First Command Bank lifted its holdings in 3M Co (NYSE:MMM) by 2.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,731 shares of the conglomerate’s stock after purchasing an additional 77 shares during the period. First Command Bank’s holdings in 3M were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the stock. HC Financial Advisors Inc. increased its position in 3M by 49.4% during the third quarter. HC Financial Advisors Inc. now owns 9,522 shares of the conglomerate’s stock valued at $2,006,000 after acquiring an additional 3,147 shares during the last quarter. Advisors Capital Management LLC increased its position in 3M by 596.7% in the fourth quarter. Advisors Capital Management LLC now owns 6,800 shares of the conglomerate’s stock worth $1,296,000 after buying an additional 5,824 shares in the last quarter. Clarkston Capital Partners LLC increased its position in 3M by 9.8% in the fourth quarter. Clarkston Capital Partners LLC now owns 42,398 shares of the conglomerate’s stock worth $8,078,000 after buying an additional 3,786 shares in the last quarter. Capital Investment Advisors LLC increased its position in 3M by 2.7% in the fourth quarter. Capital Investment Advisors LLC now owns 9,615 shares of the conglomerate’s stock worth $1,832,000 after buying an additional 255 shares in the last quarter. Finally, Stewart & Patten Co. LLC increased its position in 3M by 1.8% in the fourth quarter. Stewart & Patten Co. LLC now owns 117,400 shares of the conglomerate’s stock worth $22,369,000 after buying an additional 2,074 shares in the last quarter. Hedge funds and other institutional investors own 67.11% of the company’s stock.
In related news, Chairman Inge G. Thulin sold 5,863 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was sold at an average price of $207.78, for a total transaction of $1,218,214.14. Following the completion of the transaction, the chairman now directly owns 268,188 shares of the company’s stock, valued at $55,724,102.64. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joaquin Delgado sold 5,400 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $169.68, for a total value of $916,272.00. Following the transaction, the insider now directly owns 28,092 shares of the company’s stock, valued at $4,766,650.56. The disclosure for this sale can be found here. In the last ninety days, insiders bought 3,200 shares of company stock valued at $559,260. Corporate insiders own 0.83% of the company’s stock.
A number of analysts have commented on the company. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Morgan Stanley reduced their price target on 3M from $201.00 to $199.00 and set an “equal weight” rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. reduced their price target on 3M from $154.00 to $143.00 and set an “underweight” rating for the company in a research report on Friday, May 17th. Barclays reduced their price target on 3M from $189.00 to $188.00 and set an “underweight” rating for the company in a research report on Wednesday, April 3rd. Finally, Wolfe Research set a $174.00 price target on 3M and gave the stock a “sell” rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. 3M has a consensus rating of “Hold” and an average price target of $196.83.
NYSE MMM opened at $169.74 on Thursday. The stock has a market capitalization of $95.83 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 1.76 and a beta of 0.99. The company has a debt-to-equity ratio of 1.60, a current ratio of 2.02 and a quick ratio of 1.38. 3M Co has a twelve month low of $165.61 and a twelve month high of $219.75.
3M (NYSE:MMM) last released its quarterly earnings data on Thursday, April 25th. The conglomerate reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). The business had revenue of $7.86 billion during the quarter, compared to the consensus estimate of $8.02 billion. 3M had a return on equity of 57.42% and a net margin of 17.43%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the company earned $2.50 EPS. Equities research analysts predict that 3M Co will post 9.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th will be paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is 55.07%.
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3M Company Profile
3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.
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