Pensionfund Sabic Purchases Shares of 3,800 Cummins Inc. $CMI

Pensionfund Sabic purchased a new position in Cummins Inc. (NYSE:CMI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,800 shares of the company’s stock, valued at approximately $1,940,000.

Several other institutional investors and hedge funds have also made changes to their positions in CMI. JGP Wealth Management LLC lifted its stake in Cummins by 2.2% during the 4th quarter. JGP Wealth Management LLC now owns 4,224 shares of the company’s stock valued at $2,156,000 after acquiring an additional 91 shares during the period. Sunflower Bank N.A. purchased a new position in shares of Cummins during the fourth quarter worth $246,000. Clear Trail Advisors LLC purchased a new position in shares of Cummins during the fourth quarter worth $445,000. SG Americas Securities LLC lifted its position in Cummins by 21,753.3% during the fourth quarter. SG Americas Securities LLC now owns 205,858 shares of the company’s stock valued at $105,080,000 after purchasing an additional 204,916 shares during the period. Finally, Park Place Capital Corp lifted its position in Cummins by 166.0% during the fourth quarter. Park Place Capital Corp now owns 250 shares of the company’s stock valued at $128,000 after purchasing an additional 156 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Up 1.0%

Shares of Cummins stock opened at $553.80 on Wednesday. The firm has a 50-day simple moving average of $573.30 and a two-hundred day simple moving average of $503.75. The company has a market cap of $76.51 billion, a P/E ratio of 26.99, a price-to-earnings-growth ratio of 1.74 and a beta of 1.12. Cummins Inc. has a fifty-two week low of $260.02 and a fifty-two week high of $617.98. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.76.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating analysts’ consensus estimates of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm had revenue of $8.54 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same period last year, the firm earned $5.16 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a dividend of $2.00 per share. The ex-dividend date was Friday, February 20th. This represents a $8.00 dividend on an annualized basis and a yield of 1.4%. Cummins’s dividend payout ratio is currently 38.99%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CMI shares. Wolfe Research downgraded Cummins from an “outperform” rating to a “peer perform” rating and set a $540.00 price target on the stock. in a research report on Monday, January 26th. Truist Financial restated a “buy” rating and issued a $703.00 target price (up from $653.00) on shares of Cummins in a research note on Friday, February 6th. UBS Group set a $565.00 target price on Cummins and gave the stock a “neutral” rating in a report on Friday, February 6th. Robert W. Baird set a $580.00 price target on Cummins in a research report on Friday, February 6th. Finally, Zacks Research downgraded Cummins from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 28th. Eleven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $588.93.

Insider Buying and Selling

In other Cummins news, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the sale, the vice president directly owned 7,214 shares of the company’s stock, valued at approximately $4,329,337.82. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Amy Rochelle Davis sold 4,054 shares of the business’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $561.34, for a total value of $2,275,672.36. Following the completion of the sale, the vice president owned 15,807 shares of the company’s stock, valued at $8,873,101.38. This trade represents a 20.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 31,195 shares of company stock valued at $18,397,489 in the last 90 days. Corporate insiders own 0.41% of the company’s stock.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.