Dixon Hubard Feinour & Brown Inc. VA decreased its holdings in shares of 3M Company (NYSE:MMM) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,293 shares of the conglomerate’s stock after selling 450 shares during the quarter. Dixon Hubard Feinour & Brown Inc. VA’s holdings in 3M were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of MMM. MPS Loria Financial Planners LLC acquired a new position in shares of 3M during the 2nd quarter valued at $124,000. Hoertkorn Richard Charles acquired a new position in shares of 3M during the 3rd quarter valued at $126,000. Proficio Capital Partners LLC lifted its holdings in shares of 3M by 156.0% during the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 404 shares in the last quarter. Harfst & Associates Inc. lifted its holdings in shares of 3M by 17.0% during the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 100 shares in the last quarter. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 66.33% of the company’s stock.
Shares of 3M Company (NYSE:MMM) opened at $240.30 on Friday. The stock has a market cap of $143,120.00, a PE ratio of 26.62, a PEG ratio of 2.58 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. 3M Company has a 12 month low of $173.55 and a 12 month high of $244.23.
3M (NYSE:MMM) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.15 EPS. sell-side analysts forecast that 3M Company will post 9.09 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th will be paid a $0.0118 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.02%. 3M’s dividend payout ratio (DPR) is presently 52.46%.
In other news, Chairman Inge G. Thulin sold 6,823 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.14, for a total value of $1,590,714.22. Following the sale, the chairman now owns 196,906 shares in the company, valued at approximately $45,906,664.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Nicholas C. Gangestad sold 4,004 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.84, for a total transaction of $936,295.36. Following the sale, the chief financial officer now directly owns 25,805 shares of the company’s stock, valued at approximately $6,034,241.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,804 shares of company stock worth $5,303,706. Company insiders own 0.58% of the company’s stock.
Several research firms recently weighed in on MMM. Jefferies Group restated a “buy” rating and set a $234.00 target price on shares of 3M in a report on Wednesday, August 16th. Stifel Nicolaus boosted their price objective on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a report on Wednesday, October 25th. Morgan Stanley boosted their price objective on shares of 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $248.00 price objective on the stock in a report on Wednesday, October 25th. Finally, Goldman Sachs Group reiterated a “sell” rating on shares of 3M in a report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $231.16.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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