Fruth Investment Management Increases Stock Position in Cintas Co. (NASDAQ:CTAS)

Fruth Investment Management increased its position in Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,564 shares of the business services provider’s stock after purchasing an additional 13,173 shares during the quarter. Fruth Investment Management’s holdings in Cintas were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CTAS. Syon Capital LLC boosted its stake in shares of Cintas by 16.1% in the fourth quarter. Syon Capital LLC now owns 685 shares of the business services provider’s stock valued at $413,000 after purchasing an additional 95 shares during the period. B. Riley Wealth Advisors Inc. boosted its stake in shares of Cintas by 12.6% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 520 shares of the business services provider’s stock valued at $313,000 after purchasing an additional 58 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Cintas in the fourth quarter valued at $3,509,000. HighPoint Advisor Group LLC purchased a new position in shares of Cintas in the fourth quarter valued at $343,000. Finally, Nomura Holdings Inc. boosted its stake in shares of Cintas by 26.4% in the fourth quarter. Nomura Holdings Inc. now owns 1,734 shares of the business services provider’s stock valued at $1,045,000 after purchasing an additional 362 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on CTAS. Stifel Nicolaus increased their price objective on shares of Cintas from $166.75 to $199.50 and gave the company a “hold” rating in a research note on Friday, July 19th. UBS Group increased their price objective on shares of Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. The Goldman Sachs Group raised their price target on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Baird R W downgraded shares of Cintas from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 19th. Finally, Robert W. Baird raised their price target on shares of Cintas from $194.00 to $209.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $199.63.

Cintas Stock Up 1.7 %

Cintas stock opened at $211.50 on Tuesday. The stock has a market cap of $21.46 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. The company has a current ratio of 1.53, a quick ratio of 1.33 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $212.54 and its two-hundred day moving average price is $187.92. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $212.22.

Cintas (NASDAQ:CTAS) last announced its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.10. The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.70 EPS. On average, analysts expect that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th were paid a $0.39 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.56 annualized dividend and a dividend yield of 0.74%. Cintas’s dividend payout ratio is currently 10.77%.

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

Insider Transactions at Cintas

In other news, Director Gerald S. Adolph sold 4,400 shares of Cintas 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 transaction, the director now owns 125,808 shares of the company’s stock, valued at $24,083,425.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 15.10% of the company’s stock.

Cintas 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.