Cummins Inc. (CMI) Shares Sold by Green Square Capital LLC
Green Square Capital LLC cut its stake in shares of Cummins Inc. (NYSE:CMI) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,172 shares of the company’s stock after selling 169 shares during the period. Green Square Capital LLC’s holdings in Cummins were worth $4,292,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of CMI. First Manhattan Co. boosted its stake in Cummins by 8.0% in the second quarter. First Manhattan Co. now owns 957 shares of the company’s stock valued at $107,000 after buying an additional 71 shares during the period. Kanaly Trust Co boosted its stake in Cummins by 3.1% in the second quarter. Kanaly Trust Co now owns 1,114 shares of the company’s stock valued at $125,000 after buying an additional 34 shares during the period. FCM Investments TX boosted its stake in Cummins by 33.3% in the second quarter. FCM Investments TX now owns 1,200 shares of the company’s stock valued at $135,000 after buying an additional 300 shares during the period. Americafirst Capital Management LLC acquired a new stake in Cummins during the second quarter valued at approximately $139,000. Finally, Checchi Capital Advisers LLC boosted its stake in Cummins by 6.8% in the second quarter. Checchi Capital Advisers LLC now owns 1,280 shares of the company’s stock valued at $144,000 after buying an additional 82 shares during the period. Institutional investors own 81.36% of the company’s stock.
Shares of Cummins Inc. (NYSE:CMI) traded up 1.47% on Wednesday, reaching $120.92. The company had a trading volume of 886,372 shares. The firm has a market capitalization of $20.31 billion, a PE ratio of 16.56 and a beta of 1.48. The company’s 50-day moving average is $123.33 and its 200 day moving average is $115.70. Cummins Inc. has a 12 month low of $79.88 and a 12 month high of $127.64.
Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $2.40 EPS for the quarter, beating the Zacks’ consensus estimate of $2.15 by $0.25. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.50 billion. Cummins had a return on equity of 19.48% and a net margin of 6.97%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.62 EPS. Equities analysts forecast that Cummins Inc. will post $8.14 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 22nd were issued a dividend of $0.975 per share. This represents a $3.90 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, August 18th. Cummins’s dividend payout ratio is 55.93%.
CMI has been the subject of several recent analyst reports. Standpoint Research cut Cummins from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Jefferies Group reiterated a “hold” rating and set a $115.00 target price on shares of Cummins in a report on Thursday, July 7th. William Blair set a $110.00 target price on Cummins and gave the stock a “hold” rating in a report on Thursday, September 8th. BMO Capital Markets reiterated a “market perform” rating and set a $114.00 target price on shares of Cummins in a report on Monday, September 12th. Finally, Citigroup Inc. boosted their target price on Cummins from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company. Cummins currently has an average rating of “Hold” and a consensus target price of $104.37.
In other Cummins news, VP Thaddeus B. Ewald sold 820 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $126.95, for a total value of $104,099.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Pat Ward sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $122.50, for a total value of $612,500.00. Following the completion of the sale, the chief financial officer now directly owns 8,024 shares in the company, valued at approximately $982,940. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
Cummins Company Profile
Cummins Inc is a manufacturer of diesel engines. The Company operates through four segments: Engine, Distribution, Components and Power Generation. Its 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, agricultural and governmental equipment markets.
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