Mercuria Capital Strategies LLC Invests $6.86 Million in Cummins Inc. $CMI

Mercuria Capital Strategies LLC bought a new stake in Cummins Inc. (NYSE:CMI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,230 shares of the company’s stock, valued at approximately $6,855,000. Cummins makes up 9.0% of Mercuria Capital Strategies LLC’s holdings, making the stock its 5th biggest position.

A number of other institutional investors have also added to or reduced their stakes in CMI. United Capital Management of KS Inc. grew its position in shares of Cummins by 2.0% in the 3rd quarter. United Capital Management of KS Inc. now owns 1,149 shares of the company’s stock valued at $485,000 after acquiring an additional 22 shares during the period. Stock Yards Bank & Trust Co. raised its holdings in shares of Cummins by 0.4% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,917 shares of the company’s stock valued at $2,499,000 after purchasing an additional 24 shares during the period. Whittier Trust Co. lifted its stake in Cummins by 0.9% in the 3rd quarter. Whittier Trust Co. now owns 2,667 shares of the company’s stock valued at $1,154,000 after purchasing an additional 24 shares during the last quarter. Howard Capital Management Inc. lifted its stake in Cummins by 2.9% in the 3rd quarter. Howard Capital Management Inc. now owns 863 shares of the company’s stock valued at $365,000 after purchasing an additional 24 shares during the last quarter. Finally, BNP Paribas grew its holdings in Cummins by 1.8% during the second quarter. BNP Paribas now owns 1,422 shares of the company’s stock worth $466,000 after purchasing an additional 25 shares during the period. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Cummins Trading Up 1.9%

Shares of CMI stock opened at $549.46 on Tuesday. Cummins Inc. has a 12-month low of $260.02 and a 12-month high of $617.98. The company has a market capitalization of $75.91 billion, a PE ratio of 26.78, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The firm has a 50 day moving average price of $571.48 and a two-hundred day moving average price of $492.43. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51.

Cummins (NYSE:CMI) last posted its earnings results on Thursday, February 5th. The company reported $5.81 EPS for the quarter, beating the consensus estimate of $5.17 by $0.64. The company had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.09 billion. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.16 earnings per share. As a group, analysts predict that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Friday, February 20th. Cummins’s dividend payout ratio is currently 38.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CMI. Argus set a $696.00 price target on Cummins in a research report on Tuesday, February 10th. Truist Financial reaffirmed a “buy” rating and issued a $703.00 price objective (up from $653.00) on shares of Cummins in a research report on Friday, February 6th. Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a research note on Friday, February 6th. Wells Fargo & Company boosted their target price on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Cummins in a research note on Monday, December 29th. Eleven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $588.93.

Insider Transactions at Cummins

In other Cummins news, VP Earl Newsome sold 1,300 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $583.67, for a total transaction of $758,771.00. Following the transaction, the vice president owned 3,389 shares in the company, valued at $1,978,057.63. This trade represents a 27.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Donald G. Jackson sold 1,600 shares of Cummins stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total value of $960,208.00. Following the sale, the vice president directly owned 7,214 shares of the company’s stock, valued at $4,329,337.82. This represents a 18.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 31,195 shares of company stock worth $18,397,489. 0.41% of the stock is currently owned by company 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.