UBS Asset Management Americas Inc. increased its holdings in shares of Cubic Co. (NYSE:CUB) by 167.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,858 shares of the scientific and technical instruments company’s stock after acquiring an additional 8,059 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Cubic were worth $758,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of CUB. Bank of New York Mellon Corp boosted its holdings in Cubic by 1.3% in the 4th quarter. Bank of New York Mellon Corp now owns 330,849 shares of the scientific and technical instruments company’s stock valued at $19,503,000 after purchasing an additional 4,300 shares during the last quarter. Rhumbline Advisers boosted its holdings in Cubic by 10.0% in the 4th quarter. Rhumbline Advisers now owns 64,541 shares of the scientific and technical instruments company’s stock valued at $3,805,000 after purchasing an additional 5,856 shares during the last quarter. Suffolk Capital Management LLC acquired a new position in Cubic in the 4th quarter valued at about $1,009,000. Arizona State Retirement System boosted its holdings in Cubic by 223.9% in the 4th quarter. Arizona State Retirement System now owns 42,071 shares of the scientific and technical instruments company’s stock valued at $2,480,000 after purchasing an additional 29,083 shares during the last quarter. Finally, Pinebridge Investments L.P. boosted its holdings in Cubic by 29.7% in the 4th quarter. Pinebridge Investments L.P. now owns 42,476 shares of the scientific and technical instruments company’s stock valued at $2,504,000 after purchasing an additional 9,725 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.
Cubic Co. (NYSE CUB) opened at $62.80 on Monday. The company has a quick ratio of 1.37, a current ratio of 1.65 and a debt-to-equity ratio of 0.29. Cubic Co. has a fifty-two week low of $39.58 and a fifty-two week high of $66.20. The company has a market cap of $1,709.60, a P/E ratio of -95.15 and a beta of 0.98.
The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, March 12th. Stockholders of record on Thursday, March 1st were issued a $0.135 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a dividend yield of 0.44%. Cubic’s dividend payout ratio is currently -40.91%.
Several equities analysts have weighed in on CUB shares. Raymond James Financial reiterated 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. JPMorgan Chase & Co. lowered shares of Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 target price on the stock. in a report on Monday, November 27th. TheStreet lowered shares of Cubic from a “b-” rating to a “c” rating in a report on Thursday, February 8th. Finally, Zacks Investment Research upgraded shares of 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 given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $61.00.
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Cubic Company Profile
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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