Emerald Mutual Fund Advisers Trust bought a new position in shares of Cubic Corp. (NYSE:CUB) during the second quarter, Holdings Channel reports. The institutional investor bought 7,541 shares of the company’s stock, valued at approximately $303,000.
A number of other large investors have also bought and sold shares of the stock. 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 during the last quarter. Norges Bank purchased 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 during the last quarter. Palisade Capital Management LLC NJ purchased a new stake in shares of Cubic Corp. during the first quarter worth $983,000. Finally, Third Avenue Management LLC boosted its stake in shares of Cubic Corp. by 11.2% in the first quarter. Third Avenue Management LLC now owns 157,327 shares of the company’s stock worth $6,287,000 after buying an additional 15,871 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.
Cubic Corp. (NYSE:CUB) traded up 1.36% on Monday, reaching $46.24. The company had a trading volume of 94,286 shares. The stock has a market capitalization of $1.25 billion, a P/E ratio of 42.89 and a beta of 1.12. The firm has a 50-day moving average of $46.86 and a 200-day moving average of $42.50. Cubic Corp. has a 12 month low of $30.11 and a 12 month high of $49.79.
Cubic Corp. (NYSE:CUB) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.17 EPS 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 company earned $375.20 million during the quarter, compared to analysts’ expectations of $387.41 million. During the same period last year, the business earned $0.33 earnings per share. The company’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, equities research analysts expect that Cubic Corp. will post $0.92 earnings per share for the current fiscal year.
The business also recently disclosed a semiannual dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.135 dividend. This represents a yield of 0.65%. The ex-dividend date of this dividend was Monday, August 29th. Cubic Corp.’s dividend payout ratio (DPR) is presently 24.77%.
CUB has been the subject of a number of research reports. Needham & Company LLC raised Cubic Corp. from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Monday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and issued a $54.00 price objective on shares of Cubic Corp. in a research note on Thursday. Zacks Investment Research raised Cubic Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Cubic Corp. in a research note on Saturday, July 9th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target 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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