Achmea Investment Management B.V. Has $10.56 Million Stake in Cummins Inc. (CMI)
Achmea Investment Management B.V. grew its holdings in shares of Cummins Inc. (NYSE:CMI) by 3.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,857 shares of the company’s stock after buying an additional 1,862 shares during the quarter. Achmea Investment Management B.V.’s holdings in Cummins were worth $10,558,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of CMI. Carroll Financial Associates Inc. raised its position in shares of Cummins by 13.4% in the second quarter. Carroll Financial Associates Inc. now owns 702 shares of the company’s stock valued at $113,000 after purchasing an additional 83 shares during the period. Northwest Investment Counselors LLC bought a new stake in shares of Cummins in the third quarter valued at approximately $132,000. Captrust Financial Advisors bought a new stake in shares of Cummins in the second quarter valued at approximately $137,000. Acrospire Investment Management LLC bought a new stake in shares of Cummins in the second quarter valued at approximately $146,000. Finally, First Interstate Bank raised its position in shares of Cummins by 2.7% in the second quarter. First Interstate Bank now owns 956 shares of the company’s stock valued at $155,000 after purchasing an additional 25 shares during the period. Hedge funds and other institutional investors own 84.48% of the company’s stock.
Cummins Inc. (NYSE:CMI) traded down $2.73 during trading hours on Monday, reaching $160.66. 942,400 shares of the company were exchanged, compared to its average volume of 1,306,229. Cummins Inc. has a 52 week low of $134.06 and a 52 week high of $181.79. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The company has a market cap of $26,664.26, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.29 and a beta of 1.16.
Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, beating the Zacks’ consensus estimate of $2.47 by $0.24. Cummins had a net margin of 8.49% and a return on equity of 21.28%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same period in the prior year, the business posted $2.02 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. research analysts predict that Cummins Inc. will post 10.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $4.32 dividend on an annualized basis and a yield of 2.69%. Cummins’s dividend payout ratio is currently 43.86%.
Several analysts have recently issued reports on CMI shares. Zacks Investment Research raised shares of Cummins from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Monday, October 2nd. Argus boosted their price objective on shares of Cummins from $172.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, November 6th. BMO Capital Markets boosted their price objective on shares of Cummins from $185.00 to $190.00 and gave the company a “market perform” rating in a research note on Wednesday, November 8th. Jefferies Group LLC boosted their price target on shares of Cummins from $165.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Finally, Piper Jaffray Companies set a $170.00 price target on shares of Cummins and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $176.20.
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Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
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