Mattern Capital Management LLC Has $9.29 Million Stake in Cintas Corporation (NASDAQ:CTAS)

Mattern Capital Management LLC decreased its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,174 shares of the business services provider's stock after selling 4,121 shares during the quarter. Mattern Capital Management LLC's holdings in Cintas were worth $9,285,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new position in Cintas in the 4th quarter valued at $29,000. IAG Wealth Partners LLC raised its position in Cintas by 136.8% in the 4th quarter. IAG Wealth Partners LLC now owns 180 shares of the business services provider's stock valued at $33,000 after purchasing an additional 104 shares during the last quarter. Meeder Asset Management Inc. raised its position in Cintas by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 190 shares of the business services provider's stock valued at $35,000 after purchasing an additional 134 shares during the last quarter. OFI Invest Asset Management bought a new position in Cintas in the 4th quarter valued at $37,000. Finally, VSM Wealth Advisory LLC bought a new position in Cintas in the 4th quarter valued at $40,000. Institutional investors own 63.46% of the company's stock.

Insider Activity at Cintas

In other Cintas news, COO Jim Rozakis sold 2,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $190.37, for a total value of $380,740.00. Following the completion of the sale, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronald W. Tysoe sold 8,521 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $208.96, for a total value of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares of the company's stock, valued at $5,647,979.84. This trade represents a 23.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Redburn Atlantic downgraded Cintas from a "neutral" rating to a "sell" rating and set a $171.00 price objective for the company. in a research report on Thursday, May 1st. Bank of America initiated coverage on Cintas in a research report on Thursday, April 10th. They set a "buy" rating and a $250.00 target price for the company. Wells Fargo & Company boosted their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. Morgan Stanley boosted their target price on Cintas from $195.00 to $213.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Finally, Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $215.81.

Cintas Trading Up 1.0%

NASDAQ CTAS opened at $223.20 on Wednesday. The stock has a 50-day simple moving average of $217.76 and a 200 day simple moving average of $205.42. The company has a market capitalization of $90.13 billion, a PE ratio of 51.70, a P/E/G ratio of 3.45 and a beta of 1.07. The company has a current ratio of 1.72, a quick ratio of 1.50 and a debt-to-equity ratio of 0.44. Cintas Corporation has a 12 month low of $172.20 and a 12 month high of $229.24.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.08. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 41.30% and a net margin of 17.53%. The firm's revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.84 earnings per share. Research analysts forecast that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Thursday, May 15th were issued a $0.39 dividend. The ex-dividend date was Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.70%. Cintas's dividend payout ratio is presently 36.11%.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.