CMI new 52 hi

CMI new 52 hi

Cummins Announces Final Results of Exchange Offer and Finalizes Separation of Atmus Filtration Technologies Inc. (3/18/24)

Today, Cummins Inc. (NYSE: CMI) (“Cummins”) announced the final results of its previously announced offer to its shareholders to exchange their shares of Cummins common stock for shares of Atmus Filtration Technologies Inc. (NYSE: ATMU) (“Atmus”) common stock owned by Cummins. The exchange offer expired at 12:00 midnight, New York City time, at the end of the day on March 13, 2024.

Pursuant to the exchange offer, Cummins has accepted 5,574,051 shares of Cummins common stock in exchange for 67,054,719 shares of Atmus common stock.

Because the exchange offer was oversubscribed, Cummins accepted only a portion of the shares of its common stock that were validly tendered and not properly withdrawn, on a pro rata basis in proportion to the number of shares tendered. Shareholders who owned fewer than 100 shares of Cummins common stock, or an “odd-lot,” who validly tendered all of their shares, were not subject to proration, in accordance with the terms of the exchange offer. All shares validly tendered by eligible “odd-lot” shareholders were accepted. The final proration factor of 6.99255200% was applied to all other validly tendered shares of Cummins common stock that were subject to proration to determine the number of such shares that were accepted.

Following completion of the exchange offer, Cummins did not retain any outstanding shares of Atmus common stock.

“Through this final separation, we are pleased to bring the greatest value to both Cummins and Atmus shareholders,” said Jennifer Rumsey, Chair and Chief Executive Officer of Cummins. “Cummins will continue its focus on advancing innovative power solutions, while Atmus is now well positioned to advance its filtration technologies, grow into new markets, and help both existing and new customers be successful. We are proud of our employees’ hard work and all who were involved to ensure a successful separation, and we are excited to see what the future holds for both Cummins and Atmus.”

Based on the final count by the exchange agent, Broadridge Corporate Issuer Solutions, LLC, the final results of the exchange offer are as follows:

Total number of shares of Cummins common stock validly tendered and not validly withdrawn: 65,176,180
Shares tendered that were subject to proration: 64,081,568
“Odd-lot” shares tendered that were not subject to proration: 1,094,612
Total number of shares of Cummins common stock accepted: 5,574,051
Shares of Cummins common stock tendered but not accepted for exchange will be returned to the tendering shareholders in book-entry form promptly. In addition, the exchange agent will promptly credit shares of Atmus common stock for distribution in the exchange offer in book-entry form to accounts maintained by the Atmus transfer agent for tendering shareholders whose shares of Cummins common stock were accepted in the exchange offer. Cash in lieu of fractional shares of Atmus common stock will be delivered after the exchange agent has aggregated all fractional shares and sold them in the open market.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC served as dealer managers for the exchange offer.

About Cummins

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. Headquartered in Columbus, Indiana, Cummins employs approximately 75,500 people committed to powering a more prosperous world. It operates a robust distribution and support network in more than 190 countries and territories. Cummins reported net sales of approximately $34.1 billion for the year ended December 31, 2023.

https://www.businesswire.com/news/home/20240318925736/en/

Cummins Announces Final Exchange Ratio of 12.0298 in Split-Off of Atmus Filtration Technologies Inc. (3/11/24)

Today, Cummins Inc. (NYSE: CMI) (“Cummins”) announced the final exchange ratio for its previously announced split-off exchange offer to Cummins shareholders to exchange their shares of common stock of Cummins for shares of common stock of Atmus Filtration Technologies Inc. (NYSE: ATMU) (“Atmus”) currently held by Cummins.

For each share of Cummins common stock that is validly tendered and not properly withdrawn by shareholders and that is accepted by Cummins pursuant to the exchange offer, Cummins will deliver 12.0298 shares of Atmus common stock to or at the direction of any such tendering shareholder.

Based on the final exchange ratio, Cummins currently expects to accept for exchange approximately 5,574,051 shares of Cummins common stock if the exchange offer is fully subscribed. Because the exchange offer will be subject to proration if the exchange offer is oversubscribed, the number of shares of Cummins common stock that Cummins accepts in the exchange offer may be less than the number of shares validly tendered by Cummins shareholders.

