Amalgamated Bank Grows Stock Position in Cummins Inc. (NYSE:CMI)

Amalgamated Bank boosted its holdings in Cummins Inc. (NYSE:CMIFree Report) by 4.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,444 shares of the company’s stock after acquiring an additional 1,707 shares during the period. Amalgamated Bank’s holdings in Cummins were worth $8,554,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Steward Financial Group LLC acquired a new position in Cummins during the second quarter worth $27,000. OFI Invest Asset Management acquired a new position in Cummins during the third quarter worth $25,000. Tyler Stone Wealth Management acquired a new position in Cummins during the second quarter worth $30,000. Global Wealth Strategies & Associates acquired a new position in Cummins during the third quarter worth $29,000. Finally, Quarry LP acquired a new position in Cummins during the first quarter worth $32,000. 81.81% of the stock is currently owned by institutional investors and hedge funds.

Cummins Price Performance

Shares of NYSE:CMI opened at $244.65 on Monday. The company has a quick ratio of 0.90, a current ratio of 1.43 and a debt-to-equity ratio of 0.42. The company has a market cap of $34.68 billion, a P/E ratio of 12.47, a PEG ratio of 1.32 and a beta of 1.02. Cummins Inc. has a 52 week low of $203.18 and a 52 week high of $265.28. The company has a 50-day moving average price of $236.58 and a 200 day moving average price of $233.50.

Cummins (NYSE:CMIGet Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.63 by $0.10. Cummins had a net margin of 8.40% and a return on equity of 26.12%. The company had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $8.14 billion. Research analysts predict that Cummins Inc. will post 19.95 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CMI. StockNews.com lowered Cummins from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 16th. Morgan Stanley initiated coverage on Cummins in a report on Monday, January 8th. They issued an “overweight” rating and a $278.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Cummins from $255.00 to $245.00 and set an “underweight” rating on the stock in a report on Thursday, January 18th. Finally, Bank of America lowered Cummins from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $243.00 to $225.00 in a report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $260.38.

View Our Latest Stock Analysis on Cummins

About Cummins

(Free Report)

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 New Power. 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 new parts and services, as well as remanufactured parts and engines.

See Also

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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