Cummins Inc. (CMI) Shares Bought by Birmingham Capital Management Co. Inc. AL

Cummins Inc. (CMI) Shares Bought by Birmingham Capital Management Co. Inc. AL

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMI. Pinnacle Bank purchased a new position in Cummins during the first quarter valued at $105,000. Itau Unibanco Holding S.A. purchased a new position in Cummins during the third quarter valued at $114,000. Cohen Capital Management Inc. purchased a new position in Cummins during the first quarter valued at $121,000. First Manhattan Co. increased its position in Cummins by 4.2% in the first quarter. First Manhattan Co. now owns 997 shares of the company’s stock valued at $127,000 after buying an additional 40 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Cummins by 851.0% in the fourth quarter. Bessemer Group Inc. now owns 951 shares of the company’s stock valued at $130,000 after buying an additional 851 shares during the last quarter. Institutional investors own 80.81% of the company’s stock.

Birmingham Capital Management Co. Inc. AL boosted its stake in Cummins Inc. (NYSE:CMI) by 0.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,480 shares of the company’s stock after buying an additional 2 shares during the period. Cummins makes up about 1.7% of Birmingham Capital Management Co. Inc. AL’s holdings, making the stock its 24th largest position. Birmingham Capital Management Co. Inc. AL’s holdings in Cummins were worth $4,155,000 as of its most recent SEC filing.

Shares of Cummins Inc. (NYSE:CMI) opened at 156.3072 on Tuesday. Cummins Inc. has a 12-month low of $105.33 and a 12-month high of $163.36. The firm has a 50 day moving average price of $152.88 and a 200 day moving average price of $147.09. The stock has a market cap of $26.15 billion, a PE ratio of 17.9190 and a beta of 1.27.

Cummins (NYSE:CMI) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $2.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.55. Cummins had a return on equity of 19.99% and a net margin of 7.96%. The business had revenue of $4.59 billion during the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. Cummins’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts expect that Cummins Inc. will post $7.98 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 19th will be issued a dividend of $1.025 per share. This represents a $4.10 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, May 17th. Cummins’s dividend payout ratio is presently 49.76%.

CMI has been the subject of several research reports. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $167.00 price target for the company in a research note on Wednesday, April 12th. Credit Suisse Group AG reiterated a “buy” rating and set a $173.00 price target on shares of Cummins in a research note on Friday, February 10th. Barclays PLC increased their price objective on Cummins from $137.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 19th. Royal Bank of Canada reissued a “hold” rating and set a $140.00 price objective on shares of Cummins in a report on Wednesday, March 22nd. Finally, Vetr cut Cummins from a “buy” rating to a “hold” rating and set a $153.33 price objective on the stock. in a report on Thursday, February 9th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. Cummins has an average rating of “Hold” and a consensus price target of $149.46.

In other news, insider Tony Satterthwaite sold 4,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $151.03, for a total value of $604,120.00. Following the completion of the transaction, the insider now owns 41,902 shares of the company’s stock, valued at $6,328,459.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven M. Chapman sold 6,540 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $163.00, for a total value of $1,066,020.00. Following the completion of the transaction, the insider now directly owns 17,042 shares of the company’s stock, valued at approximately $2,777,846. The disclosure for this sale can be found here. Insiders have sold 35,840 shares of company stock valued at $5,789,048 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

About Cummins

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “CMI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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