The exchange offer is currently scheduled to expire at 12:00 midnight, New York City time, at the end of the day on March 13, 2024, unless terminated or extended.

Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are the dealer managers for the exchange offer.

About Cummins

Cummins Inc., a global power leader, is a corporation of complementary business segments that design, manufacture, distribute and service a broad portfolio of power solutions. Headquartered in Columbus, Indiana, Cummins employs approximately 75,500 people committed to powering a more prosperous world. It operates a robust distribution and support network in more than 190 countries and territories. Cummins reported net sales of approximately $34.1 billion for the year ended December 31, 2023.

https://www.businesswire.com/news/home/20240311061899/en/

Retail Investors Could Make $2,000 on Cummins Exchange Offer. Here’s How. (3/08/24)

Story by Andrew Bary

An exchange offer by Cummins, the diesel engine maker, for shares in Atmus Filtration Technologies allows small investors to fully participate and potentially make about $2,000 on the trade in the next week or so.

The $1.5 billion exchange offer, which expires on March 13, is appealing because Cummins investors will be able to swap their shares for Atmus at a 7% discount, subject to certain conditions. That means a Cummins holder would get $107.53 of Atmus stock for every $100 of Cummins stock tendered, according to Cummins.

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Cummins shares were up 1.8% to $271.02 Friday, while Atmus was down 2.2% to $23.60. The S&P 500 was down 0.5%.

The offer is expected to be oversubscribed, resulting in a proration, meaning participating Cummins holders likely will get just a fraction of their shares exchanged for Atmus stock. The proration is expected to be about 10%, meaning a Cummins holder who wants to swap 1,000 shares may get only 10% of that stake, or 100 shares, exchanged for Atmus.

There is, however, a so-called odd-lot exception to the proration. Small investors who hold less than 100 shares of Cummins and tender their entire investments won’t be subject to proration. This is similar to what occurred in Johnson & Johnson’s exchange offer for Kenvue last summer.

This can allow investors to buy 99 shares of Cummins and fully participate in the tender.

Here is some rough potential math. An investor could buy 99 shares of Cummins for about $26,700 and then participate in the tender. The holder stands to get $107.53 for every $100 of Cummins stock tendered, or about $28,700. That is a profit of around $2,000.

Related video: Retail investors buy the dip: Here's what you need to know (CNBC)

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Retail investors buy the dip: Here's what you need to know
However, an S-4 filing states that those who hold less than 100 shares, but don’t fully tender all their stock, will be subject to proration.

What are the risks? Atmus stock could fall between the time the investor buys the Cummins stock and when the investor gets the Atmus shares, which should occur in the next two weeks or so. There also is a cap of about 13.4 on the number of Atmus shares that Cummins will pay out. The current ratio is below that cap at around 12.

The ratio will be set based on volume weighted average price of Cummins and Atmus stock on March 7, 8, and 11. The pricing information is updated daily on a website.

While the tender deadline is March 13, individual brokerage firms have their own deadlines for retail clients. For Schwab (and TD Ameritrade) customers, the deadline is March 11. Schwab customers could purchase the stock Friday (for settlement Tuesday) and be able to participate in the tender process.

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For clients of Fidelity Investments, the deadline is March 12, with Fidelity handling tenders on March 13 on a best-efforts basis by 2 p.m. Eastern.

Atmus makes filters for trucks, heavy equipment, trains, and other applications. It was taken public in May 2023, when 19.5% of the company, or 16.2 million shares, were issued at $19.50 a share and Cummins retained 80.5%, or 67 million shares. Those 67 million shares will be swapped in the exchange offer.

Atmus is an inexpensive stock relative to other filtration companies such as Donaldson. Its stock trades for about 10 times projected 2024 earnings, based on the company’s guidance of $2.10 to $2.35 in profit this year.

https://www.msn.com/en-us/money/markets/retail-investors-could-make-2-000-on-cummins-exchange-offer-here-s-how/ar-BB1jzErP

CMI new 52 week high

https://www.benzinga.com/trading-ideas/long-ideas/21/09/23120672/plug-powers-stock-climbs-as-tesla-fuelcell-energy-push-the-ev-sector

I'm somewhat surprised no one posted the news on the new 15 liter engine cummins just announced.

