First Mercantile Trust Co. Trims Holdings in Cubic Co. (CUB)
First Mercantile Trust Co. lowered its position in Cubic Co. (NYSE:CUB) by 27.1% in the third quarter, HoldingsChannel.com reports. The fund owned 3,227 shares of the scientific and technical instruments company’s stock after selling 1,200 shares during the period. First Mercantile Trust Co.’s holdings in Cubic were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Cubic in the 2nd quarter worth approximately $340,000. Schwab Charles Investment Management Inc. lifted its position in shares of Cubic by 3.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 219,026 shares of the scientific and technical instruments company’s stock worth $14,062,000 after acquiring an additional 8,121 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of Cubic by 16.5% in the 2nd quarter. Artisan Partners Limited Partnership now owns 342,216 shares of the scientific and technical instruments company’s stock worth $21,970,000 after acquiring an additional 48,417 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Cubic by 35.0% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 71,073 shares of the scientific and technical instruments company’s stock worth $4,563,000 after acquiring an additional 18,426 shares during the period. Finally, MetLife Investment Advisors LLC lifted its position in shares of Cubic by 15.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 12,509 shares of the scientific and technical instruments company’s stock worth $803,000 after acquiring an additional 1,683 shares during the period. Institutional investors own 94.41% of the company’s stock.
In related news, Director David F. Melcher bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was acquired at an average price of $74.50 per share, for a total transaction of $74,500.00. Following the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $149,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.90% of the stock is owned by company insiders.
Cubic stock opened at $68.29 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.87 billion, a P/E ratio of 106.70 and a beta of 1.13. Cubic Co. has a one year low of $52.25 and a one year high of $77.35.
Cubic (NYSE:CUB) last posted its earnings results on Thursday, November 15th. The scientific and technical instruments company reported $0.80 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.07 by ($0.27). The company had revenue of $379.71 million for the quarter, compared to the consensus estimate of $360.27 million. Cubic had a return on equity of 2.79% and a net margin of 0.95%. During the same quarter last year, the business earned $0.49 EPS. On average, equities research analysts forecast that Cubic Co. will post 2.42 EPS for the current fiscal year.
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Cubic Company Profile
Cubic Corporation provides various integrated solutions worldwide. Its solutions enhance the situational understanding for transportation, defense, and training customers, as well as for command, control, communications, computers, intelligence, surveillance, and reconnaissance (C4ISR) customers. The company operates through four segments: Cubic Transportation Systems (CTS), Cubic Global Defense Systems (CGD Systems), Cubic Mission Solutions (CMS), and Cubic Global Defense Services (CGD Services).
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