Bank of New York Mellon Corp raised its stake in Cubic Co. (NYSE:CUB) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 330,849 shares of the scientific and technical instruments company’s stock after buying an additional 4,300 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.22% of Cubic worth $19,503,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Intrepid Capital Management Inc. grew its holdings in Cubic by 7.6% in the 3rd quarter. Intrepid Capital Management Inc. now owns 14,413 shares of the scientific and technical instruments company’s stock valued at $735,000 after buying an additional 1,015 shares in the last quarter. American International Group Inc. grew its holdings in Cubic by 5.8% in the 3rd quarter. American International Group Inc. now owns 19,960 shares of the scientific and technical instruments company’s stock valued at $1,018,000 after buying an additional 1,090 shares in the last quarter. California Public Employees Retirement System grew its holdings in Cubic by 2.9% in the 3rd quarter. California Public Employees Retirement System now owns 48,867 shares of the scientific and technical instruments company’s stock valued at $2,492,000 after buying an additional 1,367 shares in the last quarter. Rhumbline Advisers grew its holdings in Cubic by 2.5% in the 3rd quarter. Rhumbline Advisers now owns 58,685 shares of the scientific and technical instruments company’s stock valued at $2,993,000 after buying an additional 1,436 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Cubic by 3.6% in the 3rd quarter. Legal & General Group Plc now owns 49,903 shares of the scientific and technical instruments company’s stock valued at $2,545,000 after buying an additional 1,745 shares in the last quarter. Institutional investors own 88.76% of the company’s stock.
Several analysts have issued reports on CUB shares. JPMorgan Chase & Co. cut Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 target price for the company. in a report on Monday, November 27th. Raymond James Financial restated an “outperform” rating and issued a $62.00 target price (down from $64.00) on shares of Cubic in a report on Friday, January 19th. TheStreet cut Cubic from a “b-” rating to a “c” rating in a report on Thursday, February 8th. Finally, Zacks Investment Research upgraded Cubic from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $61.00.
Cubic stock opened at $65.50 on Thursday. The firm has a market capitalization of $1,731.38, a price-to-earnings ratio of -98.56 and a beta of 0.98. The company has a current ratio of 1.65, a quick ratio of 1.37 and a debt-to-equity ratio of 0.29. Cubic Co. has a twelve month low of $39.58 and a twelve month high of $66.20.
Cubic (NYSE:CUB) last released its quarterly earnings results on Tuesday, February 6th. The scientific and technical instruments company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.33). The business had revenue of $340.70 million for the quarter, compared to analysts’ expectations of $338.21 million. Cubic had a negative return on equity of 1.27% and a negative net margin of 1.21%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.11) earnings per share. research analysts predict that Cubic Co. will post 1.18 earnings per share for the current year.
The firm also recently declared a Semi-Annual dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, March 1st were issued a dividend of $0.135 per share. This represents a dividend yield of 0.44%. The ex-dividend date of this dividend was Wednesday, February 28th. Cubic’s dividend payout ratio is presently -40.91%.
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Cubic Corporation (Cubic) designs, integrates and operates systems, products and services that provide situational awareness for its customers in the transportation and defense industries. The Company operates in three business segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense (CGD) and Cubic Global Defense Services (CGD Services).
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