Albar Capital Partners LLP Acquires Shares of 13,771 Cummins Inc. (NYSE:CMI)

Albar Capital Partners LLP bought a new stake in Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,771 shares of the company's stock, valued at approximately $4,801,000. Cummins comprises 1.2% of Albar Capital Partners LLP's investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors have also modified their holdings of CMI. Global Trust Asset Management LLC increased its stake in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock valued at $26,000 after buying an additional 28 shares during the period. KG&L Capital Management LLC increased its stake in shares of Cummins by 0.8% during the fourth quarter. KG&L Capital Management LLC now owns 3,749 shares of the company's stock worth $1,296,000 after acquiring an additional 28 shares during the period. Signaturefd LLC lifted its position in Cummins by 0.9% in the fourth quarter. Signaturefd LLC now owns 3,313 shares of the company's stock valued at $1,155,000 after purchasing an additional 28 shares during the period. Massachusetts Wealth Management boosted its holdings in Cummins by 0.6% in the 4th quarter. Massachusetts Wealth Management now owns 4,812 shares of the company's stock valued at $1,677,000 after purchasing an additional 30 shares in the last quarter. Finally, Avestar Capital LLC increased its position in Cummins by 3.2% during the 4th quarter. Avestar Capital LLC now owns 987 shares of the company's stock worth $344,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 83.46% of the company's stock.

Cummins Stock Performance

NYSE:CMI opened at $294.90 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.80. The firm has a market cap of $40.62 billion, a PE ratio of 10.47, a P/E/G ratio of 2.19 and a beta of 1.07. The firm has a 50 day simple moving average of $311.69 and a 200-day simple moving average of $342.61. Cummins Inc. has a 1-year low of $260.02 and a 1-year high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. The company had revenue of $8.45 billion for the quarter, compared to analyst estimates of $8.06 billion. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.14 EPS. On average, equities analysts expect that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were issued a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Friday, February 21st. Cummins's dividend payout ratio (DPR) is 25.84%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CMI shares. Evercore ISI upped their price objective on Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Citigroup lowered their price target on shares of Cummins from $360.00 to $320.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. StockNews.com cut shares of Cummins from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Barclays upped their target price on shares of Cummins from $310.00 to $381.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley reduced their price target on shares of Cummins from $425.00 to $340.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $346.00.

Cummins Company Profile

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 Accelera. 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 parts and services, as well as remanufactured parts and engines.

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