Algert Global Increases Stake in Cadence Design System (CDNS); As Smucker J M (SJM) Stock Price Declined, Hemenway Trust Company Has Lifted Position

February 15, 2018 - By Richard Conner

Hemenway Trust Company Llc increased its stake in Smucker J M (SJM) by 8.42% based on its latest 2017Q3 regulatory filing with the SEC. Hemenway Trust Company Llc bought 5,506 shares as the company’s stock declined 7.31% while stock markets rallied. The institutional investor held 70,896 shares of the packaged foods company at the end of 2017Q3, valued at $7.44 million, up from 65,390 at the end of the previous reported quarter. Hemenway Trust Company Llc who had been investing in Smucker J M for a number of months, seems to be bullish on the $13.87B market cap company. The stock increased 0.91% or $1.1 during the last trading session, reaching $122.11. About 649,994 shares traded. The J. M. Smucker Company (NYSE:SJM) has declined 0.84% since February 15, 2017 and is downtrending. It has underperformed by 17.54% the S&P500.

Peter Algert increased its stake in Cadence Design System Inc (CDNS) by 14.19% based on its latest 2017Q3 regulatory filing with the SEC. Algert Global Llc bought 9,301 shares as the company’s stock rose 8.54% with the market. The hedge fund run by Peter Algert held 74,855 shares of the technology company at the end of 2017Q3, valued at $2.96M, up from 65,554 at the end of the previous reported quarter. Algert Global Llc who had been investing in Cadence Design System Inc for a number of months, seems to be bullish on the $10.98 billion market cap company. The stock increased 0.65% or $0.25 during the last trading session, reaching $38.88. About 1.22 million shares traded. Cadence Design Systems, Inc. (NASDAQ:CDNS) has risen 37.90% since February 15, 2017 and is uptrending. It has outperformed by 21.20% the S&P500.

Among 10 analysts covering Cadence Design Systems Inc (NASDAQ:CDNS), 5 have Buy rating, 1 Sell and 4 Hold. Therefore 50% are positive. Cadence Design Systems Inc had 26 analyst reports since July 29, 2015 according to SRatingsIntel. RBC Capital Markets maintained it with “Buy” rating and $3600 target in Friday, May 26 report. Credit Suisse initiated the shares of CDNS in report on Wednesday, October 19 with “Neutral” rating. The firm earned “Outperform” rating on Thursday, February 9 by RBC Capital Markets. The stock of Cadence Design Systems, Inc. (NASDAQ:CDNS) earned “Buy” rating by Topeka Capital Markets on Tuesday, October 27. The rating was maintained by Bank of America with “Buy” on Tuesday, July 25. The rating was upgraded by DA Davidson to “Buy” on Thursday, February 4. On Thursday, August 31 the stock rating was maintained by RBC Capital Markets with “Buy”. On Thursday, February 1 the stock rating was maintained by Credit Suisse with “Hold”. On Sunday, November 26 the stock rating was maintained by KeyBanc Capital Markets with “Hold”. RBC Capital Markets maintained it with “Outperform” rating and $25 target in Tuesday, October 27 report.

Investors sentiment increased to 1.36 in Q3 2017. Its up 0.27, from 1.09 in 2017Q2. It improved, as 32 investors sold CDNS shares while 105 reduced holdings. 71 funds opened positions while 115 raised stakes. 234.20 million shares or 0.26% more from 233.59 million shares in 2017Q2 were reported. Michigan-based Ls Investment Ltd has invested 0.03% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Oakbrook Ltd Com holds 0.11% of its portfolio in Cadence Design Systems, Inc. (NASDAQ:CDNS) for 41,900 shares. Zacks Inv holds 0.08% of its portfolio in Cadence Design Systems, Inc. (NASDAQ:CDNS) for 82,311 shares. 2.93M are held by Aqr Cap Management Ltd Liability Corp. Livforsakringsbolaget Skandia Omsesidigt invested in 5,500 shares. Canada Pension Plan Board, Ontario – Canada-based fund reported 2.94M shares. Balyasny Asset Mngmt has invested 0% in Cadence Design Systems, Inc. (NASDAQ:CDNS). The New Jersey-based Prudential Fincl has invested 0.08% in Cadence Design Systems, Inc. (NASDAQ:CDNS). Advsrs Asset invested in 43,140 shares. Legal General Gp Public Limited has 567,279 shares. Benjamin F Edwards & Inc holds 0.04% or 7,994 shares in its portfolio. Loomis Sayles And Lp accumulated 506 shares or 0% of the stock. 87,818 are owned by British Columbia Management Corporation. Rainier Investment Limited Liability invested in 73,520 shares or 0.68% of the stock. Rhumbline Advisers accumulated 493,211 shares.

Since August 15, 2017, it had 0 buys, and 11 insider sales for $14.95 million activity. Cowie James J sold 5,036 shares worth $187,376. On Monday, August 28 the insider RIBAR GEOFFREY G sold $563,285. WALL JOHN M also sold $30,510 worth of Cadence Design Systems, Inc. (NASDAQ:CDNS) on Monday, October 9. 50,000 shares were sold by SHOVEN JOHN B, worth $2.25 million. DEVGAN ANIRUDH sold $2.00M worth of Cadence Design Systems, Inc. (NASDAQ:CDNS) on Tuesday, January 16.

Algert Global Llc, which manages about $1.01B and $437.35 million US Long portfolio, decreased its stake in Landstar Sys Inc (NASDAQ:LSTR) by 19,309 shares to 7,475 shares, valued at $745,000 in 2017Q3, according to the filing. It also reduced its holding in Innoviva Inc by 76,286 shares in the quarter, leaving it with 73,990 shares, and cut its stake in Liberty Tax Inc (NASDAQ:TAX).

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By1 Richard Conner

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