Neumann Capital Management LLC lowered its holdings in shares of 3M Co (NYSE:MMM) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,092 shares of the conglomerate’s stock after selling 440 shares during the quarter. Neumann Capital Management LLC’s holdings in 3M were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. raised its holdings in shares of 3M by 16,300.0% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after purchasing an additional 489 shares in the last quarter. Horan Capital Management bought a new position in shares of 3M during the 4th quarter valued at $123,000. Sawyer & Company Inc bought a new position in shares of 3M during the 4th quarter valued at $138,000. Field & Main Bank bought a new position in shares of 3M during the 4th quarter valued at $140,000. Finally, Hoertkorn Richard Charles bought a new position in shares of 3M during the 3rd quarter valued at $126,000. Institutional investors and hedge funds own 66.09% of the company’s stock.
Shares of 3M Co (NYSE MMM) opened at $236.67 on Monday. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04. The stock has a market cap of $140,940.00, a price-to-earnings ratio of 25.81, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. 3M Co has a 12-month low of $182.04 and a 12-month high of $259.77.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.07. The company had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $1.88 EPS. sell-side analysts predict that 3M Co will post 10.59 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be given a $1.36 dividend. This represents a $5.44 annualized dividend and a yield of 2.30%. This is a positive change from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 15th. 3M’s dividend payout ratio (DPR) is currently 59.32%.
Several research analysts recently commented on the stock. Vetr upgraded shares of 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 target price on the stock in a report on Monday, February 12th. Deutsche Bank upgraded shares of 3M from a “hold” rating to a “buy” rating and lifted their target price for the stock from $240.00 to $275.00 in a report on Tuesday, February 13th. Barclays assumed coverage on shares of 3M in a report on Thursday. They issued an “underweight” rating and a $235.00 target price on the stock. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Royal Bank of Canada lifted their target price on shares of 3M from $205.00 to $209.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $254.25.
In other 3M news, Chairman Inge G. Thulin sold 35,236 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $251.14, for a total value of $8,849,169.04. Following the sale, the chairman now directly owns 253,873 shares in the company, valued at approximately $63,757,665.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicholas C. Gangestad sold 1,681 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.76, for a total transaction of $419,846.56. Following the completion of the sale, the chief financial officer now owns 23,562 shares in the company, valued at $5,884,845.12. The disclosure for this sale can be found here. Insiders sold a total of 49,673 shares of company stock worth $12,420,577 over the last 90 days. Company insiders own 0.58% of the company’s stock.
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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