Financial Management Professionals Inc. Acquires 981 Shares of Cummins Inc. (NYSE:CMI)

Financial Management Professionals Inc. grew its holdings in Cummins Inc. (NYSE:CMI – Get Rating) by 146.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,652 shares of the company’s stock after purchasing an additional 981 shares during the quarter. Financial Management Professionals Inc.’s holdings in Cummins were worth $400,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CMI. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 purchasing an additional 1,484,171 shares during the last quarter. First Trust Advisors LP boosted its stake in Cummins by 48.8% during the 3rd quarter. First Trust Advisors LP now owns 2,033,702 shares of the company’s stock worth $413,878,000 after acquiring an additional 666,567 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in Cummins by 69.6% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,221,941 shares of the company’s stock worth $248,698,000 after acquiring an additional 501,499 shares during the last quarter. Castleview Partners LLC boosted its stake in Cummins by 18,796.4% during the 2nd quarter. Castleview Partners LLC now owns 432,539 shares of the company’s stock worth $2,235,000 after acquiring an additional 430,250 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Cummins by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,203,832 shares of the company’s stock worth $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 Stock Down 2.9 %

CMI traded down $6.63 during trading on Friday, reaching $225.21. 6,126,622 shares of the stock were exchanged, compared to its average volume of 1,145,081. The stock has a market cap of $31.84 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01. Cummins Inc. has a twelve month low of $184.27 and a twelve month high of $261.91. The stock’s 50 day moving average price is $247.59 and its two-hundred day moving average price is $237.19. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.77 and a current ratio of 1.27.

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

Cummins Announces Dividend

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

Insider Buying and Selling

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

Wall Street Analyst Weigh In

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

About Cummins

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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.