Sepio Capital LP Purchases Shares of 6,133 Cummins Inc. $CMI

Sepio Capital LP purchased a new stake in Cummins Inc. (NYSE:CMI) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 6,133 shares of the company’s stock, valued at approximately $3,131,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Thompson Investment Management Inc. acquired a new stake in Cummins in the 4th quarter valued at about $26,000. Activest Wealth Management lifted its holdings in Cummins by 537.5% in the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Wellington Shields Capital Management LLC acquired a new stake in Cummins in the 4th quarter valued at about $27,000. Ares Financial Consulting LLC acquired a new stake in Cummins in the 4th quarter valued at about $29,000. Finally, Osterweis Capital Management Inc. acquired a new stake in Cummins in the 2nd quarter valued at about $31,000. 83.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on CMI. Robert W. Baird set a $700.00 price objective on Cummins in a report on Wednesday, May 6th. Argus boosted 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. Sanford C. Bernstein restated a “market perform” rating on shares of Cummins in a report on Friday, May 22nd. Wells Fargo & Company boosted their price objective on Cummins from $693.00 to $794.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Truist Financial set a $815.00 price objective on Cummins in a report on Wednesday, May 6th. One research 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 company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Moderate Buy” and an average price target of $726.14.

Insider Buying and Selling

In other news, insider Brett Michael Merritt sold 701 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $688.75, for a total value of $482,813.75. Following the transaction, the insider owned 10,404 shares in the company, valued at $7,165,755. This represents a 6.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Donald G. Jackson sold 730 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $710.92, for a total value of $518,971.60. Following the completion of the transaction, the vice president owned 8,316 shares in the company, valued at $5,912,010.72. This represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 13,579 shares of company stock worth $9,377,684 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Cummins Price Performance

Shares of CMI opened at $655.61 on Friday. The company has a market capitalization of $90.47 billion, a price-to-earnings ratio of 34.02, a P/E/G ratio of 1.54 and a beta of 1.23. Cummins Inc. has a fifty-two week low of $307.90 and a fifty-two week high of $718.08. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.71 and a quick ratio of 1.11. The business’s 50-day moving average is $646.26 and its 200-day moving average is $582.72.

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

Cummins Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Friday, May 22nd were issued a $2.00 dividend. The ex-dividend date was Friday, May 22nd. This represents a $8.00 dividend on an annualized basis and a dividend yield of 1.2%. Cummins’s dividend payout ratio is currently 41.52%.

About Cummins

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.