Laurion Capital Management Lp adds Cummins (CMI) to its portfolio

Cummins (CMI) : Laurion Capital Management Lp added new position in Cummins during the most recent quarter end. The investment management firm now holds 133,100 shares of Cummins which is valued at $14.9 Million , the company said in a statement filed on May 13, 2016 with the SEC.Cummins makes up approximately 1.35% of Laurion Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Bokf Na reduced its stake in CMI by selling 3,119 shares or 33.25% in the most recent quarter. The Hedge Fund company now holds 6,262 shares of CMI which is valued at $700,029. Cummins makes up approx 0.03% of Bokf Na’s portfolio.Pinnacle Wealth Management Advisory Group boosted its stake in CMI in the latest quarter, The investment management firm added 755 additional shares and now holds a total of 3,875 shares of Cummins which is valued at $433,186. Cummins makes up approx 0.38% of Pinnacle Wealth Management Advisory Group’s portfolio. Copeland Capital Management sold out all of its stake in CMI during the most recent quarter. The investment firm sold 9,028 shares of CMI which is valued $1 Million.Ngam Advisors boosted its stake in CMI in the latest quarter, The investment management firm added 36,476 additional shares and now holds a total of 136,560 shares of Cummins which is valued at $15.7 Million. Cummins makes up approx 0.24% of Ngam Advisors’s portfolio.Russell Frank Co reduced its stake in CMI by selling 6,988 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 565,742 shares of CMI which is valued at $66.2 Million. Cummins makes up approx 0.12% of Russell Frank Co’s portfolio.

Cummins opened for trading at $110.55 and hit $113.45 on the upside on Wednesday, eventually ending the session at $113.17, with a gain of 3.15% or 3.46 points. The heightened volatility saw the trading volume jump to 20,29,115 shares. Company has a market cap of $19,280 M.

On the company’s financial health, Cummins reported $1.87 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on May 3, 2016. Analyst had a consensus of $1.78. The company had revenue of $4291.00 million for the quarter, compared to analysts expectations of $4305.79 million. The company’s revenue was down -8.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.04 EPS.

Many Wall Street Analysts have commented on Cummins. Company shares were Reiterated by RBC Capital Mkts on May 4, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 112 from a previous price target of $98 .Company shares were Downgraded by Robert W. Baird on Apr 21, 2016 to ” Underperform”, Firm has raised the Price Target to $ 110 from a previous price target of $96 .Cummins was Upgraded by BofA/Merrill to ” Neutral” on Apr 18, 2016.

Cummins Inc. is a global diesel engine manufacturer. The Company designs manufactures distributes and services diesel and natural gas engines and engine-related component products including filtration after treatment turbochargers fuel systems controls systems air handling systems and electric power generation systems. It has four operating segments: Engine Distribution Components and Power Generation. The Company sells its products to original equipment manufacturers (OEMs) distributors and other customers. It serves its customers through a network of around 600 Company-owned and independent distributor locations and around 7200 dealer locations in more than 190 countries. In addition engines and engine components are manufactured by the Company’s joint ventures or independent licensees at its manufacturing plants in the United States China India South Korea Mexico and Sweden. Its subsidiaries include Cummins India Ltd. and Wuxi Cummins Turbo Technologies Co. Ltd.

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