Massachusetts Financial Services Co. MA Cuts Stake in Cummins (CMI)

Massachusetts Financial Services Co. MA trimmed its position in Cummins (NYSE:CMI) by 64.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,365 shares of the company’s stock after selling 41,216 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cummins were worth $3,624,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Cummins by 104.5% in the 4th quarter. Victory Capital Management Inc. now owns 149,873 shares of the company’s stock worth $26,474,000 after purchasing an additional 76,584 shares during the period. Green Square Capital LLC raised its holdings in shares of Cummins by 24.9% in the 4th quarter. Green Square Capital LLC now owns 47,852 shares of the company’s stock worth $8,452,000 after purchasing an additional 9,542 shares during the period. ARP Americas LP raised its holdings in shares of Cummins by 438.2% in the 4th quarter. ARP Americas LP now owns 20,997 shares of the company’s stock worth $3,709,000 after purchasing an additional 17,096 shares during the period. Koch Industries Inc. raised its holdings in shares of Cummins by 303.7% in the 4th quarter. Koch Industries Inc. now owns 6,645 shares of the company’s stock worth $1,174,000 after purchasing an additional 4,999 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of Cummins by 53.4% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 28,561 shares of the company’s stock worth $5,045,000 after purchasing an additional 9,939 shares during the period. Institutional investors own 81.37% of the company’s stock.

Shares of Cummins opened at $149.06 on Wednesday, according to MarketBeat. Cummins has a fifty-two week low of $140.60 and a fifty-two week high of $194.18. The company has a quick ratio of 0.99, a current ratio of 1.58 and a debt-to-equity ratio of 0.19. The company has a market cap of $24.88 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 0.97 and a beta of 1.24.



Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, May 1st. The company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.39. Cummins had a return on equity of 23.47% and a net margin of 4.33%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.18 billion. During the same quarter last year, the firm earned $2.36 EPS. Cummins’s quarterly revenue was up 21.4% on a year-over-year basis. equities analysts expect that Cummins will post 13.67 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be paid a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $4.32 dividend on an annualized basis and a yield of 2.90%. Cummins’s dividend payout ratio (DPR) is presently 40.68%.

CMI has been the topic of a number of research reports. TheStreet upgraded Cummins from a “c+” rating to a “b” rating in a report on Tuesday, May 1st. Zacks Investment Research upgraded Cummins from a “hold” rating to a “buy” rating and set a $193.00 target price on the stock in a report on Friday, February 9th. Wells Fargo & Co reiterated a “buy” rating and set a $195.00 target price (down from $210.00) on shares of Cummins in a report on Thursday, February 22nd. ValuEngine upgraded Cummins from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Argus dropped their target price on Cummins to $175.00 and set a “buy” rating on the stock in a report on Friday, May 11th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $171.45.

Cummins Company Profile

Cummins Inc designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products worldwide. It operates through four segments: Engine, Distribution, Components, and Power Systems segments. The Engine segment manufactures and markets a range of diesel and natural gas powered engines under the Cummins and other customer brands for the heavy-and medium-duty truck, bus, recreational vehicle, light-duty automotive, construction, mining, marine, rail, oil and gas, defense, and agricultural markets.

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Institutional Ownership by Quarter for Cummins (NYSE:CMI)

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