Meadowbrook Advisors Group LLC Has $810,000 Position in Cummins Inc. $CMI

Meadowbrook Advisors Group LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 58.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,506 shares of the company’s stock after selling 2,162 shares during the period. Meadowbrook Advisors Group LLC’s holdings in Cummins were worth $810,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CMI. Vaughan Nelson Investment Management L.P. increased its position in shares of Cummins by 9,111.8% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 268,523 shares of the company’s stock valued at $144,471,000 after acquiring an additional 265,608 shares during the last quarter. Triad Wealth Partners LLC bought a new stake in Cummins during the first quarter worth about $214,000. Quotient Wealth Partners LLC boosted its position in Cummins by 9.9% during the first quarter. Quotient Wealth Partners LLC now owns 501 shares of the company’s stock valued at $269,000 after purchasing an additional 45 shares during the last quarter. Fortem Financial Group LLC boosted its position in Cummins by 9.0% during the first quarter. Fortem Financial Group LLC now owns 7,664 shares of the company’s stock valued at $4,123,000 after purchasing an additional 630 shares during the last quarter. Finally, Uhlmann Price Securities LLC grew its stake in Cummins by 2.4% in the first quarter. Uhlmann Price Securities LLC now owns 717 shares of the company’s stock valued at $386,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 83.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Zacks Research raised Cummins from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Evercore reissued an “outperform” rating and issued a $845.00 price objective on shares of Cummins in a report on Monday, May 11th. Robert W. Baird set a $700.00 target price on shares of Cummins in a research note on Wednesday, May 6th. Morgan Stanley boosted their target price on shares of Cummins from $675.00 to $752.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings lowered shares of Cummins from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $731.86.

Cummins Price Performance

Shares of NYSE CMI opened at $716.50 on Monday. The company has a quick ratio of 1.11, a current ratio of 1.71 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average price is $663.00 and its two-hundred day moving average price is $591.35. The company has a market cap of $98.87 billion, a PE ratio of 37.18, a price-to-earnings-growth ratio of 1.74 and a beta of 1.24. Cummins Inc. has a twelve month low of $307.90 and a twelve month high of $737.76.

Cummins (NYSE:CMI) last released its quarterly earnings data on Tuesday, May 5th. The company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.63 by $0.52. Cummins had a return on equity of 25.25% and a net margin of 7.89%.The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.37 billion. During the same period last year, the firm posted $5.96 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. On average, analysts predict that Cummins Inc. will post 29.44 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Friday, May 22nd were paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, May 22nd. Cummins’s dividend payout ratio is 41.52%.

Insider Buying and Selling at Cummins

In other Cummins news, VP Nathan R. Stoner sold 607 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $694.06, for a total transaction of $421,294.42. Following the completion of the sale, the vice president owned 9,447 shares of the company’s stock, valued at $6,556,784.82. This trade represents a 6.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Bonnie J. Fetch sold 652 shares of Cummins stock in a transaction on Monday, May 11th. The stock was sold at an average price of $700.19, for a total transaction of $456,523.88. Following the transaction, the executive vice president directly owned 11,679 shares of the company’s stock, valued at approximately $8,177,519.01. This trade represents a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 13,579 shares of company stock worth $9,377,684. 0.30% of the stock is currently owned by corporate insiders.

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.