TMB Capital Partners LLC Makes New $1.46 Million Investment in Cummins Inc. $CMI

TMB Capital Partners LLC acquired a new stake in shares of Cummins Inc. (NYSE:CMI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 2,860 shares of the company’s stock, valued at approximately $1,460,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its position in shares of Cummins by 10,317.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,458,475 shares of the company’s stock worth $1,254,929,000 after acquiring an additional 2,434,876 shares during the last quarter. Norges Bank bought a new stake in Cummins in the 4th quarter valued at $863,441,000. Boston Partners purchased a new stake in Cummins in the 3rd quarter worth $473,471,000. London Co. of Virginia purchased a new stake in Cummins in the 3rd quarter worth $231,732,000. Finally, First Trust Advisors LP boosted its holdings in shares of Cummins by 245.1% during the 4th quarter. First Trust Advisors LP now owns 542,796 shares of the company’s stock valued at $277,071,000 after purchasing an additional 385,525 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Insider Activity at Cummins

In other news, VP Marvin Boakye sold 3,481 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $679.90, for a total value of $2,366,731.90. Following the completion of the sale, the vice president owned 8,508 shares in the company, valued at approximately $5,784,589.20. This trade represents a 29.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald G. Jackson sold 730 shares of Cummins stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $710.92, for a total transaction of $518,971.60. Following the transaction, the vice president directly owned 8,316 shares of the company’s stock, valued at approximately $5,912,010.72. This represents a 8.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 13,579 shares of company stock valued at $9,377,684 over the last three months. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CMI has been the subject of a number of research analyst reports. Zacks Research upgraded Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Raymond James Financial increased their price target on Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. UBS Group restated a “buy” rating on shares of Cummins in a report on Wednesday. Evercore reaffirmed an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a research note on Monday, May 11th. Finally, Argus upped their price objective on Cummins from $696.00 to $770.00 and gave the stock a “buy” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $731.86.

Cummins Trading Down 0.2%

Shares of CMI stock opened at $716.50 on Friday. The company has a market cap of $98.87 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 1.75 and a beta of 1.23. Cummins Inc. has a 1 year low of $307.90 and a 1 year high of $737.76. The stock’s 50 day simple moving average is $660.60 and its two-hundred day simple moving average is $589.80. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11.

Cummins (NYSE:CMI) last announced its earnings results on Tuesday, May 5th. The company reported $6.15 EPS for the quarter, topping analysts’ consensus estimates of $5.63 by $0.52. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.96 EPS. Research analysts predict that Cummins Inc. will post 29.29 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Friday, May 22nd were paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 22nd. Cummins’s payout ratio is presently 41.52%.

Cummins Company 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.