Mattern Capital Management LLC Has $10.09 Million Position in Cintas Corporation $CTAS

Mattern Capital Management LLC boosted its position in shares of Cintas Corporation (NASDAQ:CTAS) by 0.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,286 shares of the business services provider’s stock after purchasing an additional 112 shares during the quarter. Cintas accounts for about 1.2% of Mattern Capital Management LLC’s investment portfolio, making the stock its 26th biggest holding. Mattern Capital Management LLC’s holdings in Cintas were worth $10,093,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Cintas by 1.3% in the first quarter. Vanguard Group Inc. now owns 37,859,304 shares of the business services provider’s stock valued at $7,781,223,000 after buying an additional 491,307 shares during the period. Nuveen LLC acquired a new position in shares of Cintas in the first quarter valued at approximately $1,877,760,000. Northern Trust Corp boosted its holdings in shares of Cintas by 0.7% in the first quarter. Northern Trust Corp now owns 4,095,506 shares of the business services provider’s stock valued at $841,749,000 after buying an additional 28,469 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cintas by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,877,309 shares of the business services provider’s stock valued at $591,373,000 after buying an additional 59,162 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Cintas by 17.4% in the first quarter. Ameriprise Financial Inc. now owns 2,615,330 shares of the business services provider’s stock valued at $538,303,000 after buying an additional 386,721 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Insiders Place Their Bets

In other Cintas news, CEO Todd M. Schneider sold 17,301 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $220.90, for a total transaction of $3,821,790.90. Following the sale, the chief executive officer directly owned 622,712 shares of the company’s stock, valued at approximately $137,557,080.80. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martin Mucci purchased 1,200 shares of the company’s stock in a transaction on Monday, July 21st. The shares were purchased at an average cost of $222.55 per share, for a total transaction of $267,060.00. Following the completion of the transaction, the director directly owned 2,621 shares of the company’s stock, valued at approximately $583,303.55. This represents a 84.45% increase in their position. The disclosure for this purchase can be found here. Insiders own 14.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Cintas from $221.00 to $218.00 and set an “equal weight” rating for the company in a report on Thursday, September 25th. Citigroup upped their price target on shares of Cintas from $172.00 to $176.00 and gave the company a “sell” rating in a report on Friday, September 26th. The Goldman Sachs Group upped their price target on shares of Cintas from $233.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Royal Bank Of Canada cut their price objective on shares of Cintas from $240.00 to $206.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 25th. Finally, Morgan Stanley boosted their price objective on shares of Cintas from $213.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $222.09.

Cintas Stock Performance

Shares of CTAS stock opened at $202.91 on Friday. The company has a quick ratio of 1.94, a current ratio of 2.24 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $211.42 and its 200-day simple moving average is $212.93. Cintas Corporation has a 12 month low of $180.78 and a 12 month high of $229.24. The firm has a market cap of $81.77 billion, a PE ratio of 46.01, a P/E/G ratio of 3.52 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings results on Wednesday, September 24th. The business services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.01. Cintas had a net margin of 17.54% and a return on equity of 40.41%. The firm had revenue of $2.72 billion for the quarter, compared to analyst estimates of $2.70 billion. During the same period in the prior year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Cintas has set its FY 2026 guidance at 4.740-4.86 EPS. Equities research analysts expect that Cintas Corporation will post 4.31 EPS for the current fiscal year.

Cintas Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.9%. This is an increase from Cintas’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, August 15th. Cintas’s payout ratio is currently 40.82%.

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.