Graham Capital Management L.P. Buys 10,800 Shares of Cummins Inc. (NYSE:CMI)

Graham Capital Management L.P. grew its stake in shares of Cummins Inc. (NYSE:CMI) by 245.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,200 shares of the company’s stock after acquiring an additional 10,800 shares during the quarter. Graham Capital Management L.P.’s holdings in Cummins were worth $5,299,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Global Trust Asset Management LLC increased its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock worth $26,000 after buying an additional 28 shares in the last quarter. BankPlus Trust Department purchased a new stake in shares of Cummins during the 4th quarter valued at about $26,000. Compass Financial Services Inc bought a new stake in shares of Cummins in the fourth quarter worth approximately $27,000. Meeder Asset Management Inc. raised its holdings in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock valued at $27,000 after purchasing an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC bought a new position in Cummins during the fourth quarter valued at approximately $28,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Up 0.1 %

Shares of CMI opened at $306.81 on Friday. The business’s 50 day moving average is $304.66 and its 200 day moving average is $341.31. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $387.90. The company has a market capitalization of $42.26 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.19 and a beta of 1.02.

Cummins (NYSE:CMI) last released its quarterly earnings data on Monday, May 5th. The company reported $5.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $1.04. The firm had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $5.08 earnings per share. Research analysts expect that Cummins Inc. will post 22.54 earnings per share for the current fiscal year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, February 21st. Cummins’s payout ratio is 36.22%.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of research reports. Robert W. Baird decreased their target price on shares of Cummins from $407.00 to $315.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped their price objective on Cummins from $308.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday. StockNews.com cut Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Barclays upped their price target on shares of Cummins from $310.00 to $381.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Bank of America raised shares of Cummins from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $354.00 to $358.00 in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $347.69.

Cummins Company 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.