Cummins Inc. (NYSE:CMI) was the target of some unusual options trading activity on Wednesday. Stock traders acquired 14,738 put options on the company. This represents an increase of 1,106% compared to the typical volume of 1,222 put options.
Cummins (NYSE:CMI) opened at $164.05 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.57 and a debt-to-equity ratio of 0.19. The stock has a market cap of $27,230.00, a P/E ratio of 27.62, a P/E/G ratio of 1.17 and a beta of 1.14. Cummins has a 1-year low of $143.83 and a 1-year high of $194.18.
Cummins (NYSE:CMI) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.38. Cummins had a net margin of 4.89% and a return on equity of 22.18%. The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter last year, the firm posted $2.25 earnings per share. The firm’s revenue was up 21.6% compared to the same quarter last year. analysts expect that Cummins will post 11.94 EPS for the current year.
A number of large investors have recently modified their holdings of CMI. Boston Partners purchased a new position in Cummins during the third quarter valued at approximately $416,229,000. BlackRock Inc. lifted its holdings in Cummins by 8.3% during the fourth quarter. BlackRock Inc. now owns 11,675,250 shares of the company’s stock valued at $2,062,319,000 after purchasing an additional 898,512 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in Cummins by 203.7% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 926,242 shares of the company’s stock valued at $155,636,000 after purchasing an additional 621,292 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Cummins by 107.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 1,186,164 shares of the company’s stock valued at $209,524,000 after purchasing an additional 613,102 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Cummins by 272.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 639,800 shares of the company’s stock valued at $113,014,000 after purchasing an additional 468,200 shares in the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Traders Purchase Large Volume of Put Options on Cummins (CMI)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/02/10/traders-purchase-large-volume-of-put-options-on-cummins-cmi.html.
Cummins Company Profile
Cummins Inc designs, manufactures, distributes and services diesel and natural gas engines and engine-related component products. The Company’s segments include Engine, Distribution, Components and Power Systems. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins brand name, as well as certain customer brand names, for the heavy and medium-duty truck, bus, recreational vehicle (RV), light-duty automotive and agricultural markets.
Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.