Will Cummins Inc. Go Down Anytime Soon? Option Trader Believe So

 Will Cummins Inc. Go Down Anytime Soon? Option Trader Believe So

In today’s session Cummins Inc. (CMI) recorded an unusually high (315) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious CMI decrease. With 315 contracts traded and 944 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: CMI161118P00122000 closed last at: $0.8 or 20% down. About 1.11 million shares traded hands. Cummins Inc. (NYSE:CMI) has risen 28.76% since April 8, 2016 and is uptrending. It has outperformed by 23.12% the S&P500.

Cummins Inc. (NYSE:CMI) Ratings Coverage

Out of 22 analysts covering Cummins (NYSE:CMI), 5 rate it a “Buy”, 4 “Sell”, while 13 “Hold”. This means 23% are positive. Cummins has been the topic of 49 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Thursday, December 17 by Deutsche Bank. The firm earned “Buy” rating on Monday, August 24 by Standpoint Research. Standpoint Research downgraded Cummins Inc. (NYSE:CMI) on Thursday, July 14 to “Hold” rating. The stock has “Outperform” rating given by Macquarie Research on Friday, February 5. The rating was downgraded by Morgan Stanley to “Underweight” on Wednesday, October 28. Stifel Nicolaus maintained Cummins Inc. (NYSE:CMI) on Wednesday, November 2 with “Hold” rating. Robert W. Baird downgraded the shares of CMI in a report on Thursday, April 21 to “Underperform” rating. The stock of Cummins Inc. (NYSE:CMI) earned “Hold” rating by Deutsche Bank on Wednesday, October 28. William Blair downgraded the shares of CMI in a report on Friday, September 25 to “Market Perform” rating. The stock of Cummins Inc. (NYSE:CMI) has “Hold” rating given on Tuesday, August 4 by Evercore.

According to Zacks Investment Research, “Cummins Inc. is one of the leading worldwide designers and manufacturers of diesel engines. The company also produces natural gas engines and engine components and subsystems. Cummins provides power and components for a wide variety of equipment in its key businesses: engine, power generation, and filtration.”

Insitutional Activity: The institutional sentiment decreased to 0.95 in Q2 2016. Its down 0.12, from 1.07 in 2016Q1. The ratio fall, as 75 funds sold all Cummins Inc. shares owned while 250 reduced positions. 62 funds bought stakes while 246 increased positions. They now own 134.04 million shares or 12.52% less from 153.23 million shares in 2016Q1.
State Of Wisconsin Investment Board has 97,109 shares for 0.04% of their US portfolio. Tarbox Group holds 0.01% of its portfolio in Cummins Inc. (NYSE:CMI) for 99 shares. Alexandria Capital Limited Com owns 202 shares or 0% of their US portfolio. Cwm accumulated 0.01% or 1,640 shares. First Personal Fin Ser has invested 0% of its portfolio in Cummins Inc. (NYSE:CMI). Canada Pension Plan Investment Board owns 252,913 shares or 0.12% of their US portfolio. Janus Management Ltd Co last reported 0% of its portfolio in the stock. Commonwealth Of Pennsylvania Public School Empls Retrmt holds 13,132 shares or 0.03% of its portfolio. New Mexico Educational Retirement Board last reported 0.09% of its portfolio in the stock. Beacon Mngmt Inc holds 200 shares or 0% of its portfolio. Private Wealth Advsr Inc holds 0.31% of its portfolio in Cummins Inc. (NYSE:CMI) for 5,691 shares. Of Vermont has 0.04% invested in the company for 2,705 shares. Moody State Bank Division holds 4,365 shares or 0.03% of its portfolio. Orrstown Financial, a Pennsylvania-based fund reported 7,328 shares. Moreover, Hanlon Investment Mgmt has 0.41% invested in Cummins Inc. (NYSE:CMI) for 41,867 shares.

Insider Transactions: Since May 12, 2016, the stock had 0 buys, and 14 insider sales for $5.38 million net activity. $97,368 worth of shares were sold by ROSE MARYA M on Thursday, May 12. Shares for $637,500 were sold by Ward Pat. $568,845 worth of shares were sold by Talaulicar Anant on Wednesday, May 25. The insider HUNT MARSHA L sold 500 shares worth $63,132. CHAPMAN STEVEN M sold $375,000 worth of stock. 5,981 shares were sold by Cook Jill E, worth $718,916 on Tuesday, July 26. Freeland Richard Joseph sold $312,500 worth of stock.

Cummins Inc. is a manufacturer of diesel engines. The company has a market cap of $24.46 billion. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. It has a 20.13 P/E ratio. The Company’s Engine segment makes 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 , light-duty automotive, agricultural and governmental equipment markets.

CMI Company Profile

Cummins Inc., incorporated on February 3, 1919, is a maker of diesel engines. The Firm designs, makes, 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. The Firm operates through four divisions: Engine, Distribution, Components and Power Generation. The Firm sells its products to original equipment manufacturers (OEMs), distributors and other clients across the world. The Firm serves its clients through a network of approximately 600 Company-owned and independent distributor locations and approximately 7,200 dealer locations in over 190 countries and territories. It has presence in the United States, China, India, South Korea, Mexico and Sweden.

Another recent and important Cummins Inc. (NYSE:CMI) news was published by Seekingalpha.com which published an article titled: “Cummins: Too Pricey” on November 07, 2016.

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