Cummins (CMI) has risen sharply, recording gains of 6.98% in the past 4 weeks. However, the stock has corrected -0.67% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.21% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Cummins (NYSE:CMI): The stock opened at $118.32 on Friday but the bulls could not build on the opening and the stock topped out at $118.44 for the day. The stock traded down to $117.44 during the day, due to lack of any buying support eventually closed down at $118.21 with a loss of -0.21% for the day. The stock had closed at $118.46 on the previous day. The total traded volume was 1,058,932 shares.
The stock has recorded a 20-day Moving Average of 3.41% and the 50-Day Moving Average is 3.79%. Cummins Inc. is up 2.68% in the last 3-month period. Year-to-Date the stock performance stands at 36.82%.
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 7,200 dealer locations in more than 190 countries. In addition, engines and engine components are manufactured by the Companys 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.