Historically, industrial dividend growth stocks such as engine maker Cummins (CMI) have done a great job of enriching long-term investors, especially if you’ve reinvested the dividends.

For example, Cummins has delivered an annualized total return of 15.4% since mid-1995, nearly doubling the Standard & Poor's 500’s 8.5% annual total return.

However, Cummins has fallen on hard times in recent years while its share price has returned over 70% since early 2016, creating potential concerns for value-focused investors.

Let’s take a closer look under the hood of this venerable blue-chip dividend stock to see if and when its business

Chris Davis (Trades, Portfolio) is the portfolio manager of Davis Financial Fund, an independent, employee-owned investment management firm founded in 1969. Davis Advisors manages more than $60 billion across several different asset classes.

Here are the stocks in his portfolio that are trading below the Peter Lynch value.

Apple Inc. (AAPL) is trading at $114 per share, and the Peter Lynch value gives the stock a fair price of $216.50, giving the stock a margin of safety of 48%.

The stock is trading with a PE ratio of 13.22, higher than 62% of companies in the

Scott Black (Trades, Portfolio), a financial manager widely followed for his staunch Graham-Dodd value strategy, invested in 11 new companies in the third quarter as he sold out of his positions in 13.

Black purchases only U.S. companies that have good businesses when they sell at a cheap price, regardless of market conditions. His Boston-based Delphi Management uses proprietary research to find underpriced stocks and holds Berkshire Hathaway (BRK.B) as their largest position.

At the end of the third quarter, the firm’s portfolio contained 101 stocks valued at $637 million. Consumer cyclical stocks composed 26% and technology

Executive Vice President and CIO of Markel Corp. (MKL) Tom Gayner (Trades, Portfolio) is known for his patience and common sense. Profiled by Jason Zweig in The Wall Street Journal in May, Zweig wrote that Gayner doesn’t hold analyst days or provide guidance on future earnings, which attracts investors who are in for the long term.

Over the past 15 years, Gayner has had an average annual return of 11.3%, compared to just 4.2% for the S&P 500. During the third quarter, Gayner purchased nine new holdings, of which the following are the five largest new

While ModernGraham supports the bottom-up approach to investing, many investors do utilize the top-down method, whereby an industry is selected before the company itself. With that in mind, this article will take a brief look at the best companies of the auto industry, selecting the most promising investment opportunities within the industry and giving a broad look into the industry as a whole.

Out of the more than 560 companies reviewed by ModernGraham, 15 were identified as being closely related to the auto industry. Of those, only one is suitable for the Defensive Investor, four are suitable for the Enterprising

The United States has one of the largest automotive markets in the world and provides a unique and significant contribution to the U.S. economy. Despite several hiccups, the auto sector is performing well due to increased gasoline sales, changes in consumer demand, and due to a good economy. One of the players in this industry with positive momentum is PACCAR Inc. (PCAR).

PACCAR is one of the world's largest designers and manufacturers of big rig diesel trucks. It makes light, medium, and heavy trucks for the North American and European markets under the Kenworth, Peterbilt, Foden, DAF, and Leyland Trucks

PACCAR (PCAR) is seeing tremendous traction for its DAF vehicles in the European market. It recorded 13.8% market share, with 16 tonne truck market totalling about 227,000 units in 2014. Looking forward, the company expects its European above 16-tonne truck market to grow in the range of 200,000 to 240,000 vehicles in fiscal 2015. This is really an encouraging growth and should improve its bottom line performance this year. Moreover, the U.K economy is expected to grow more than 2% this year that should add extra growth to its truck market.

Better times ahead

It reported better than expected results

Paccar (PCAR) ended fiscal 2014 with an excellent performance in the recently reported fourth quarter. The company performed well due to positive contribution from all its segments. There are several favourable aspects for Paccar, including the anticipated boom in the heavy truck market. Let us have a look at its prospects in detail.

Doing well on the back of strong products

Paccar has been consistently performing well on the exchange as well. The company has also succeeded in adding good value to its shareholder’s wealth in the past. It has declared dividend of $1.86 per share, which is a solid

Paccar (PCAR) recently announced third quarter 2014 revenue of $4.93 billion, an increase of 15 percent compared to $4.30 billion during the same period last year. It also exceeded the analysts' expectation of $4.55 billion, according to Zacks.

Paccar reported third quarter 2014 net income of $371 million or diluted EPS of 1.04 compared to net income of $309 million or diluted EPS of 0.87 during third quarter of 2013. The results also topped the Wall Street expectations and estimate of analysts surveyed by Zacks Investment Research for earnings of 97 cents per share.

Robust growth

Paccar illustrated excellent quarterly

Paccar (PCAR) recently reported impressive financial numbers for the third quarter of 2014. The recent economic recovery and dwindling fuel prices are accelerating its sales numbers. Also, the growing freight volumes and refreshed fleets of the North American truck companies played a major role in its earnings this quarter.

Results and beyond

The Bellevue, Washington-based company for the third-quarter posted net sales of $4.93 billion, an uptick of 14% from $4.3 billion in the same quarter last year. Also, its net income rose 20% to $371.4 million or earnings of $1.04 per share as against $309.4 million or earnings of

Paccar (PCAR) recently released strong results for the third quarter. The company impressed everyone with strong growth in revenue and net income. Paccar’s strong results were due to strong truck sales in the U.S. and Canada. The company’s management is now confident of a better performance in the coming quarters. Paccar is confident as it sees rising demand for trucks and aftermarket parts in the coming year. With the future looking bright, Paccar seems well on track with its strategies and plans. Let us have a closer look.

A closer look at the results

Paccar posted revenue of $4.93

Paccar (PCAR) recently released its results for the second quarter. Its results were impressive with a good increase in both the top and bottom lines. Paccar’s management thinks that the strong results reflect the benefits of an increase in truck sales in the U.S. and Canada. The company is also seeing good demand for aftermarket parts and financial services. With this strong traction, Paccar seems well positioned for better results in the future. Let us take a closer look at Paccar’s moves, as well as some other peers that can be a threat to the company in this booming and

Cummins (CMI) designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products. The company has been a value creator in the past and will continue to be a value creator in the future. This article discusses some of the key factors that make Cummins an excellent long-term investment.

Long-Term Supply To Solid Customers

Cummins supplies engines and other products to thousands of customers worldwide. However, the company has medium to long-term supply agreements with some strong companies. These agreements ensure that Cummins will have a steady revenue stream.

The company’s largest customer is PACCAR (PCAR) and

Paccar (PCAR) is an example of an out-of-the-spotlight holding in the Portfolio. Although not a household name, this more than 100-year-old company is the largest manufacturer of trucks in North America and also has a substantial and growing global presence. Paccar’s brands, including Kenworth and Peterbilt in the United States and DAF in Europe, have earned a reputation for high quality and longevity. Financially strong and resilient, the company regularly buys back shares and has paid a dividend every year since 1941. Management’s interests are aligned with shareholders’ as Paccar’s founding family owns nearly 30% of the company.

From

The trucking industry has seen an important slow down since the last economic crisis. Competition has turned extreme among the few great players, offering enough discount to the point where some operate at a loss. Navistar International (NAV) is an example of a troubled player aiming to secure market share while facing great financial troubles. Someone who has done better is PACCAR (PCAR), but it remains to be seen whether the stock is a good investment in the long-term. The stock displays some interesting financial characteristics for such and investment, but gurus have shown little interest on it. Hence, this