Argi Investment Services buys $2,714,557 stake in Cummins (CMI)

Cummins (CMI) : Argi Investment Services scooped up 688 additional shares in Cummins during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 21,420 shares of Cummins which is valued at $2,714,557.Cummins makes up approximately 0.26% of Argi Investment Services’s portfolio.

Other Hedge Funds, Including , Tiemann Investment Advisors boosted its stake in CMI in the latest quarter, The investment management firm added 29 additional shares and now holds a total of 2,466 shares of Cummins which is valued at $312,516. Cummins makes up approx 0.28% of Tiemann Investment Advisors’s portfolio. Cable Hill Partners added CMI to its portfolio by purchasing 108 company shares during the most recent quarter which is valued at $13,537. Cummins makes up approx 0.01% of Cable Hill Partners’s portfolio.Trust Co Of Vermont boosted its stake in CMI in the latest quarter, The investment management firm added 1,431 additional shares and now holds a total of 2,705 shares of Cummins which is valued at $318,000. Cummins makes up approx 0.04% of Trust Co Of Vermont’s portfolio.Capstone Asset Management Co reduced its stake in CMI by selling 1,580 shares or 8.33% in the most recent quarter. The Hedge Fund company now holds 17,398 shares of CMI which is valued at $2,055,226. Cummins makes up approx 0.06% of Capstone Asset Management Co’s portfolio.

Cummins opened for trading at $126.09 and hit $126.305 on the upside on Tuesday, eventually ending the session at $125.66, with a gain of 0.25% or 0.31 points. The heightened volatility saw the trading volume jump to 9,97,939 shares. Company has a market cap of $21,191 M.

On the company’s financial health, Cummins reported $2.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.22 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $2.18. The company had revenue of $4528.00 million for the quarter, compared to analysts expectations of $4498.39 million. The company’s revenue was down -9.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.62 EPS.

Many Wall Street Analysts have commented on Cummins. Cummins was Downgraded by Standpoint Research to ” Hold” on Jul 14, 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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