As a former logistic manager who ran a fleet of trucks I agree with what Cummins is saying about THIS GAME CHANGER ENGINE. Yes it has the potential to be a game changer. And yes just in time for the infrastructure that will hav e numerous companies buying heavy duty dump trucks, cement mixers, and heavy duty equipment. The biggest advantage I can see in this new engine is the weight reduction. 500# is a big deal in many of these trucks, hauling cement, gravel, for road construction and just all around use. top it all off its NatGas power.

Good call. I hope you hung on to your buy.
I bought more recently but still a steady climb.

I don't know why CMI likes to give the impression future business looks slim, but they do. I know they like to under promise then over deliver. I've seen this behavior for years with this company.

Engine sales will continue to grow. NatGas engine sales are very good. Green energy is on fire which is going to mean hydrogen is looking more promising.

Whats not to like. Is someone trying to accumulate shares?

News: $CMI Why Cummins Stock Jumped 11.5% in July Despite Dismal Earnings

Shares of Cummins (NYSE: CMI) rallied 11.5% higher in July, according to data provided by  S&P Global Market Intelligence , despite the engine maker delivering a dud quarter at the end of July. Cummins shares, though, held up strong through the month. Investors clearly believe Cumm...

Find out more CMI - Why Cummins Stock Jumped 11.5% in July Despite Dismal Earnings

Buying here

https://www.dailymail.co.uk/news/article-7592485/Father-eight-invents-electric-car-battery-drivers-1-500-miles-without-charging-it.html

https://beta.companieshouse.gov.uk/company/12219849/filing-history

https://www.metalectrique.com/

News: $CMI Siemens Mobility's Locomotive Success is Good News for Cummins' QSK95 Engine System and the Environment

2018 was a great year for Siemens Mobility’s popular Charger locomotives, which means Cummins Inc. (NYSE: CMI) employees will be keeping busy over the next few years. That’s because the locomotives will continue to use Cummins’ QSK95 Tier 4 engine systems to help deliver...

Find out more https://marketwirenews.com/news-releases/siemens-mobility-s-locomotive-success-is-good-news-for-cummins-qsk95-engine-system-and-the-environment-7552482.html

News: $CMI Lightest and Most Productive Class 8 Engine is Available in Western Star® 4700

Cummins Inc. (NYSE: CMI) announced today that the Cummins X12 engine is available in Western Star 4700 trucks and tractors. “Cummins is excited about the positive impact our X12 will have in weight-sensitive markets,” said Brett Merritt, Vice President − Cummins On-H...

Got this from https://marketwirenews.com/news-releases/lightest-and-most-productive-class-8-engine-is-available-in-western-star-xae-4700-7439164.html

Yeah, I've seen a few downgrades the last few days for CMI. The stock goes down, and then the analysts pile on the downgrades.

Gives a meaning to analysts "following" the market...

This doesn't seem like much of a reason to downgrade CMI? Sales are the best they've been in years

Buckingham cashes in some chips on Cummins

May 2, 2018 11:09 AM ET|About: Cummins Inc. (CMI)|By: Yoel Minkoff, SA News Editor
With the company warning of additional charges yesterday amid "ongoing uncertainty related to a product campaign," Buckingham has downgraded Cummins (CMI -2.2%) to Neutral from Buy.

The $160 price target (lowered from $205) only suggests another 6%+ upside.

I see absolutely nothing in the Q1 results that explains a 5% drop. Some one time charges, but for the most part it was a great report!?

the question that I have been asking is HOW MANY WILL CUMMINS SELL THIS YEAR? With an engine that is this zero free, would think many would want it. Tesla way to unpredictable in my book. Weight and cost also be a deal breaker. The ISX12N is available for order right this minute.

