Albert D Mason Inc. Sells 3,599 Shares of Cummins Inc. $CMI

Albert D Mason Inc. lowered its holdings in Cummins Inc. (NYSE:CMI) by 49.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,687 shares of the company’s stock after selling 3,599 shares during the quarter. Cummins makes up about 1.2% of Albert D Mason Inc.’s investment portfolio, making the stock its 26th largest holding. Albert D Mason Inc.’s holdings in Cummins were worth $1,882,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new position in Cummins during the 3rd quarter valued at $28,000. Osterweis Capital Management Inc. purchased a new stake in shares of Cummins in the 2nd quarter worth about $31,000. Holos Integrated Wealth LLC purchased a new stake in shares of Cummins in the 4th quarter worth about $32,000. Guerra Advisors Inc bought a new stake in shares of Cummins during the 3rd quarter valued at about $36,000. Finally, Salomon & Ludwin LLC raised its stake in Cummins by 1,333.3% in the third quarter. Salomon & Ludwin LLC now owns 86 shares of the company’s stock worth $37,000 after buying an additional 80 shares in the last quarter. 83.46% of the stock is currently owned by institutional investors.

Cummins Stock Down 4.4%

Shares of Cummins stock opened at $529.03 on Friday. The company’s 50 day moving average is $572.17 and its 200 day moving average is $504.28. The company has a market cap of $73.09 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.75 and a beta of 1.12. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.51. Cummins Inc. has a twelve month low of $260.02 and a twelve month high of $617.98.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Thursday, February 5th. The company reported $5.81 EPS for the quarter, topping the consensus estimate of $5.17 by $0.64. Cummins had a return on equity of 25.71% and a net margin of 8.44%.The company had revenue of $8.54 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same quarter in the previous year, the company posted $5.16 earnings per share. Cummins’s revenue was up 1.1% compared to the same quarter last year. Research analysts anticipate that Cummins Inc. will post 22.54 EPS for the current year.

Cummins Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a $2.00 dividend. The ex-dividend date was Friday, February 20th. This represents a $8.00 annualized dividend and a yield of 1.5%. Cummins’s dividend payout ratio (DPR) is presently 38.99%.

Insiders Place Their Bets

In related news, VP Earl Newsome sold 1,300 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $583.67, for a total value of $758,771.00. Following the completion of the sale, the vice president directly owned 3,389 shares of the company’s stock, valued at approximately $1,978,057.63. This represents a 27.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Donald G. Jackson sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $600.13, for a total transaction of $960,208.00. Following the sale, the vice president owned 7,214 shares in the company, valued at approximately $4,329,337.82. The trade was a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 31,195 shares of company stock valued at $18,397,489. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and set a $703.00 target price (up from $653.00) on shares of Cummins in a report on Friday, February 6th. JPMorgan Chase & Co. upped their price target on Cummins from $485.00 to $580.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Wells Fargo & Company increased their price objective on Cummins from $599.00 to $630.00 and gave the stock an “overweight” rating in a report on Friday, January 23rd. Morgan Stanley restated an “overweight” rating and issued a $675.00 price objective on shares of Cummins in a report on Friday, February 6th. Finally, Sanford C. Bernstein set a $600.00 target price on Cummins and gave the stock a “market perform” rating in a report on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $588.93.

Cummins Company Profile

Cummins Inc (NYSE: CMI) is a global power technology company that designs, manufactures, distributes and services a broad portfolio of diesel and natural gas engines, electrified powertrains, power generation systems and related components. Founded in 1919 and headquartered in Columbus, Indiana, Cummins has grown into one of the world’s leading suppliers of internal combustion engines and a provider of technologies that reduce emissions and improve fuel efficiency.

The company’s product lineup includes heavy-, medium- and light-duty engines for on-highway and off-highway applications, generator sets and power systems for commercial and industrial use, and key engine components such as turbochargers, fuel systems, air handling, filtration and aftertreatment solutions.