Cortina Asset Management LLC trimmed its stake in shares of Cubic Co. (NYSE:CUB) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,550 shares of the scientific and technical instruments company’s stock after selling 2,000 shares during the quarter. Cortina Asset Management LLC owned approximately 0.65% of Cubic worth $13,060,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in CUB. Parallel Advisors LLC purchased a new stake in Cubic during the first quarter worth about $39,000. Penserra Capital Management LLC increased its holdings in Cubic by 50.0% during the first quarter. Penserra Capital Management LLC now owns 822 shares of the scientific and technical instruments company’s stock worth $46,000 after buying an additional 274 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Cubic by 21.7% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,731 shares of the scientific and technical instruments company’s stock worth $97,000 after buying an additional 309 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cubic by 32.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,389 shares of the scientific and technical instruments company’s stock worth $134,000 after buying an additional 583 shares during the last quarter. Finally, Amalgamated Bank purchased a new stake in Cubic during the fourth quarter worth about $212,000. Institutional investors and hedge funds own 94.68% of the company’s stock.
NYSE:CUB traded down $0.75 on Tuesday, reaching $66.66. 525,082 shares of the company’s stock were exchanged, compared to its average volume of 256,292. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.12 and a current ratio of 1.35. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 104.16 and a beta of 1.19. Cubic Co. has a 52 week low of $50.61 and a 52 week high of $77.35. The company has a fifty day moving average of $63.76.
Cubic (NYSE:CUB) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.44. The firm had revenue of $337.30 million during the quarter, compared to analyst estimates of $326.88 million. Cubic had a net margin of 0.62% and a return on equity of 3.44%. The company’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.12) earnings per share. On average, equities analysts predict that Cubic Co. will post 3.27 EPS for the current fiscal year.
In other news, Director Edwin A. Guiles acquired 2,716 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $59.80 per share, for a total transaction of $162,416.80. Following the completion of the transaction, the director now owns 14,022 shares of the company’s stock, valued at $838,515.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John H. Warner, Jr. acquired 2,500 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was purchased at an average price of $59.50 per share, with a total value of $148,750.00. The disclosure for this purchase can be found here. Insiders bought 12,371 shares of company stock valued at $742,609 over the last 90 days. 0.51% of the stock is owned by company insiders.
A number of analysts recently issued reports on CUB shares. Canaccord Genuity restated a “buy” rating on shares of ProMetic Life Sciences in a report on Friday, April 5th. ValuEngine upgraded shares of ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Raymond James reiterated a “neutral” rating and set a $35.00 target price on shares of Stantec in a research report on Monday, May 13th. Finally, Zacks Investment Research upgraded shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $73.72.
Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through three segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD), and Cubic Mission Solutions (CMS).
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