Semper Augustus Investments Group LLC Decreases Holdings in Cummins Inc. (NYSE:CMI)

Semper Augustus Investments Group LLC trimmed its holdings in shares of Cummins Inc. (NYSE:CMI) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,456 shares of the company’s stock after selling 388 shares during the period. Cummins comprises approximately 2.5% of Semper Augustus Investments Group LLC’s investment portfolio, making the stock its 11th largest holding. Semper Augustus Investments Group LLC’s holdings in Cummins were worth $14,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Trust Asset Management LLC boosted its stake in Cummins by 59.6% in the fourth quarter. Global Trust Asset Management LLC now owns 75 shares of the company’s stock valued at $26,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new position in Cummins in the fourth quarter valued at approximately $26,000. Compass Financial Services Inc purchased a new stake in Cummins in the fourth quarter worth $27,000. Meeder Asset Management Inc. increased its position in Cummins by 208.0% in the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company’s stock worth $27,000 after buying an additional 52 shares during the last quarter. Finally, TCTC Holdings LLC bought a new stake in shares of Cummins in the fourth quarter valued at $28,000. 83.46% of the stock is owned by hedge funds and other institutional investors.

Cummins Stock Performance

NYSE:CMI opened at $332.02 on Friday. The stock has a market cap of $45.74 billion, a P/E ratio of 11.79, a PEG ratio of 2.19 and a beta of 1.02. The company has a quick ratio of 0.80, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average price is $303.94 and its two-hundred day moving average price is $341.35. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $387.90.

Cummins (NYSE:CMI) last released its quarterly earnings results on Monday, May 5th. The company reported $5.96 EPS for the quarter, topping analysts’ consensus estimates of $4.92 by $1.04. The business had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $8.22 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.08 EPS. As a group, equities analysts predict that Cummins Inc. will post 22.54 EPS for the current fiscal year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be paid a dividend of $1.82 per share. This represents a $7.28 annualized dividend and a yield of 2.19%. The ex-dividend date is Friday, May 23rd. Cummins’s dividend payout ratio (DPR) is currently 36.22%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CMI. Barclays lifted their price objective on Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. UBS Group cut shares of Cummins from a “buy” rating to a “sell” rating and dropped their price target for the company from $400.00 to $240.00 in a research note on Monday, April 7th. Evercore ISI lifted their price objective on shares of Cummins from $408.00 to $451.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. StockNews.com lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Finally, Citigroup boosted their price objective on Cummins from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cummins has a consensus rating of “Hold” and a consensus target price of $354.83.

Cummins Company Profile

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.