Amalgamated Bank Has $12.94 Million Stock Holdings in Cintas Co. (NASDAQ:CTAS)

Amalgamated Bank lowered its stake in Cintas Co. (NASDAQ:CTAS) by 0.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,482 shares of the business services provider’s stock after selling 148 shares during the period. Amalgamated Bank’s holdings in Cintas were worth $12,942,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. LGT Financial Advisors LLC grew its position in shares of Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the last quarter. Atwood & Palmer Inc. bought a new stake in Cintas in the 2nd quarter valued at $27,000. Pathway Financial Advisers LLC acquired a new position in Cintas in the 1st quarter valued at $29,000. Rise Advisors LLC bought a new position in Cintas during the 1st quarter worth $30,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Cintas by 226.7% during the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock worth $34,000 after buying an additional 34 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Trading Down 1.2 %

Shares of CTAS opened at $201.38 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.52 and a current ratio of 1.74. Cintas Co. has a 52-week low of $118.68 and a 52-week high of $209.12. The firm has a market cap of $20.43 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 4.36 and a beta of 1.32. The business’s fifty day moving average is $205.79 and its 200-day moving average is $181.82.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Thursday, July 18th. The business services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.47 billion. Cintas had a return on equity of 37.82% and a net margin of 16.38%. Cintas’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.83 earnings per share. Equities analysts anticipate that Cintas Co. will post 16.64 EPS for the current fiscal year.

Cintas announced that its board has approved a stock repurchase program on Tuesday, July 23rd that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the business services provider to purchase up to 1.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Cintas Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, August 15th. Cintas’s dividend payout ratio is 10.77%.

Insider Buying and Selling

In other Cintas news, Director Gerald S. Adolph sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total value of $842,292.00. Following the sale, the director now owns 125,808 shares in the company, valued at $24,083,425.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 15.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CTAS has been the topic of several research reports. Citigroup downgraded shares of Cintas from a “neutral” rating to a “sell” rating and upped their price target for the company from $132.50 to $142.50 in a research note on Friday, May 24th. UBS Group raised their target price on shares of Cintas from $197.50 to $218.50 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Baird R W downgraded Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Barclays dropped their price objective on Cintas from $850.00 to $210.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $186.30.

Cintas Company Profile

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.