Adams Asset Advisors LLC Sells 148 Shares of Cummins Inc. (NYSE:CMI)

Adams Asset Advisors LLC reduced its position in Cummins Inc. (NYSE:CMIFree Report) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,083 shares of the company’s stock after selling 148 shares during the quarter. Cummins makes up about 1.3% of Adams Asset Advisors LLC’s portfolio, making the stock its 22nd largest position. Adams Asset Advisors LLC’s holdings in Cummins were worth $10,337,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First United Bank & Trust bought a new stake in shares of Cummins in the 4th quarter valued at $25,000. Private Wealth Management Group LLC acquired a new position in shares of Cummins during the 4th quarter valued at $26,000. Silver Oak Securities Incorporated acquired a new position in shares of Cummins during the 3rd quarter valued at $28,000. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cummins during the 4th quarter valued at $31,000. Finally, Quarry LP lifted its position in shares of Cummins by 258.5% during the 4th quarter. Quarry LP now owns 147 shares of the company’s stock valued at $35,000 after acquiring an additional 106 shares during the period. 83.46% of the stock is owned by institutional investors.

Cummins Stock Up 1.2 %

Shares of CMI stock traded up $3.29 on Thursday, hitting $277.08. The stock had a trading volume of 1,138,592 shares, compared to its average volume of 2,119,778. The business has a 50 day moving average of $284.32 and a 200 day moving average of $266.54. The stock has a market cap of $37.90 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.71 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.34 and a quick ratio of 0.84. Cummins Inc. has a 12-month low of $212.80 and a 12-month high of $304.24.

Cummins (NYSE:CMIGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $5.10 EPS for the quarter, missing the consensus estimate of $5.11 by ($0.01). The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.36 billion. Cummins had a net margin of 5.70% and a return on equity of 25.38%. As a group, analysts expect that Cummins Inc. will post 18.84 EPS for the current year.

Cummins Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Investors of record on Friday, May 24th were given a dividend of $1.68 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $6.72 annualized dividend and a yield of 2.43%. Cummins’s payout ratio is currently 49.19%.

Insider Activity at Cummins

In related news, VP Jeffrey T. Wiltrout purchased 282 shares of Cummins stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $285.11 per share, for a total transaction of $80,401.02. Following the completion of the transaction, the vice president now owns 1,262 shares in the company, valued at $359,808.82. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cummins news, VP Marvin Boakye bought 1,745 shares of the business’s stock in a transaction on Monday, May 20th. The stock was purchased at an average price of $286.04 per share, for a total transaction of $499,139.80. Following the completion of the transaction, the vice president now directly owns 1,745 shares of the company’s stock, valued at $499,139.80. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jeffrey T. Wiltrout bought 282 shares of the business’s stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $285.11 per share, with a total value of $80,401.02. Following the transaction, the vice president now directly owns 1,262 shares of the company’s stock, valued at $359,808.82. The disclosure for this purchase can be found here. 0.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CMI. StockNews.com upgraded shares of Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. UBS Group upgraded shares of Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the company from $254.00 to $321.00 in a research report on Friday, March 15th. Robert W. Baird lowered their price objective on shares of Cummins from $298.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. TD Cowen upped their price objective on shares of Cummins from $272.00 to $292.00 and gave the stock a “buy” rating in a report on Friday, May 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Cummins from $245.00 to $275.00 and gave the stock an “underweight” rating in a report on Monday, March 25th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $284.36.

Read Our Latest Report on CMI

Cummins Profile

(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 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.

Further Reading

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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