Cummins Westport ISX12N Natural Gas Engine Certified for 2018

https://cumminsengines.com/showcase-item.aspx?id=392&title=ISX12N+(2018)#overview

and if you have goobs of time
http://www.cumminswestport.com/press-releases/2017/cummins-westport OR

https://search.tb.ask.com/search/GGmain.jhtml?searchfor=Cummins+Westport+ISX12N+Natural+Gas+Engine+Certified+for+2018&n=78489531&p2=%5EAYZ%5Exdm236%5ETTAB02%5Eus&ptb=536FCAEF-FF20-4F1B-8218-BF80528EAF03&qs=&si=&ss=sub&st=sb&tpr=sbt&ts=1522454126279

Interesting isn't it. 300,000 class 8 tractors will be sold in 2018. I suspect the majority will have CMI power. Maybe a fair percentage will have the NatGas engine.
the stock drops because of a Tesla introduction that no one knows if it will actually be able to do the job and is twice as expensive then any internal combustion engine.

My God, pie-in-the-sky, super hype crap. Unbelievable!!

Cummins Inc (NYSE:CMI) Tanks After Tesla Semi Debut

Today, most of the leading truck engine manufacturers are coming under heavy selling pressure after electric vehicle maker, Tesla Inc (NASDAQ:TSLA), announced that they are now making electric trucks. Truck engine stocks such as Cummins Inc (NYSE:CMI), Paccar Inc (NASDAQ:PCAR) and Navistar International Corp (NYSE:NAV) are plunging lower on the news.

Cummins Inc (NYSE:CMI) is trading lower by $6.82 to $160.32 a share. Traders should note that CMI stock is now testing its daily chart 200-day moving average. At this time, this important moving average is holding up as support, but a close below this critical moving average would be negative for the stock. The next major support level for CMI stock would be around the $150.00 area. This is where CMI was defended in August 2017 and should serve as a major support when initially retested. Keep this level on the radar for CMI stock as a major bounce level.



Nicholas Santiago
InTheMoneyStocks

I see a whole new wave of engine buying taking place. What say you

5yr DCF valuation analyses implies Cummins $CMI is highly undervalued... earnings Thursday:

Full DCF Analysis

Check out this latest news

The Obama administration is expected to issue final rules today reducing greenhouse gas emissions from trucks over the next decade, likely one of the last major climate-related rules President Obama will issue before he leaves office.The final regulations, which aim to cut 1B metric tons of emissions, will be a game-changer for tractor-trailers, buses and other large vehicles with model years 2021 through 2027.

CMI already has a complaint engine for this new regulation. I feel this could be a gold mine for CLNE, WPRT, and CMI.

Then it wouldn't work, they've never sold a single working unit, lol.

Add a Coates CSRV rotary valve system and then you will really have something.

The Cummins Engine – Best Add-On To Dodge Rams
https://mentertained.com/hummer-h1-vs-new-dodge-ram-part-2/?v=2

I own shares of Cummins and will stick with them also. Pays a good dividend. Their shares will pop as soon as Coates makes their mega orders. Stick with Cummins and Coates.

$CMI Daily and Weekly Charts

CÔTE unloads massive dumplings of diluted converted shares routinely! All behind their good ole gagged transfer agent.

Cummins is real, stick there IMO.

Cummins is so real they are interested in the Coates technology. Look for Cummins to get a lot more real if they establish a joint venture with Coates.

Coates has not made a public offering to sell stock in over seven years. When stock is sold on the open market, the seller receives the funds, not Coates. Thousands of people invest in Coates on the open market. (Over 65% of all outstanding shares according to the latest information available.)

http://www.otcmarkets.com/stock/COTE/profile

It is the nature of pink sheet stocks that all funds invested can be lost. Before you invest in any pink sheet stock, do your own DD and decide for yourself if this company is right for you.

Coates is a scam stinky pink desperately trying to find new bag holders here. Cummins is real.

Are there any Cummins stock holders concerned enough to look into this? I am a CMI stockholder and I am very concerned about the prospects of a joint venture with Coates International Ltd. This could change the culture of diesel engine manufacturing.

There is talk of a possible joint venture between Coates and Cummins but no such agreement has been announced.

Coates is having difficulty getting parts from their suppliers at this time, according to George Coates.

When their parts suppliers are able to deliver a steady stream of parts, that is when you may see some serious production, IMO.

Wait for it...

