Strategic Blueprint LLC Acquires 67 Shares of Cummins Inc. (NYSE:CMI)

Posted by on Jul 20th, 2023

Strategic Blueprint LLC lifted its stake in Cummins Inc. (NYSE:CMI – Free Report) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,573 shares of the company’s stock after purchasing an additional 67 shares during the quarter. Strategic Blueprint LLC’s holdings in Cummins were worth $376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Capital Advisors Ltd. LLC grew its stake in shares of Cummins by 39.2% in the fourth quarter. Capital Advisors Ltd. LLC now owns 142 shares of the company’s stock worth $25,000 after acquiring an additional 40 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Cummins by 588.2% during the 4th quarter. Exchange Traded Concepts LLC now owns 117 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Hollencrest Capital Management purchased a new position in Cummins in the fourth quarter worth about $33,000. Osterweis Capital Management Inc. bought a new position in shares of Cummins in the fourth quarter worth approximately $33,000. Finally, Core Alternative Capital lifted its stake in shares of Cummins by 305.4% in the first quarter. Core Alternative Capital now owns 150 shares of the company’s stock worth $36,000 after buying an additional 113 shares in the last quarter. Hedge funds and other institutional investors own 82.72% of the company’s stock.

Cummins Stock Performance

Shares of CMI opened at $258.85 on Thursday. The business has a 50-day simple moving average of $231.37 and a two-hundred day simple moving average of $236.87. The stock has a market cap of $36.64 billion, a price-to-earnings ratio of 14.59, a PEG ratio of 1.42 and a beta of 1.05. Cummins Inc. has a 52 week low of $200.34 and a 52 week high of $261.91. The company has a quick ratio of 0.80, a current ratio of 1.29 and a debt-to-equity ratio of 0.42.

Cummins (NYSE:CMI – Get Free Report) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $5.55 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.85. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.13 billion. Cummins had a net margin of 8.37% and a return on equity of 25.94%. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.04 earnings per share. On average, analysts expect that Cummins Inc. will post 19.8 EPS for the current year.

Cummins Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Friday, August 25th will be given a $0.0168 dividend. The ex-dividend date is Thursday, August 24th. This represents a $0.07 annualized dividend and a dividend yield of 0.03%. Cummins’s payout ratio is 35.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CMI shares. VNET Group restated a “maintains” rating on shares of Cummins in a report on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on Cummins from $231.00 to $227.00 and set a “hold” rating on the stock in a report on Wednesday, April 12th. StockNews.com began coverage on Cummins in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Citigroup upped their target price on shares of Cummins from $265.00 to $290.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, 888 reiterated a “maintains” rating on shares of Cummins in a research note on Wednesday, May 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $253.33.

About Cummins

(Free Report)

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, electric and hybrid powertrains, and related components worldwide. It operates through five segments: Engine, Distribution, Components, Power Systems, and New Power. The company offers diesel and natural gas-powered engines under the Cummins and other customer brands for the heavy and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets; and offers new parts and services, as well as remanufactured parts and engines.

Read More

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.