Mason Street Advisors LLC Buys 1,815 Shares of Cummins Inc. (NYSE:CMI)

Mason Street Advisors LLC boosted its stake in shares of Cummins Inc. (NYSE:CMI) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,479 shares of the company’s stock after acquiring an additional 1,815 shares during the quarter. Mason Street Advisors LLC’s holdings in Cummins were worth $3,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Gradient Investments LLC grew its stake in shares of Cummins by 102.8% during the second quarter. Gradient Investments LLC now owns 146 shares of the company’s stock valued at $25,000 after buying an additional 74 shares during the last quarter. Krane Funds Advisors LLC purchased a new stake in Cummins during the second quarter worth $26,000. Kempen Capital Management N.V. purchased a new stake in Cummins during the second quarter worth $29,000. Sonora Investment Management LLC purchased a new stake in Cummins during the second quarter worth $32,000. Finally, Lenox Wealth Advisors LLC purchased a new stake in Cummins during the second quarter worth $33,000. 84.41% of the stock is currently owned by institutional investors.

A number of analysts have weighed in on CMI shares. Standpoint Research lowered Cummins from a “buy” rating to a “hold” rating in a report on Tuesday, July 16th. Barclays restated a “hold” rating and set a $159.00 target price on shares of Cummins in a report on Wednesday, October 16th. Cfra lowered Cummins from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Credit Suisse Group upped their target price on Cummins from $198.00 to $203.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Co upped their target price on Cummins from $165.00 to $180.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company’s stock. Cummins currently has an average rating of “Hold” and a consensus price target of $172.53.

Shares of CMI traded down $3.33 during midday trading on Wednesday, hitting $180.76. 437,088 shares of the company’s stock traded hands, compared to its average volume of 1,269,367. Cummins Inc. has a 1 year low of $124.40 and a 1 year high of $186.73. The firm’s fifty day moving average is $168.92 and its 200-day moving average is $163.25. The company has a current ratio of 1.52, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $28.54 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.91 and a beta of 1.13.

Cummins (NYSE:CMI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $3.83 EPS for the quarter, missing the consensus estimate of $3.84 by ($0.01). Cummins had a net margin of 10.53% and a return on equity of 28.52%. The business had revenue of $5.77 billion for the quarter, compared to analysts’ expectations of $5.87 billion. During the same quarter in the prior year, the company posted $4.05 EPS. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. On average, equities research analysts anticipate that Cummins Inc. will post 15.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $1.311 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $5.24 dividend on an annualized basis and a yield of 2.90%. Cummins’s dividend payout ratio (DPR) is 39.61%.

About Cummins

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.

Read More: How to Invest in Stocks with Increasing Dividends

Want to see what other hedge funds are holding CMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cummins Inc. (NYSE:CMI).

Institutional Ownership by Quarter for Cummins (NYSE:CMI)

Receive News & Ratings for Cummins Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cummins and related companies with MarketBeat.com's FREE daily email newsletter.