Candriam Luxembourg S.C.A. Acquires 6,868 Shares of Cummins Inc. (NYSE:CMI)

Candriam Luxembourg S.C.A. raised its holdings in Cummins Inc. (NYSE:CMI) by 31.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,009 shares of the company’s stock after buying an additional 6,868 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Cummins were worth $5,191,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CMI. American International Group Inc. increased its stake in shares of Cummins by 2,162.4% during the fourth quarter. American International Group Inc. now owns 1,728,050 shares of the company’s stock worth $309,252,000 after purchasing an additional 1,651,668 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Cummins by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 109,983 shares of the company’s stock worth $19,683,000 after purchasing an additional 1,996 shares during the period. Rhumbline Advisers increased its stake in shares of Cummins by 0.9% during the fourth quarter. Rhumbline Advisers now owns 342,677 shares of the company’s stock worth $61,325,000 after purchasing an additional 3,014 shares during the period. New York State Common Retirement Fund increased its stake in shares of Cummins by 7.1% during the fourth quarter. New York State Common Retirement Fund now owns 333,111 shares of the company’s stock worth $59,614,000 after purchasing an additional 22,069 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Cummins by 13.8% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,730 shares of the company’s stock worth $5,610,000 after purchasing an additional 3,850 shares during the period. Hedge funds and other institutional investors own 82.98% of the company’s stock.

CMI has been the topic of a number of recent research reports. Cfra lowered Cummins from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Goldman Sachs Group upgraded Cummins from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $192.00 to $200.00 in a research note on Thursday. Citigroup lowered their price objective on Cummins from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Raymond James assumed coverage on Cummins in a research note on Wednesday, November 27th. They set a “market perform” rating on the stock. Finally, ValuEngine upgraded Cummins from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $183.19.

In other Cummins news, CEO Norman Thomas Linebarger sold 10,447 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $167.54, for a total value of $1,750,290.38. Following the sale, the chief executive officer now owns 95,636 shares of the company’s stock, valued at approximately $16,022,855.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Mark J. Osowick sold 438 shares of the firm’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $165.88, for a total value of $72,655.44. Following the completion of the sale, the vice president now directly owns 7,392 shares in the company, valued at approximately $1,226,184.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,280 shares of company stock worth $2,727,957. Company insiders own 0.95% of the company’s stock.

Cummins stock opened at $166.78 on Friday. The stock’s fifty day moving average price is $170.59 and its two-hundred day moving average price is $168.05. Cummins Inc. has a one year low of $141.14 and a one year high of $186.73. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.50 and a quick ratio of 0.94. The firm has a market cap of $25.45 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 2.11 and a beta of 1.15.

Cummins (NYSE:CMI) last issued its earnings results on Tuesday, February 4th. The company reported $2.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.42 by $0.14. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.39 billion. Cummins had a return on equity of 26.49% and a net margin of 9.59%. The company’s revenue was down 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.48 EPS. Sell-side analysts expect that Cummins Inc. will post 12.1 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 5th. Shareholders of record on Friday, February 21st will be issued a $1.311 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, February 20th. Cummins’s dividend payout ratio is presently 34.82%.

Cummins announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 10th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Cummins Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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