DA Davidson cut Mentor Graphics Corp. from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research note on Thursday, August 18th. They noted that the move was a valuation call. Zacks Investment Research downgraded Mentor Graphics Corp. from a “hold” rating to a “sell” rating in a report on Thursday, October 6th. Pacific Crest reaffirmed a “hold” rating on shares of Mentor Graphics Corp. in a report on Thursday, August 18th. KeyCorp reaffirmed a “hold” rating on shares of Mentor Graphics Corp. in a report on Tuesday, August 16th. Finally, TheStreet raised Mentor Graphics Corp. from a “hold” rating to a “buy” rating in a report on Friday, October 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $27.33.
Mentor Graphics Corp. Company Profile
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.
Want to see what other hedge funds are holding MENT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mentor Graphics Corp. (NASDAQ:MENT).
Receive News & Ratings for Mentor Graphics Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mentor Graphics Corp. and related companies with MarketBeat.com's FREE daily email newsletter.