Staley Capital Advisers Inc. Reduces Position in Cummins Inc. (CMI)

Staley Capital Advisers Inc. trimmed its position in Cummins Inc. (NYSE:CMI) by 64.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,430 shares of the company’s stock after selling 4,345 shares during the quarter. Staley Capital Advisers Inc.’s holdings in Cummins were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System grew its position in shares of Cummins by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 229,821 shares of the company’s stock worth $38,617,000 after buying an additional 3,700 shares during the period. AJO LP boosted its stake in Cummins by 11,096.3% in the 2nd quarter. AJO LP now owns 1,149,856 shares of the company’s stock worth $186,530,000 after purchasing an additional 1,139,586 shares in the last quarter. Kirr Marbach & Co. LLC IN bought a new position in Cummins in the 3rd quarter worth about $255,000. AGF Investments America Inc. boosted its stake in Cummins by 41.5% in the 2nd quarter. AGF Investments America Inc. now owns 38,653 shares of the company’s stock worth $6,270,000 after purchasing an additional 11,338 shares in the last quarter. Finally, Boston Partners bought a new position in Cummins in the 3rd quarter worth about $416,229,000. 82.50% of the stock is currently owned by institutional investors.

Shares of Cummins Inc. (NYSE CMI) traded down $0.12 during mid-day trading on Wednesday, hitting $164.84. The stock had a trading volume of 1,147,300 shares, compared to its average volume of 1,312,233. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.57 and a quick ratio of 1.03. Cummins Inc. has a 1-year low of $134.06 and a 1-year high of $181.79. The stock has a market capitalization of $27,378.00, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.32 and a beta of 1.13.

Cummins (NYSE:CMI) last released its earnings results on Tuesday, October 31st. The company reported $2.71 EPS for the quarter, topping the Zacks’ consensus estimate of $2.47 by $0.24. The firm had revenue of $5.29 billion during the quarter, compared to the consensus estimate of $4.79 billion. Cummins had a return on equity of 21.28% and a net margin of 8.49%. The company’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 earnings per share. equities analysts expect that Cummins Inc. will post 10.19 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 17th were given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend was Thursday, November 16th. Cummins’s payout ratio is 43.86%.

Several equities analysts have issued reports on CMI shares. Zacks Investment Research cut shares of Cummins from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BMO Capital Markets increased their price objective on shares of Cummins from $185.00 to $190.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 8th. Buckingham Research started coverage on shares of Cummins in a research note on Tuesday, September 5th. They issued a “buy” rating and a $180.00 price objective on the stock. Piper Jaffray Companies set a $170.00 price objective on shares of Cummins and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Finally, ValuEngine raised shares of Cummins from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $175.49.

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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.

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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