Cummins Inc. (CMI) Holdings Lifted by Hodges Capital Management Inc.

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Hodges Capital Management Inc. raised its stake in shares of Cummins Inc. (NYSE:CMI) by 143.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,096 shares of the company’s stock after buying an additional 3,000 shares during the quarter. Hodges Capital Management Inc.’s holdings in Cummins were worth $805,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Morgan Stanley grew its holdings in Cummins by 5.3% during the 3rd quarter. Morgan Stanley now owns 1,727,365 shares of the company’s stock valued at $252,315,000 after buying an additional 86,791 shares in the last quarter. Jolley Asset Management LLC grew its holdings in shares of Cummins by 4.2% during the fourth quarter. Jolley Asset Management LLC now owns 28,445 shares of the company’s stock worth $3,801,000 after purchasing an additional 1,138 shares in the last quarter. First Hawaiian Bank grew its holdings in shares of Cummins by 21.2% during the fourth quarter. First Hawaiian Bank now owns 7,661 shares of the company’s stock worth $1,023,000 after purchasing an additional 1,338 shares in the last quarter. Paradigm Asset Management Co. LLC grew its holdings in shares of Cummins by 0.9% during the third quarter. Paradigm Asset Management Co. LLC now owns 17,350 shares of the company’s stock worth $2,534,000 after purchasing an additional 150 shares in the last quarter. Finally, DNB Asset Management AS grew its holdings in shares of Cummins by 2.0% during the fourth quarter. DNB Asset Management AS now owns 43,723 shares of the company’s stock worth $5,843,000 after purchasing an additional 867 shares in the last quarter. 82.08% of the stock is owned by institutional investors and hedge funds.

NYSE:CMI opened at $164.97 on Tuesday. The company has a market capitalization of $26.15 billion, a P/E ratio of 12.47, a PEG ratio of 1.15 and a beta of 1.09. Cummins Inc. has a 1-year low of $124.40 and a 1-year high of $172.08. The company has a quick ratio of 0.95, a current ratio of 1.54 and a debt-to-equity ratio of 0.19.

Cummins (NYSE:CMI) last released its earnings results on Wednesday, February 6th. The company reported $3.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.81 by ($0.33). The firm had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.08 billion. Cummins had a return on equity of 29.71% and a net margin of 9.01%. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.03 EPS. On average, equities analysts forecast that Cummins Inc. will post 15.48 EPS for the current fiscal year.

In other Cummins news, VP Tracy A. Embree sold 206 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $150.00, for a total value of $30,900.00. Following the completion of the sale, the vice president now owns 4,221 shares in the company, valued at $633,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard Joseph Freeland sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, January 18th. The shares were sold at an average price of $150.00, for a total value of $675,000.00. Following the completion of the sale, the chief operating officer now owns 4,500 shares of the company’s stock, valued at approximately $675,000. The disclosure for this sale can be found here. Insiders sold 6,816 shares of company stock valued at $1,039,321 in the last quarter. Corporate insiders own 0.95% of the company’s stock.

Several research analysts have recently commented on CMI shares. Robert W. Baird raised Cummins from a “neutral” rating to an “outperform” rating and set a $148.40 price objective for the company in a report on Thursday, February 7th. Royal Bank of Canada reissued a “hold” rating and set a $155.00 price objective on shares of Cummins in a report on Monday, December 24th. Zacks Investment Research raised Cummins from a “sell” rating to a “hold” rating and set a $168.00 price objective for the company in a report on Wednesday, February 6th. Oppenheimer lowered Cummins from an “outperform” rating to a “market perform” rating in a report on Thursday, February 7th. Finally, Piper Jaffray Companies set a $195.00 price objective on Cummins and gave the stock a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. Cummins presently has a consensus rating of “Hold” and an average price target of $162.24.

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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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