CUMMINS POWER SYSTEMS, LLC EXECUTIVES VISIT COATES INTERNATIONAL HEADQUARTERS WHERE THEY OBSERVED A NUMBER OF COATES CSRV ENGINES AND GEN SETS IN OPERATION ON THURSDAY, JANUARY 28, 2016 AND INSPECTED THE CUMMINS 250 KW NATURAL GAS GEN SET THAT CUMMINS SHIPPED TO COATES THAT THE COMPANY IS RETROFITTING WITH THE COATES CSRV SYSTEM

Not Coates, they haven't even tested their "engine" yet.

Still waiting for "parts", lol. That company does nothing but make promises, sell shares, then forget. For literally years of sub penny pink. Recycle, stick to Cummins, it's real.

Cummins is coming out with their new NatGas engine this year. Near zero emissions. I suspect they may have purchased the rights of some of Cote's patents. Westport / CMI / COTES. Interesting!!

Coates International is a sub penny stinky pink with a gagged transfer agent and massive ongoing dilution of converted shares.

Lol, they have way too many "firm orders" that have vanished after shares were sold.

Cummins is real, CÔTE is trying to name drop to sell more worthless shares before the pre-authed reverse split is thrown. IMO.

Trying buying Cummins, solid from these levels.

This technology applies not just to the Cummins engine but can be adapted to all engines. Coates is a start up company with technology never before developed.

This information is a few months old but here is your answer in the words of the Coates CEO, Mr George Coates:

COATES INTERNATIONAL, LTD. HAS BEEN CONTACTED BY CERTAIN PEOPLE, ENTITIES AND INSTITUTIONS TO EXPLAIN HOW THE COMPANY CAN CLAIM THAT THE COATES CSRV PATENTED INTERNAL COMBUSTION ENGINE IS THE MOST ADVANCED IN THE WORLD

Wall Township, NJ – (Marketwired – July 9, 2015) Coates International, Ltd. (OTC PINK: COTE) (the “Company”) Directors asked Company President and CEO, Mr. George J. Coates, to respond.

Comments:

The poppet valve engine has been around for more than 100 years and the poppet valves, camshafts, cam followers, rockers, tappets, and push rods are the biggest problems in the design of the poppet valve internal combustion engine. Manufacturers have tried everything to make the poppet valve engine more efficient adding more poppet valves, overhead camshafts, turbo chargers, and super chargers. All of these attempts have made very little improvements that will never meet with new regulations, EPA and carbon reduction world standards, it will be quite impossible to create a poppet valve engine that will meet the new required standards of internal combustion engine thermal efficiencies.

On the other hand, here at Coates International, Ltd. we have designed the most advanced CSRV internal combustion engine in the world. We claim this because of the following:

1. In a N.14 or 855 Cummins industrial engine, we eliminate 2,700 parts and components out of that engine.

2. Eliminate the oil pressure supply to the head of the engine and only utilize the engine oil pressure for the cranks shaft bearing supply to the lower half of the cylinders.

3. We replace all 2,700 parts with only two assembly CSRV rotating shafts and two floating seals for each cylinder.

4. Greater volumetric efficiency up to double that of the poppet valve has been achieved.

5. Utilizing higher compression ratios of 12 to 1 and up to 20 to 1. Poppet valve engines in vehicles using gasoline are approximately 11 to 1, Caterpillar, Cummins 8.5 to 1 operating on natural gas and only operate as stand by emergency systems and not constant operating service.

6. The Coates CSRV engines have been independently tested and have proven results with more (H.P.), higher (R.P.M.s), lower fuel consumption, higher thermal efficiencies while producing lower harmful emissions released into our atmosphere.

7. The Coates CSRV engines operate on natural gas, CNG, LNG, propane, hydrogen, gasoline, diesel, and a combination of these fuels.

8. Poppet valves cannot operate higher than 8.5 to 1 compression ratio operating on LNG, CNG because the poppet valves are constantly in the combustion chamber and get red hot, when the constant temperature of the combustion chamber exceeds 2,400° F when it does, it manufactures No X. (oxides of nitrogen) and Co. (carbon monoxide) and uses much more fuel the engine thermal efficiency is reduced. The governments around the world are asking the impossible of the poppet engine.

