Cummins Inc. (CMI) Holdings Trimmed by Uniplan Investment Counsel Inc.
Uniplan Investment Counsel Inc. cut its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 94,133 shares of the company’s stock after selling 411 shares during the period. Uniplan Investment Counsel Inc. owned about 0.06% of Cummins worth $15,817,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMI. Good Life Advisors LLC increased its holdings in shares of Cummins by 0.6% during the second quarter. Good Life Advisors LLC now owns 1,481 shares of the company’s stock worth $243,000 after buying an additional 9 shares in the last quarter. Northwest Quadrant Wealth Management LLC increased its holdings in shares of Cummins by 0.5% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 2,251 shares of the company’s stock worth $360,000 after buying an additional 11 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Cummins by 1.1% during the second quarter. Bessemer Group Inc. now owns 1,148 shares of the company’s stock worth $187,000 after buying an additional 12 shares in the last quarter. Texas Yale Capital Corp. increased its holdings in shares of Cummins by 1.3% during the second quarter. Texas Yale Capital Corp. now owns 2,016 shares of the company’s stock worth $327,000 after buying an additional 25 shares in the last quarter. Finally, First Interstate Bank increased its holdings in 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 82.50% of the company’s stock.
Cummins Inc. (CMI) traded down $0.12 during trading on Wednesday, reaching $164.84. 1,147,300 shares of the company were exchanged, compared to its average volume of 1,312,233. Cummins Inc. has a fifty-two week low of $134.06 and a fifty-two week high of $181.79. The stock has a market cap of $27,378.00, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03.
Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. During the same period last year, the firm earned $2.02 EPS. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. equities research analysts anticipate that Cummins Inc. will post 10.19 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, November 16th. Cummins’s payout ratio is 43.86%.
A number of research firms recently weighed in on CMI. Stifel Nicolaus restated a “hold” rating and issued a $168.00 price objective (up from $160.00) on shares of Cummins in a report on Tuesday, August 8th. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Monday, October 2nd. ValuEngine downgraded Cummins from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. Citigroup increased their price objective on shares of Cummins from $175.00 to $183.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, Robert W. Baird reissued a “sell” rating and set a $153.00 price objective on shares of Cummins in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $175.49.
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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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