Cintas Corporation $CTAS Position Boosted by Mattern Capital Management LLC

Key Points

• Mattern Capital Management LLC increased its stake in Cintas by 13.0% in Q4 to 50,999 shares, valued at about $9.59 million.
• Director Ronald W. Tysoe sold 4,666 shares at an average of $178.87 for roughly $834,607, reducing his holdings to 22,448 shares; insiders collectively own 14.90% of the company.
• Equity analysts show mixed views but a consensus rating of Hold with an average price target of $215.17, alongside several notable upgrades and at least one downgrade.

Mattern Capital Management LLC increased its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 13.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,999 shares of the business services provider's stock after buying an additional 5,879 shares during the quarter. Mattern Capital Management LLC's holdings in Cintas were worth $9,591,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Key Capital Management INC acquired a new stake in Cintas in the fourth quarter worth approximately $28,000. Triumph Capital Management acquired a new stake in Cintas in the third quarter worth approximately $29,000. Alpine Bank Wealth Management lifted its position in Cintas by 1,092.9% in the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock worth $34,000 after purchasing an additional 153 shares during the period. Aventura Private Wealth LLC acquired a new stake in Cintas in the fourth quarter worth approximately $34,000. Finally, WPG Advisers LLC lifted its position in Cintas by 90.0% in the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock worth $35,000 after purchasing an additional 81 shares during the period. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CTAS shares. Weiss Ratings downgraded Cintas from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, April 1st. Robert W. Baird upgraded Cintas from a "neutral" rating to an "outperform" rating and set a $250.00 target price for the company in a research report on Wednesday, March 11th. UBS Group restated a "buy" rating on shares of Cintas in a research report on Thursday, March 12th. Bank of America began coverage on Cintas in a research report on Tuesday, February 17th. They set a "neutral" rating and a $215.00 price objective for the company. Finally, Wells Fargo & Company upgraded Cintas from a "cautious" rating to an "overweight" rating and increased their price objective for the company from $205.00 to $245.00 in a research report on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Cintas has a consensus rating of "Hold" and an average price target of $215.17.

Insider Activity

In other news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $178.87, for a total value of $834,607.42. Following the completion of the sale, the director owned 22,448 shares in the company, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.90% of the stock is owned by insiders.

Cintas Price Performance

CTAS opened at $175.90 on Friday. The stock has a fifty day moving average of $185.31 and a 200-day moving average of $187.78. The firm has a market capitalization of $70.38 billion, a P/E ratio of 49.69, a PEG ratio of 3.13 and a beta of 1.01. Cintas Corporation has a 12-month low of $165.60 and a 12-month high of $229.24. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51.

Cintas (NASDAQ:CTAS - Get Free Report) last released its earnings results on Wednesday, March 25th. The business services provider reported $1.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.82 billion. Cintas had a return on equity of 41.47% and a net margin of 17.57%.The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 earnings per share. Equities analysts forecast that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be issued a $0.45 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.0%. Cintas's dividend payout ratio is presently 50.85%.

Cintas Company Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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