Tiemann Investment Advisors LLC Takes $1.11 Million Position in Cummins Inc. $CMI

Tiemann Investment Advisors LLC acquired a new position in Cummins Inc. (NYSE:CMI) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,559 shares of the company’s stock, valued at approximately $1,112,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CMI. Persistent Asset Partners Ltd acquired a new stake in Cummins in the second quarter valued at approximately $26,000. Elevation Wealth Partners LLC boosted its position in shares of Cummins by 91.7% in the 2nd quarter. Elevation Wealth Partners LLC now owns 46 shares of the company’s stock worth $33,000 after purchasing an additional 22 shares in the last quarter. Cedar Mountain Advisors LLC grew its stake in Cummins by 1,500.0% during the 1st quarter. Cedar Mountain Advisors LLC now owns 48 shares of the company’s stock worth $26,000 after buying an additional 45 shares during the last quarter. Activest Wealth Management grew its stake in Cummins by 537.5% during the 4th quarter. Activest Wealth Management now owns 51 shares of the company’s stock worth $26,000 after buying an additional 43 shares during the last quarter. Finally, Wellington Shields Capital Management LLC acquired a new position in Cummins during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Cummins Stock Performance

Shares of CMI stock opened at $642.56 on Tuesday. The business has a fifty day moving average of $664.99 and a 200 day moving average of $628.02. Cummins Inc. has a 1 year low of $389.52 and a 1 year high of $737.76. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.73 and a quick ratio of 1.13. The firm has a market capitalization of $88.45 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 1.50 and a beta of 1.24.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $6.73 earnings per share for the quarter, missing the consensus estimate of $7.21 by ($0.48). The firm had revenue of $9.46 billion for the quarter, compared to analysts’ expectations of $9.33 billion. Cummins had a net margin of 7.82% and a return on equity of 25.29%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.43 EPS. As a group, research analysts expect that Cummins Inc. will post 30.15 earnings per share for the current year.

Cummins Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Friday, August 21st will be issued a dividend of $2.20 per share. This represents a $8.80 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Cummins’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Friday, August 21st. Cummins’s dividend payout ratio is presently 40.88%.

Analyst Upgrades and Downgrades

CMI has been the subject of a number of research analyst reports. Evercore reiterated an “outperform” rating and issued a $845.00 price target on shares of Cummins in a research note on Monday, May 11th. Robert W. Baird set a $700.00 price target on Cummins in a research note on Wednesday, May 6th. Raymond James Financial upped their price objective on shares of Cummins from $675.00 to $745.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Morgan Stanley increased their price objective on shares of Cummins from $752.00 to $761.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Finally, UBS Group lowered their target price on shares of Cummins from $850.00 to $835.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $745.64.

Cummins Profile

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.