Cummins Target of Unusually Large Options Trading (NYSE:CMI)

Cummins Inc. (NYSE:CMI) saw some unusual options trading on Monday. Stock traders acquired 8,915 put options on the company. This is an increase of approximately 1,855% compared to the average volume of 456 put options.

Several institutional investors have recently bought and sold shares of the company. Stratos Wealth Partners LTD. lifted its stake in shares of Cummins by 1.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 5,086 shares of the company’s stock valued at $680,000 after purchasing an additional 75 shares during the last quarter. Unison Advisors LLC lifted its position in Cummins by 0.7% during the 1st quarter. Unison Advisors LLC now owns 10,645 shares of the company’s stock worth $1,681,000 after acquiring an additional 75 shares during the last quarter. Whitener Capital Management Inc. lifted its position in Cummins by 2.8% during the 1st quarter. Whitener Capital Management Inc. now owns 2,800 shares of the company’s stock worth $442,000 after acquiring an additional 75 shares during the last quarter. Wetherby Asset Management Inc. lifted its position in Cummins by 1.6% during the 1st quarter. Wetherby Asset Management Inc. now owns 4,653 shares of the company’s stock worth $734,000 after acquiring an additional 75 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in Cummins by 3.1% during the 1st quarter. Trust Co. of Vermont now owns 2,918 shares of the company’s stock worth $461,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.

NYSE CMI traded up $0.06 on Wednesday, hitting $168.91. 765,826 shares of the stock were exchanged, compared to its average volume of 1,256,570. The business’s 50-day moving average price is $162.20. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.57 and a quick ratio of 0.96. Cummins has a 52-week low of $124.40 and a 52-week high of $171.84. The company has a market cap of $26.74 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 1.31 and a beta of 1.11.

Cummins (NYSE:CMI) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $4.20 EPS for the quarter, beating the consensus estimate of $3.51 by $0.69. Cummins had a net margin of 10.24% and a return on equity of 30.72%. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the previous year, the company posted $3.30 EPS. Cummins’s revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Cummins will post 16.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Friday, May 24th were issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Thursday, May 23rd. Cummins’s dividend payout ratio is currently 34.47%.

CMI has been the topic of a number of recent analyst reports. Credit Suisse Group lifted their price target on Cummins from $165.00 to $198.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Piper Jaffray Companies set a $195.00 target price on Cummins and gave the stock a “buy” rating in a report on Thursday, April 4th. Zacks Investment Research raised Cummins from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Friday, May 3rd. Citigroup raised Cummins from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $155.00 to $190.00 in a report on Tuesday, April 16th. Finally, Buckingham Research boosted their target price on Cummins from $160.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Cummins presently has an average rating of “Hold” and a consensus target price of $166.98.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of 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.

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