Morgan Dempsey Capital Management LLC decreased its position in Cubic Corp. (NYSE:CUB) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 48,616 shares of the company’s stock after selling 1,526 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Cubic Corp. were worth $1,952,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of the company. Franklin Resources Inc. boosted its stake in shares of Cubic Corp. by 677.8% in the first quarter. Franklin Resources Inc. now owns 972,200 shares of the company’s stock worth $38,849,000 after buying an additional 847,200 shares in the last quarter. Norges Bank acquired a new stake in shares of Cubic Corp. during the fourth quarter worth $8,174,000. Wellington Management Group LLP boosted its stake in shares of Cubic Corp. by 5.3% in the first quarter. Wellington Management Group LLP now owns 2,123,757 shares of the company’s stock worth $84,865,000 after buying an additional 107,776 shares in the last quarter. Palisade Capital Management LLC NJ acquired a new stake in shares of Cubic Corp. during the first quarter worth $983,000. Finally, Emerald Advisers Inc. PA acquired a new stake in shares of Cubic Corp. during the second quarter worth $666,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Shares of Cubic Corp. (NYSE:CUB) traded down 1.09% during mid-day trading on Thursday, hitting $46.42. 88,590 shares of the company traded hands. Cubic Corp. has a 52-week low of $30.11 and a 52-week high of $49.79. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 43.06 and a beta of 1.12. The firm has a 50-day moving average price of $46.92 and a 200 day moving average price of $42.44.
Cubic Corp. (NYSE:CUB) last released its earnings results on Wednesday, August 3rd. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.12. Cubic Corp. had a net margin of 1.97% and a return on equity of 5.60%. The business had revenue of $375.20 million for the quarter, compared to the consensus estimate of $387.41 million. During the same quarter in the previous year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts anticipate that Cubic Corp. will post $0.92 EPS for the current fiscal year.
The firm also recently announced a semiannual dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a yield of 0.65%. Cubic Corp.’s payout ratio is 24.77%.
Several research firms have recently commented on CUB. Needham & Company LLC upgraded shares of Cubic Corp. from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Monday, August 1st. Canaccord Genuity restated a “buy” rating and issued a $50.00 target price on shares of Cubic Corp. in a research note on Thursday, August 11th. Zacks Investment Research upgraded shares of Cubic Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Cubic Corp. in a research note on Saturday, July 9th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $47.60.
Cubic Corp. Company Profile
Cubic Corporation (Cubic) is an international provider of systems and solutions that address the mass transit and global defense markets. The Company operates through three segments across the global transportation and defense markets, which include Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems) and Cubic Global Defense Services (CGD Services).
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