Entropy Technologies LP Purchases Shares of 10,968 Cintas Corporation (NASDAQ:CTAS)

Entropy Technologies LP purchased a new stake in Cintas Corporation (NASDAQ:CTAS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,968 shares of the business services provider’s stock, valued at approximately $2,254,000.

Other large investors also recently made changes to their positions in the company. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Cintas by 646.4% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 209 shares of the business services provider’s stock worth $43,000 after acquiring an additional 181 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of Cintas in the 1st quarter worth approximately $46,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Cintas in the 1st quarter worth approximately $46,000. Wellington Shields & Co. LLC acquired a new stake in shares of Cintas in the 1st quarter worth approximately $51,000. Finally, Olde Wealth Management LLC acquired a new stake in shares of Cintas in the 1st quarter worth approximately $55,000. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Cintas stock opened at $226.27 on Monday. The firm’s 50 day simple moving average is $221.38 and its 200-day simple moving average is $211.44. The company has a market cap of $91.18 billion, a P/E ratio of 51.31, a price-to-earnings-growth ratio of 3.90 and a beta of 1.03. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.09 and a quick ratio of 1.82. Cintas Corporation has a fifty-two week low of $180.78 and a fifty-two week high of $229.24.

Cintas (NASDAQ:CTAS) last released its earnings results on Thursday, July 17th. The business services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $2.67 billion for the quarter, compared to the consensus estimate of $2.63 billion. Cintas had a net margin of 17.53% and a return on equity of 41.21%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $3.99 earnings per share. As a group, equities research analysts predict that Cintas Corporation will post 4.31 EPS for the current year.

Cintas Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. This is a positive change from Cintas’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 15th. Cintas’s payout ratio is currently 35.37%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CTAS shares. Wells Fargo & Company raised shares of Cintas from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $196.00 to $221.00 in a research note on Tuesday, July 1st. UBS Group lifted their price objective on shares of Cintas from $240.00 to $255.00 and gave the stock a “buy” rating in a research note on Friday, July 18th. Argus raised shares of Cintas to a “strong-buy” rating in a research note on Wednesday, April 16th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $240.00 price objective (up previously from $215.00) on shares of Cintas in a research note on Monday, June 9th. Finally, Redburn Atlantic cut shares of Cintas from a “neutral” rating to a “sell” rating and set a $171.00 price objective on the stock. in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cintas currently has an average rating of “Hold” and a consensus price target of $224.54.

Insider Transactions at Cintas

In other news, CEO Todd M. Schneider sold 17,301 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $220.90, for a total value of $3,821,790.90. Following the completion of the sale, the chief executive officer directly owned 622,712 shares of the company’s stock, valued at $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Martin Mucci purchased 1,200 shares of Cintas stock in a transaction dated Monday, July 21st. The stock was bought at an average cost of $222.55 per share, with a total value of $267,060.00. Following the completion of the transaction, the director directly owned 2,621 shares of the company’s stock, valued at $583,303.55. This represents a 84.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. 15.00% of the stock is owned by insiders.

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.