SG Americas Securities LLC lessened its stake in Cummins Inc. (NYSE:CMI – Get Rating) by 93.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 437 shares of the company’s stock after selling 6,628 shares during the quarter. SG Americas Securities LLC’s holdings in Cummins were worth $106,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Synovus Financial Corp increased its position in shares of Cummins by 254.4% in the 1st quarter. Synovus Financial Corp now owns 6,099 shares of the company’s stock worth $1,242,000 after purchasing an additional 4,378 shares during the last quarter. Cibc World Market Inc. increased its holdings in Cummins by 65.4% in the first quarter. Cibc World Market Inc. now owns 18,194 shares of the company’s stock valued at $3,732,000 after buying an additional 7,191 shares during the last quarter. Sei Investments Co. raised its stake in Cummins by 16.1% during the first quarter. Sei Investments Co. now owns 94,391 shares of the company’s stock valued at $19,282,000 after buying an additional 13,058 shares in the last quarter. Prudential PLC acquired a new stake in Cummins during the first quarter valued at approximately $711,000. Finally, Cetera Investment Advisers grew its position in shares of Cummins by 43.0% in the 1st quarter. Cetera Investment Advisers now owns 6,403 shares of the company’s stock worth $1,313,000 after acquiring an additional 1,925 shares in the last quarter. 80.94% of the stock is owned by institutional investors and hedge funds.
In other Cummins news, VP Walter J. Fier sold 3,307 shares of Cummins stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total transaction of $836,637.93. Following the transaction, the vice president now owns 8,090 shares of the company’s stock, valued at approximately $2,046,689.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP Walter J. Fier sold 3,307 shares of Cummins stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $252.99, for a total transaction of $836,637.93. Following the completion of the sale, the vice president now owns 8,090 shares of the company’s stock, valued at $2,046,689.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sharon R. Barner sold 5,929 shares of the company’s stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $257.13, for a total value of $1,524,523.77. Following the completion of the transaction, the vice president now directly owns 16,144 shares in the company, valued at $4,151,106.72. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.
Wall Street Analyst Weigh In
Cummins Price Performance
NYSE CMI opened at $212.63 on Wednesday. Cummins Inc. has a 12 month low of $184.27 and a 12 month high of $261.91. The firm has a market capitalization of $30.10 billion, a PE ratio of 11.99, a P/E/G ratio of 1.27 and a beta of 1.00. The company’s 50 day simple moving average is $229.92 and its 200 day simple moving average is $240.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.29 and a quick ratio of 0.80.
Cummins (NYSE:CMI – Get Rating) last announced its quarterly earnings data on Tuesday, May 2nd. The company reported $5.55 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.85. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.13 billion. Cummins had a return on equity of 25.94% and a net margin of 8.37%. The company’s revenue was up 32.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.04 earnings per share. As a group, equities research analysts forecast that Cummins Inc. will post 19.55 EPS for the current fiscal year.
Cummins Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be paid a dividend of $1.57 per share. This represents a $6.28 annualized dividend and a yield of 2.95%. The ex-dividend date is Thursday, May 18th. Cummins’s dividend payout ratio (DPR) is currently 35.40%.
Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.
- Get a free copy of the StockNews.com research report on Cummins (CMI)
- How to Calculate Stock Growth
- 7 Best Retail Stocks to Invest in
- 3 Home Improvement Stocks to Renovate Your Portfolio
- Beam Global Shines Brightly in the EV Infrastructure Space
- Canoo Bottoms As Production Ramp Gets Closer
Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI – Get Rating).
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.