Mercuria Capital Strategies LLC Takes $6.86 Million Position in Cummins Inc. $CMI

Mercuria Capital Strategies LLC purchased a new stake in Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 16,230 shares of the company’s stock, valued at approximately $6,855,000. Cummins accounts for approximately 9.0% of Mercuria Capital Strategies LLC’s holdings, making the stock its 5th largest holding.

A number of other large investors have also added to or reduced their stakes in the stock. United Capital Management of KS Inc. raised its holdings in Cummins by 2.0% in the 3rd quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock valued at $485,000 after acquiring an additional 22 shares in the last quarter. Stock Yards Bank & Trust Co. grew its holdings in shares of Cummins by 0.4% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock worth $2,499,000 after purchasing an additional 24 shares in the last quarter. Whittier Trust Co. grew its holdings in shares of Cummins by 0.9% during the 3rd quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock worth $1,154,000 after purchasing an additional 24 shares in the last quarter. Howard Capital Management Inc. increased its position in shares of Cummins by 2.9% in the third quarter. Howard Capital Management Inc. now owns 863 shares of the company’s stock worth $365,000 after purchasing an additional 24 shares during the period. Finally, BNP Paribas increased its position in shares of Cummins by 1.8% in the second quarter. BNP Paribas now owns 1,422 shares of the company’s stock worth $466,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 83.46% of the company’s stock.

Insider Activity at Cummins

In other news, VP Earl Newsome sold 1,300 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the transaction, the vice president directly owned 3,389 shares in the company, valued at approximately $1,978,057.63. This represents a 27.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $600.13, for a total value of $960,208.00. Following the sale, the vice president directly owned 7,214 shares in the company, valued at approximately $4,329,337.82. This trade represents a 18.15% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 31,195 shares of company stock valued at $18,397,489. 0.41% of the stock is owned by company insiders.

Cummins Stock Up 1.9%

CMI stock opened at $549.46 on Tuesday. The firm has a 50-day moving average price of $571.48 and a 200-day moving average price of $492.43. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $617.98. The company has a current ratio of 1.76, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $75.91 billion, a P/E ratio of 26.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Thursday, February 5th. The company reported $5.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.09 billion. Cummins had a net margin of 8.44% and a return on equity of 25.71%. The firm’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 EPS. As a group, equities research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were paid a dividend of $2.00 per share. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s payout ratio is presently 38.99%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CMI shares. Citigroup upped their price objective on shares of Cummins from $580.00 to $630.00 and gave the stock a “buy” rating in a research report on Tuesday, January 13th. UBS Group set a $565.00 target price on shares of Cummins and gave the company a “neutral” rating in a research report on Friday, February 6th. Morgan Stanley reaffirmed an “overweight” rating and set a $675.00 price target on shares of Cummins in a report on Friday, February 6th. Raymond James Financial increased their price target on shares of Cummins from $585.00 to $675.00 and gave the stock an “outperform” rating in a research report on Monday, February 9th. Finally, Barclays lifted their price objective on shares of Cummins from $546.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, January 23rd. Eleven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $588.93.

Cummins Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.