Gamco Investors INC. ET AL Has $548,000 Stake in Cubic Co. (NYSE:CUB)
Gamco Investors INC. ET AL lessened its position in shares of Cubic Co. (NYSE:CUB) by 45.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,500 shares of the scientific and technical instruments company’s stock after selling 6,200 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Cubic were worth $548,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Cubic in the 2nd quarter worth about $340,000. Schwab Charles Investment Management Inc. raised its holdings in 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 purchasing an additional 8,121 shares during the period. Artisan Partners Limited Partnership raised its holdings in 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 purchasing an additional 48,417 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in 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 purchasing an additional 18,426 shares during the period. Finally, MetLife Investment Advisors LLC raised its holdings in 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 purchasing an additional 1,683 shares during the period. Institutional investors and hedge funds own 94.56% of the company’s stock.
NYSE:CUB traded down $0.90 during trading hours on Friday, hitting $55.13. 510,772 shares of the stock were exchanged, compared to its average volume of 386,357. The company has a current ratio of 2.04, a quick ratio of 1.78 and a debt-to-equity ratio of 0.29. The firm has a market cap of $1.53 billion, a P/E ratio of 86.14 and a beta of 1.09. Cubic Co. has a 52-week low of $52.25 and a 52-week high of $77.35.
A number of research firms recently weighed in on CUB. Zacks Investment Research raised Cubic from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. raised Cubic from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $75.00 to $73.00 in a report on Friday, November 30th. Drexel Hamilton set a $85.00 price target on Cubic and gave the stock a “buy” rating in a report on Thursday, November 15th. ValuEngine lowered Cubic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Finally, Needham & Company LLC cut their price objective on Cubic from $80.00 to $77.00 and set a “buy” rating for the company in a research note on Monday, December 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $74.50.
In related news, Director David F. Melcher purchased 1,000 shares of the company’s stock in a transaction dated Friday, September 14th. The stock was acquired at an average cost of $74.50 per share, for a total transaction of $74,500.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at $149,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 7.90% of the stock is owned by corporate insiders.
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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