9. The Coates CSRV Spherical Rotary Valve System constantly rotates away from the combustion chamber heat using incoming air to cool the inlet and cooling the exhaust with a water cooling system through the center of the exhaust assembly shaft; 35 gallons of water per minute.

10. There is no servicing or adjusting or maintenance to the CSRV system for the life of the engine.

11. Engine oil changes are extended to 50,000 miles or more.

12. The reason poppet valve engines do not last operating on natural gas; this fuel does not have any lubricating properties contained in it. As a result, number 1. piston rings in poppet valve engines wear out in a very short time.

13. The Coates CSRV engines incorporate the patented Coates sequential fuel injection system that injects a minute amount of diesel fuel in with the natural gas that the engine operates on. This prevents excessive wear on number one piston rings.

- Incorporating higher compression ratios

- Incorporating greater volumetric efficiencies

- Less moving parts

- Utilizing a stoic metric mixture throughout the acceleration curve creates the highest thermal efficient internal combustion engine

All this technology was invented and designed by Mr. George J. Coates and his son, Gregory G. Coates, over more than 20 years. Many patents have been awarded from the USA and from most industrial countries around the world.

All of the above technology and design is the reason that we call this CSRV engine ((the most advanced internal combustion engine in the world.)) There is nothing out there that compares.

I hope this answers all of the questions that we have been receiving.

http://www.coatesengine.com/

Thanks for the information. I see you post on cotes. What advantage do they bring to cummins engine?

Also,

CUMMINS POWER SYSTEMS, LLC EXECUTIVES VISIT COATES INTERNATIONAL HEADQUARTERS WHERE THEY OBSERVED A NUMBER OF COATES CSRV ENGINES AND GEN SETS IN OPERATION ON THURSDAY, JANUARY 28, 2016 AND INSPECTED THE CUMMINS 250 KW NATURAL GAS GEN SET THAT CUMMINS SHIPPED TO COATES THAT THE COMPANY IS RETROFITTING WITH THE COATES CSRV SYSTEM

Maybe not five years from now... maybe this year. There is talk of a possible joint venture between Cummins Power and Coates International Ltd, maker of the CSRV rotating valve system that replaces the poppet valves and over 100 other parts, is far more economical and less polluting. Coates will have to get their engines from somewhere. This could result in a Cummins windfall.

Coates press release:

Wall Township, NJ – (Marketwired – February 2, 2015) For Immediate Release: Coates International, Ltd. (OTC PINK: COTE) (the “Company”) is pleased to announce that Executives from Cummins visited the Coates headquarters in New Jersey on Thursday, January 28, 2016, where they observed a number of Coates CSRV engines and generator sets in operation on natural gas, diesel and propane. They also took the opportunity to inspect the progress of the project to retrofit a Cummins 250 KW generator that was delivered to the Coates headquarters one month ago. Progress is being made with retrofitting the CSRV system to this unit. When completed, it will operate on natural gas or propane combined with diesel fuel. The gen set was for emergency or standby operations. When retrofitted with the Coates CSRV system it will be suitable for primetime operations.

In attendance at the meeting were Mr. Robert J. Volkman, Executive Director, Cummins Bridgeway LLC, Mr. Brian Cathcart, Territory Manager, Power Products, Cummins Power Generation and Mr. John Zamarra, General Manager, Power Generation Sales, Cummins Power Systems, LLC.

Scratching my head for sure? Predict 6% downside? Is that somehow a positive?

My stock for 2016 is FLEX, take a look see!!

Yeah the market seems to like it for now.

I haven't had much of a chance to review the report. The market must like something as it is up big.
I think their new NatGas engine will be a huge success. But it will take a few years.

What's your thoughts on the report? It seems like the news isn't good, but that was pretty priced into to the stock price. It may retest $80 again

Nice move higher today, hope you got some of those cheap shares.

It's just so cheap now. They are giving 50% of OCF to shareholders in the form of dividends or buybacks. I believe Credit Suisse has them with OCF of $14 a share in 2016, meaning we should see about $7. Things might not be great but CMI is still a cash cow.