First Financial Bank Trust Division Purchases 1,740 Shares of Cintas Co. (NASDAQ:CTAS)

First Financial Bank Trust Division grew its position in Cintas Co. (NASDAQ:CTAS) by 329.5% during the third quarter, HoldingsChannel reports. The firm owned 2,268 shares of the business services provider’s stock after buying an additional 1,740 shares during the period. First Financial Bank Trust Division’s holdings in Cintas were worth $467,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CTAS. Belpointe Asset Management LLC grew its holdings in Cintas by 65.5% during the 4th quarter. Belpointe Asset Management LLC now owns 705 shares of the business services provider’s stock worth $425,000 after acquiring an additional 279 shares during the period. Lake Street Advisors Group LLC acquired a new stake in Cintas during the fourth quarter worth approximately $220,000. Tower Research Capital LLC TRC increased its holdings in Cintas by 87.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 16,505 shares of the business services provider’s stock worth $9,947,000 after purchasing an additional 7,714 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in Cintas by 12.5% in the fourth quarter. Cetera Advisor Networks LLC now owns 8,689 shares of the business services provider’s stock valued at $5,236,000 after buying an additional 964 shares during the period. Finally, 1832 Asset Management L.P. boosted its holdings in shares of Cintas by 4.8% during the 4th quarter. 1832 Asset Management L.P. now owns 15,231 shares of the business services provider’s stock worth $9,179,000 after buying an additional 704 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Price Performance

Cintas stock opened at $205.30 on Thursday. The stock has a market cap of $20.83 billion, a P/E ratio of 14.18, a P/E/G ratio of 4.09 and a beta of 1.32. The company has a quick ratio of 1.52, a current ratio of 1.74 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $209.77 and its two-hundred day moving average price is $185.19. Cintas Co. has a 52 week low of $119.73 and a 52 week high of $211.57.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 37.82% and a net margin of 16.38%. The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the firm earned $3.70 earnings per share. The business’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict that Cintas Co. will post 4.16 earnings per share for the current year.

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 issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s dividend payout ratio (DPR) is presently 10.77%.

Cintas declared that its board has authorized a stock repurchase program on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

CTAS has been the topic of a number of research reports. StockNews.com upgraded shares of Cintas from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Truist Financial upped their price objective on shares of Cintas from $212.50 to $225.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Morgan Stanley raised their target price on Cintas from $170.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. The Goldman Sachs Group boosted their target price on Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company increased their price target on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $199.63.

Insiders Place Their Bets

In other news, Director Gerald S. Adolph sold 4,400 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $191.43, for a total transaction of $842,292.00. Following the completion of the transaction, the director now directly owns 125,808 shares of the company’s stock, valued at approximately $24,083,425.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.10% of the company’s stock.

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.