Adams Asset Advisors LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI – Free Report) by 16.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,281 shares of the company’s stock after selling 5,561 shares during the quarter. Cummins accounts for 1.3% of Adams Asset Advisors LLC’s holdings, making the stock its 21st biggest position. Adams Asset Advisors LLC’s holdings in Cummins were worth $10,207,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of CMI. Prospera Private Wealth LLC acquired a new position in Cummins during the third quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Cummins in the third quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in Cummins during the third quarter worth $55,000. Bangor Savings Bank lifted its stake in Cummins by 24.6% in the fourth quarter. Bangor Savings Bank now owns 177 shares of the company’s stock valued at $62,000 after acquiring an additional 35 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Cummins in the 2nd quarter valued at about $67,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Cummins
In related news, VP Sharon R. Barner sold 162 shares of Cummins stock in a transaction on Friday, November 8th. The shares were sold at an average price of $357.04, for a total transaction of $57,840.48. Following the completion of the transaction, the vice president now owns 20,803 shares of the company’s stock, valued at $7,427,503.12. This trade represents a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 6,489 shares of company stock worth $2,357,531. Insiders own 0.56% of the company’s stock.
Analyst Ratings Changes
Read Our Latest Research Report on CMI
Cummins Price Performance
Shares of NYSE CMI traded up $3.56 during midday trading on Monday, reaching $358.44. 285,018 shares of the company were exchanged, compared to its average volume of 529,515. The company has a quick ratio of 0.79, a current ratio of 1.32 and a debt-to-equity ratio of 0.43. Cummins Inc. has a one year low of $226.52 and a one year high of $387.90. The stock has a market cap of $49.17 billion, a P/E ratio of 23.68, a PEG ratio of 1.80 and a beta of 1.01. The stock’s 50-day moving average price is $361.92 and its 200-day moving average price is $325.03.
Cummins (NYSE:CMI – Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported $5.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $0.97. Cummins had a return on equity of 26.86% and a net margin of 6.13%. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.29 billion. During the same quarter in the prior year, the firm posted $4.73 earnings per share. The firm’s revenue was up .3% compared to the same quarter last year. On average, sell-side analysts anticipate that Cummins Inc. will post 20.75 earnings per share for the current fiscal year.
Cummins Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Friday, November 22nd were issued a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.03%. The ex-dividend date was Friday, November 22nd. Cummins’s payout ratio is presently 48.08%.
Cummins Profile
Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and Accelera. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers parts and services, as well as remanufactured parts and engines.
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