Polymer Capital Management HK LTD Buys Shares of 1,079 Cummins Inc. (NYSE:CMI)

Polymer Capital Management HK LTD bought a new stake in shares of Cummins Inc. (NYSE:CMI - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,079 shares of the company's stock, valued at approximately $376,000.

Other large investors also recently added to or reduced their stakes in the company. Global Trust Asset Management LLC grew its holdings in Cummins by 59.6% in the 4th quarter. Global Trust Asset Management LLC now owns 75 shares of the company's stock worth $26,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department purchased a new stake in Cummins in the 4th quarter worth approximately $26,000. Compass Financial Services Inc purchased a new position in shares of Cummins during the fourth quarter valued at approximately $27,000. Meeder Asset Management Inc. raised its holdings in shares of Cummins by 208.0% during the fourth quarter. Meeder Asset Management Inc. now owns 77 shares of the company's stock valued at $27,000 after acquiring an additional 52 shares in the last quarter. Finally, TCTC Holdings LLC purchased a new stake in Cummins in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 83.46% of the company's stock.

Cummins Price Performance

Shares of CMI traded up $4.25 during mid-day trading on Friday, reaching $286.00. The stock had a trading volume of 722,702 shares, compared to its average volume of 813,958. The business has a fifty day moving average of $335.61 and a 200 day moving average of $346.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market cap of $39.40 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 2.19 and a beta of 1.07. Cummins Inc. has a 12 month low of $260.02 and a 12 month high of $387.90.

Cummins (NYSE:CMI - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.70 by $0.46. Cummins had a return on equity of 27.12% and a net margin of 11.57%. The business had revenue of $8.45 billion during the quarter, compared to analyst estimates of $8.06 billion. During the same quarter in the prior year, the business posted $4.14 EPS. Cummins's revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts predict that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Friday, February 21st were paid a $1.82 dividend. The ex-dividend date of this dividend was Friday, February 21st. This represents a $7.28 annualized dividend and a yield of 2.55%. Cummins's payout ratio is 25.84%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CMI. Robert W. Baird increased their price objective on Cummins from $395.00 to $407.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. UBS Group cut shares of Cummins from a "buy" rating to a "sell" rating and lowered their price target for the company from $400.00 to $240.00 in a research report on Monday, April 7th. Evercore ISI upped their price objective on shares of Cummins from $408.00 to $451.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Truist Financial lowered their target price on shares of Cummins from $420.00 to $338.00 and set a "hold" rating for the company in a report on Tuesday. Finally, StockNews.com lowered Cummins from a "buy" rating to a "hold" rating in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $354.17.

About Cummins

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.