Cummins (NYSE:CMI) Reaches New 12-Month Low at $186.58

Posted by on Jun 16th, 2022

Cummins Inc. (NYSE:CMI – Get Rating) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $186.58 and last traded at $187.25, with a volume of 10286 shares traded. The stock had previously closed at $199.16.

CMI has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Cummins from $256.00 to $233.00 and set a “hold” rating on the stock in a research report on Thursday, April 14th. UBS Group lowered shares of Cummins from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $260.00 to $214.00 in a research report on Friday, March 18th. StockNews.com raised shares of Cummins from a “hold” rating to a “buy” rating in a research report on Wednesday, May 11th. Credit Suisse Group dropped their price objective on shares of Cummins from $304.00 to $270.00 in a research report on Wednesday, May 4th. Finally, Citigroup dropped their price objective on shares of Cummins from $260.00 to $220.00 in a research report on Tuesday, April 12th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $253.22.

The firm has a market capitalization of $26.71 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The business’s 50-day moving average is $201.34 and its 200 day moving average is $210.65. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.68 and a quick ratio of 1.07.

Cummins (NYSE:CMI – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $4.04 EPS for the quarter, topping analysts’ consensus estimates of $3.55 by $0.49. Cummins had a net margin of 8.00% and a return on equity of 23.19%. The business had revenue of $6.39 billion for the quarter, compared to analyst estimates of $6.06 billion. During the same period last year, the firm earned $4.04 earnings per share. Cummins’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts anticipate that Cummins Inc. will post 17.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 2nd. Shareholders of record on Friday, May 20th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Thursday, May 19th. This represents a $5.80 dividend on an annualized basis and a yield of 3.06%. Cummins’s payout ratio is 43.15%.

In other Cummins news, COO Jennifer Rumsey sold 420 shares of the stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of $208.41, for a total transaction of $87,532.20. Following the sale, the chief operating officer now directly owns 2,052 shares in the company, valued at $427,657.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Franklin R. Changdiaz sold 1,560 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The shares were sold at an average price of $199.62, for a total transaction of $311,407.20. Following the completion of the sale, the director now owns 4,842 shares in the company, valued at $966,560.04. The disclosure for this sale can be found here. Insiders have sold 50,710 shares of company stock worth $10,468,698 over the last quarter. Corporate insiders own 1.05% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CMI. Cyrus J. Lawrence LLC acquired a new stake in shares of Cummins in the 1st quarter valued at approximately $25,000. Tyler Stone Wealth Management acquired a new stake in shares of Cummins in the 1st quarter valued at approximately $25,000. Mystic Asset Management Inc. acquired a new stake in shares of Cummins in the 4th quarter valued at approximately $27,000. KRS Capital Management LLC bought a new position in Cummins in the 4th quarter valued at approximately $30,000. Finally, Steward Financial Group LLC bought a new position in Cummins in the 4th quarter valued at approximately $32,000. Institutional investors own 80.50% of the company’s stock.

Cummins Company Profile (NYSE:CMI)

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.

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