Hanlon Investment Management adds Cummins (CMI) to its portfolio

Cummins (CMI) : Hanlon Investment Management added new position in Cummins during the most recent quarter end. The investment management firm now holds 75,774 shares of Cummins which is valued at $8.5 Million , the company said in a statement filed on May 12, 2016 with the SEC.Cummins makes up approximately 0.77% of Hanlon Investment Management’s portfolio.

Other Hedge Funds, Including , Bluestein R H Co added CMI to its portfolio by purchasing 2,500 company shares during the most recent quarter which is valued at $279,475. Cummins makes up approx 0.02% of Bluestein R H Co’s portfolio.Advisor Partners reduced its stake in CMI by selling 637 shares or 23.53% in the most recent quarter. The Hedge Fund company now holds 2,070 shares of CMI which is valued at $231,405. Cummins makes up approx 0.09% of Advisor Partners’s portfolio.Seizert Capital Partners reduced its stake in CMI by selling 26,219 shares or 4.98% in the most recent quarter. The Hedge Fund company now holds 500,523 shares of CMI which is valued at $56 Million. Cummins makes up approx 1.95% of Seizert Capital Partners’s portfolio.Lsv Asset Management boosted its stake in CMI in the latest quarter, The investment management firm added 201,700 additional shares and now holds a total of 1,089,094 shares of Cummins which is valued at $121.7 Million. Cummins makes up approx 0.26% of Lsv Asset Management’s portfolio.Penserra Capital Management boosted its stake in CMI in the latest quarter, The investment management firm added 66 additional shares and now holds a total of 324 shares of Cummins which is valued at $36,220. Cummins makes up approx 0.01% of Penserra Capital Management’s portfolio.

Cummins opened for trading at $108.49 and hit $109.6 on the upside on Friday, eventually ending the session at $108.21, with a gain of 0.12% or 0.13 points. The heightened volatility saw the trading volume jump to 13,17,577 shares. Company has a market cap of $18,435 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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