Russell Investments Group Ltd. lessened its holdings in Mantech International Corp (NASDAQ:MANT) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,858 shares of the technology company’s stock after selling 8,400 shares during the period. Russell Investments Group Ltd. owned approximately 0.23% of Mantech International worth $5,917,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in Mantech International by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 10,280 shares of the technology company’s stock valued at $555,000 after purchasing an additional 186 shares during the last quarter. Bessemer Group Inc. lifted its stake in Mantech International by 0.3% in the second quarter. Bessemer Group Inc. now owns 68,600 shares of the technology company’s stock valued at $4,517,000 after purchasing an additional 200 shares during the last quarter. Mason Street Advisors LLC lifted its stake in Mantech International by 3.6% in the first quarter. Mason Street Advisors LLC now owns 8,537 shares of the technology company’s stock valued at $461,000 after purchasing an additional 294 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its stake in Mantech International by 5.6% in the first quarter. Piedmont Investment Advisors Inc. now owns 6,667 shares of the technology company’s stock valued at $360,000 after purchasing an additional 352 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Mantech International by 1.0% in the second quarter. Arizona State Retirement System now owns 41,407 shares of the technology company’s stock valued at $2,727,000 after purchasing an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 67.37% of the company’s stock.
Several equities analysts recently commented on MANT shares. Wells Fargo & Co downgraded Mantech International from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 1st. Morgan Stanley set a $66.00 target price on shares of Mantech International and gave the company a “hold” rating in a report on Wednesday, August 21st. BidaskClub cut shares of Mantech International from a “strong-buy” rating to a “buy” rating in a report on Wednesday. SunTrust Banks boosted their target price on shares of Mantech International to $77.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research cut shares of Mantech International from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $73.40.
In other news, CEO Kevin M. Phillips sold 32,431 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $67.98, for a total value of $2,204,659.38. Following the transaction, the chief executive officer now owns 106,063 shares of the company’s stock, valued at $7,210,162.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Richard John Wagner sold 8,600 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $70.23, for a total transaction of $603,978.00. Following the completion of the transaction, the insider now directly owns 7,635 shares in the company, valued at approximately $536,206.05. The disclosure for this sale can be found here. Corporate insiders own 33.70% of the company’s stock.
MANT stock traded up $1.16 during midday trading on Friday, reaching $69.22. 22,351 shares of the company’s stock traded hands, compared to its average volume of 117,420. The company has a 50-day moving average price of $68.84 and a two-hundred day moving average price of $62.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.43 and a current ratio of 1.43. Mantech International Corp has a 52 week low of $48.25 and a 52 week high of $71.90. The firm has a market capitalization of $2.71 billion, a PE ratio of 33.60, a price-to-earnings-growth ratio of 3.66 and a beta of 0.90.
Mantech International (NASDAQ:MANT) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. Mantech International had a net margin of 4.30% and a return on equity of 6.21%. The business had revenue of $537.00 million for the quarter, compared to analysts’ expectations of $551.29 million. During the same quarter in the previous year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, analysts predict that Mantech International Corp will post 2.32 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.27 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.08 annualized dividend and a dividend yield of 1.56%. Mantech International’s payout ratio is currently 52.43%.
About Mantech International
ManTech International Corporation provides technology solutions and services for U.S. defense, intelligence community, and federal civilian agencies worldwide. The company offers cyber solutions and services, including security operations, threat intelligence, incident response and forensics, boundary defense, security systems engineering, infrastructure security, and computer forensics and exploitation.
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