Yousif Capital Management LLC Buys 340 Shares of Cummins Inc. (NYSE:CMI)

Posted by on Mar 19th, 2023

Yousif Capital Management LLC increased its stake in shares of Cummins Inc. (NYSE:CMI – Get Rating) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,867 shares of the company’s stock after purchasing an additional 340 shares during the quarter. Yousif Capital Management LLC’s holdings in Cummins were worth $5,783,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CMI. Price T Rowe Associates Inc. MD grew its position in Cummins by 39.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,240,383 shares of the company’s stock valued at $1,067,213,000 after acquiring an additional 1,484,171 shares during the last quarter. First Trust Advisors LP grew its position in Cummins by 48.8% in the 3rd quarter. First Trust Advisors LP now owns 2,033,702 shares of the company’s stock valued at $413,878,000 after acquiring an additional 666,567 shares during the last quarter. Neuberger Berman Group LLC grew its position in Cummins by 69.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,221,941 shares of the company’s stock valued at $248,698,000 after acquiring an additional 501,499 shares during the last quarter. Castleview Partners LLC grew its position in Cummins by 18,796.4% in the 2nd quarter. Castleview Partners LLC now owns 432,539 shares of the company’s stock valued at $2,235,000 after acquiring an additional 430,250 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Cummins by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,203,832 shares of the company’s stock valued at $2,687,113,000 after acquiring an additional 226,774 shares during the last quarter. Institutional investors own 80.94% of the company’s stock.

Cummins Trading Down 2.9 %

Shares of NYSE CMI opened at $225.21 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.27 and a quick ratio of 0.77. The stock has a market capitalization of $31.84 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Cummins Inc. has a 1-year low of $184.27 and a 1-year high of $261.91. The business has a fifty day moving average price of $247.59 and a 200 day moving average price of $237.19.

Cummins (NYSE:CMI – Get Rating) last issued its quarterly earnings data on Monday, February 6th. The company reported $4.52 earnings per share for the quarter, hitting analysts’ consensus estimates of $4.52. The firm had revenue of $7.77 billion during the quarter, compared to analysts’ expectations of $7.21 billion. Cummins had a return on equity of 24.58% and a net margin of 7.66%. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.85 EPS. Equities research analysts expect that Cummins Inc. will post 18.95 EPS for the current fiscal year.

Cummins Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Friday, February 24th were paid a dividend of $1.57 per share. This represents a $6.28 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, February 23rd. Cummins’s dividend payout ratio (DPR) is currently 41.56%.

Insider Buying and Selling

In other Cummins news, Director Georgia R. Nelson sold 1,933 shares of the stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $251.64, for a total value of $486,420.12. Following the completion of the sale, the director now directly owns 21,742 shares in the company, valued at $5,471,156.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Cummins news, VP Sharon R. Barner sold 5,929 shares of the stock in a transaction dated Friday, February 17th. The stock was sold at an average price of $257.13, for a total value of $1,524,523.77. Following the completion of the sale, the vice president now directly owns 16,144 shares in the company, valued at $4,151,106.72. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Georgia R. Nelson sold 1,933 shares of the stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $251.64, for a total value of $486,420.12. Following the completion of the sale, the director now owns 21,742 shares of the company’s stock, valued at $5,471,156.88. The disclosure for this sale can be found here. Insiders sold 16,709 shares of company stock worth $4,245,545 in the last three months. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

CMI has been the topic of several research analyst reports. Morgan Stanley cut their price objective on Cummins from $264.00 to $262.00 and set an “equal weight” rating on the stock in a research report on Friday, January 20th. Credit Suisse Group upped their target price on Cummins from $287.00 to $291.00 and gave the stock an “outperform” rating in a report on Tuesday, February 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Cummins from $235.00 to $231.00 and set a “hold” rating for the company in a report on Tuesday, February 7th. UBS Group upped their target price on Cummins from $247.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Finally, StockNews.com assumed coverage on Cummins in a report on Thursday. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Cummins currently has an average rating of “Hold” and an average target price of $254.75.

Cummins Company Profile

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Cummins, Inc engages in the design, manufacture, and market of diesel and natural gas engines. It operates through the following segments: Engine, Distribution, Components, Power Systems, and New Power. The Engine segment manufactures and markets diesel and natural gas-powered engines under the Cummins brand name, for the heavy- and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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