Rodgers Brothers Inc. decreased its holdings in Cubic Co. (NYSE:CUB) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,425 shares of the scientific and technical instruments company’s stock after selling 6,850 shares during the quarter. Rodgers Brothers Inc. owned about 0.15% of Cubic worth $2,383,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also made changes to their positions in CUB. Crossmark Global Holdings Inc. purchased a new stake in Cubic in the third quarter worth $272,000. BNP Paribas Arbitrage SA lifted its position in Cubic by 54.7% during the third quarter. BNP Paribas Arbitrage SA now owns 15,853 shares of the scientific and technical instruments company’s stock valued at $809,000 after buying an additional 5,606 shares during the period. New York State Common Retirement Fund lifted its position in Cubic by 13.5% during the third quarter. New York State Common Retirement Fund now owns 270,511 shares of the scientific and technical instruments company’s stock valued at $13,796,000 after buying an additional 32,093 shares during the period. Municipal Employees Retirement System of Michigan lifted its position in Cubic by 58.9% during the third quarter. Municipal Employees Retirement System of Michigan now owns 9,360 shares of the scientific and technical instruments company’s stock valued at $477,000 after buying an additional 3,470 shares during the period. Finally, Rhumbline Advisers lifted its position in Cubic by 2.5% during the third 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 during the period. 88.74% of the stock is owned by institutional investors.
Cubic Co. (NYSE:CUB) opened at $65.30 on Wednesday. Cubic Co. has a twelve month low of $39.58 and a twelve month high of $65.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.37 and a current ratio of 1.65.
The business 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. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a dividend yield of 0.44%. Cubic’s payout ratio is presently -40.91%.
CUB has been the subject of several recent research reports. Zacks Investment Research lowered Cubic from a “hold” rating to a “strong sell” rating in a research report on Monday, November 20th. JPMorgan Chase & Co. lowered Cubic from an “overweight” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research report on Monday, November 27th. Raymond James Financial reissued an “outperform” rating and set a $62.00 price objective (down previously from $64.00) on shares of Cubic in a research report on Friday, January 19th. Canaccord Genuity reissued a “buy” rating and set a $64.00 price objective (up previously from $55.00) on shares of Cubic in a research report on Tuesday, November 21st. Finally, Needham & Company LLC raised their price objective on Cubic from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, November 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.00.
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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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