Acadian Asset Management LLC Reduces Position in Canon, Inc. (CAJ)
Acadian Asset Management LLC lowered its position in shares of Canon, Inc. (NYSE:CAJ) by 31.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,173 shares of the technology company’s stock after selling 4,256 shares during the period. Acadian Asset Management LLC’s holdings in Canon were worth $312,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CAJ. Mondrian Investment Partners LTD increased its position in Canon by 31.8% in the first quarter. Mondrian Investment Partners LTD now owns 1,238,737 shares of the technology company’s stock worth $38,401,000 after buying an additional 299,000 shares during the period. Conning Inc. acquired a new position in Canon during the first quarter worth approximately $313,000. Wetherby Asset Management Inc. increased its position in Canon by 11.5% in the first quarter. Wetherby Asset Management Inc. now owns 20,149 shares of the technology company’s stock worth $630,000 after buying an additional 2,071 shares during the period. Greenleaf Trust acquired a new position in Canon during the first quarter worth approximately $534,000. Finally, Wells Fargo & Company MN increased its position in Canon by 498.0% in the first quarter. Wells Fargo & Company MN now owns 86,796 shares of the technology company’s stock worth $2,714,000 after buying an additional 72,282 shares during the period. 1.40% of the stock is currently owned by institutional investors and hedge funds.
Canon, Inc. (NYSE:CAJ) traded up 0.52% on Tuesday, reaching $35.01. 29,479 shares of the company’s stock were exchanged. The stock has a market cap of $37.80 billion, a price-to-earnings ratio of 21.81 and a beta of 0.41. The firm has a 50 day moving average of $34.30 and a 200-day moving average of $32.56. Canon, Inc. has a one year low of $27.76 and a one year high of $35.91.
Canon (NYSE:CAJ) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The business had revenue of $8.86 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Canon had a net margin of 5.17% and a return on equity of 6.48%. Equities research analysts forecast that Canon, Inc. will post $1.64 EPS for the current fiscal year.
CAJ has been the topic of a number of research reports. Zacks Investment Research raised shares of Canon from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research report on Tuesday, April 18th. BidaskClub downgraded shares of Canon from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $36.00.
Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
Want to see what other hedge funds are holding CAJ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canon, Inc. (NYSE:CAJ).
Receive News & Ratings for Canon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canon Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.