M&T Bank Corp Has $16.52 Million Holdings in Cintas Corporation $CTAS

M&T Bank Corp grew its stake in shares of Cintas Corporation (NASDAQ:CTAS) by 254.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,855 shares of the business services provider’s stock after acquiring an additional 63,100 shares during the period. M&T Bank Corp’s holdings in Cintas were worth $16,523,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Salomon & Ludwin LLC lifted its position in Cintas by 89.7% during the fourth quarter. Salomon & Ludwin LLC now owns 349 shares of the business services provider’s stock worth $65,000 after acquiring an additional 165 shares during the last quarter. Godsey & Gibb Inc. boosted its position in shares of Cintas by 0.3% in the fourth quarter. Godsey & Gibb Inc. now owns 125,394 shares of the business services provider’s stock valued at $23,583,000 after acquiring an additional 388 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of Cintas by 25.7% in the fourth quarter. TD Waterhouse Canada Inc. now owns 18,840 shares of the business services provider’s stock valued at $3,543,000 after acquiring an additional 3,848 shares during the period. Revisor Wealth Management LLC boosted its position in shares of Cintas by 23.9% in the fourth quarter. Revisor Wealth Management LLC now owns 3,541 shares of the business services provider’s stock valued at $682,000 after acquiring an additional 683 shares during the period. Finally, Clark Asset Management LLC bought a new stake in shares of Cintas in the fourth quarter valued at about $229,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the sale, the director owned 22,448 shares of the company’s stock, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 14.90% of the stock is owned by corporate insiders.

Cintas Trading Up 1.7%

CTAS opened at $177.62 on Friday. Cintas Corporation has a twelve month low of $165.60 and a twelve month high of $229.24. The company has a 50-day simple moving average of $185.66 and a 200 day simple moving average of $187.94. The company has a quick ratio of 1.74, a current ratio of 1.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $71.06 billion, a price-to-earnings ratio of 50.18, a P/E/G ratio of 3.07 and a beta of 1.01.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting the consensus estimate of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the prior year, the business posted $1.13 earnings per share. Cintas’s revenue was up 8.9% compared to the same quarter last year. Analysts predict that Cintas Corporation will post 4.89 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.80 annualized dividend and a yield of 1.0%. Cintas’s dividend payout ratio is currently 50.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research report on Thursday, March 26th. Citigroup reduced their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research report on Tuesday, March 31st. Robert W. Baird raised shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research report on Wednesday, March 11th. Argus upgraded Cintas to a “strong-buy” rating in a research note on Wednesday, January 21st. Finally, Wells Fargo & Company upgraded Cintas from a “cautious” rating to an “overweight” rating and boosted their price target for the company from $205.00 to $245.00 in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Cintas has a consensus rating of “Hold” and a consensus price target of $215.17.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.