Mesirow Financial Investment Management Inc. Invests $202,000 in Cummins Inc. (NYSE:CMI)

Mesirow Financial Investment Management Inc. bought a new position in Cummins Inc. (NYSE:CMI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 579 shares of the company’s stock, valued at approximately $202,000.

Several other large investors have also made changes to their positions in the company. Value Star Asset Management Hong Kong Ltd bought a new stake in shares of Cummins in the 4th quarter worth about $1,394,000. Edgestream Partners L.P. grew its holdings in shares of Cummins by 2,557.5% in the 4th quarter. Edgestream Partners L.P. now owns 19,453 shares of the company’s stock worth $6,781,000 after purchasing an additional 18,721 shares during the last quarter. Ashton Thomas Private Wealth LLC grew its holdings in shares of Cummins by 124.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 2,258 shares of the company’s stock worth $787,000 after purchasing an additional 1,252 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of Cummins in the 4th quarter worth about $463,000. Finally, Candriam S.C.A. grew its holdings in shares of Cummins by 35.3% in the 4th quarter. Candriam S.C.A. now owns 15,576 shares of the company’s stock worth $5,430,000 after purchasing an additional 4,065 shares during the last quarter. Institutional investors own 83.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup decreased their price objective on shares of Cummins from $435.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. StockNews.com lowered shares of Cummins from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Truist Financial increased their price objective on shares of Cummins from $424.00 to $425.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Cummins from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $355.00 to $420.00 in a report on Monday, December 9th. Finally, Barclays increased their price objective on shares of Cummins from $310.00 to $381.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $386.67.

Cummins Stock Performance

Cummins stock opened at $341.97 on Monday. The company has a current ratio of 1.31, a quick ratio of 0.80 and a debt-to-equity ratio of 0.42. Cummins Inc. has a 1 year low of $260.88 and a 1 year high of $387.90. The company has a market cap of $47.01 billion, a PE ratio of 12.14, a PEG ratio of 2.19 and a beta of 1.01. The company’s 50-day moving average is $361.77 and its two-hundred day moving average is $346.52.

Cummins (NYSE:CMI) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $8.45 billion for the quarter, compared to the consensus estimate of $8.06 billion. Cummins had a net margin of 11.57% and a return on equity of 27.12%. Cummins’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the company posted $4.14 EPS. Equities analysts anticipate that Cummins Inc. will post 22.54 earnings per share for the current year.

Cummins Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Investors of record on Friday, February 21st were given a $1.82 dividend. The ex-dividend date was Friday, February 21st. This represents a $7.28 dividend on an annualized basis and a dividend yield of 2.13%. Cummins’s dividend payout ratio is 25.84%.

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.