Seizert Capital Partners Lowers stake in Cummins (CMI)

Cummins (CMI) : Seizert Capital Partners reduced its stake in Cummins by 10.06% during the most recent quarter end. The investment management company now holds a total of 450,163 shares of Cummins which is valued at $57,049,157 after selling 50,360 shares in Cummins , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Cummins makes up approximately 2.04% of Seizert Capital Partners’s portfolio.

Other Hedge Funds, Including , Cleararc Capital Inc reduced its stake in CMI by selling 96 shares or 2.43% in the most recent quarter. The Hedge Fund company now holds 3,851 shares of CMI which is valued at $488,037. Cummins makes up approx 0.09% of Cleararc Capital Inc’s portfolio.Midwest Investment Management reduced its stake in CMI by selling 125 shares or 0.55% in the most recent quarter. The Hedge Fund company now holds 22,635 shares of CMI which is valued at $2,877,135. Cummins makes up approx 2.27% of Midwest Investment Management’s portfolio.Td Asset Management Inc boosted its stake in CMI in the latest quarter, The investment management firm added 1,430 additional shares and now holds a total of 72,280 shares of Cummins which is valued at $9,059,575. Cummins makes up approx 0.02% of Td Asset Management Inc’s portfolio.Sfe Investment Counsel boosted its stake in CMI in the latest quarter, The investment management firm added 55 additional shares and now holds a total of 4,345 shares of Cummins which is valued at $531,307. Cummins makes up approx 0.24% of Sfe Investment Counsel’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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