Usca Ria LLC Has $4.50 Million Stock Position in Cummins Inc. (NYSE:CMI)

Usca Ria LLC reduced its position in Cummins Inc. (NYSE:CMI) by 0.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 26,251 shares of the company’s stock after selling 197 shares during the period. Cummins makes up about 1.3% of Usca Ria LLC’s portfolio, making the stock its 24th largest position. Usca Ria LLC’s holdings in Cummins were worth $4,498,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Gradient Investments LLC lifted its stake in Cummins by 102.8% in the 2nd quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after purchasing an additional 74 shares during the last quarter. Guidant Wealth Advisors acquired a new stake in Cummins in the 1st quarter valued at about $29,000. Sonora Investment Management LLC acquired a new stake in Cummins in the 2nd quarter valued at about $32,000. Lenox Wealth Advisors LLC acquired a new stake in Cummins in the 2nd quarter valued at about $33,000. Finally, SeaBridge Investment Advisors LLC acquired a new stake in Cummins in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 81.51% of the company’s stock.

CMI stock traded up $3.22 during mid-day trading on Friday, hitting $149.25. 1,223,000 shares of the company were exchanged, compared to its average volume of 1,430,737. The business has a 50 day simple moving average of $164.87 and a 200-day simple moving average of $161.01. The company has a current ratio of 1.66, a quick ratio of 1.04 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $23.04 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. Cummins Inc. has a 1-year low of $124.40 and a 1-year high of $175.91.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $4.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.38 by ($0.11). The company had revenue of $6.22 billion for the quarter, compared to analyst estimates of $6.36 billion. Cummins had a return on equity of 29.75% and a net margin of 10.74%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $4.14 earnings per share. Equities research analysts expect that Cummins Inc. will post 15.84 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Wednesday, August 21st will be given a $1.311 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.51%. This is an increase from Cummins’s previous quarterly dividend of $1.14. The ex-dividend date is Tuesday, August 20th. Cummins’s payout ratio is presently 34.47%.

Several equities research analysts recently issued reports on CMI shares. Morgan Stanley cut their target price on shares of Cummins from $167.00 to $162.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of Cummins from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Friday, May 3rd. Standpoint Research downgraded shares of Cummins from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Loop Capital downgraded shares of Cummins from a “hold” rating to a “sell” rating and cut their price objective for the stock from $168.00 to $145.00 in a research report on Tuesday, July 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Cummins from $176.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $166.67.

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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