Capital Planning Advisors LLC raised its holdings in 3M Co (NYSE:MMM) by 23.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,575 shares of the conglomerate’s stock after purchasing an additional 300 shares during the quarter. Capital Planning Advisors LLC’s holdings in 3M were worth $371,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Lenox Wealth Advisors Inc. boosted its stake in 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 during the last quarter. Horan Capital Management bought a new position in shares of 3M during the 4th quarter worth approximately $123,000. Sawyer & Company Inc bought a new position in shares of 3M during the 4th quarter worth approximately $138,000. Field & Main Bank bought a new stake in shares of 3M in the 4th quarter worth approximately $140,000. Finally, Mascoma Wealth Management LLC raised its holdings in shares of 3M by 87.5% in the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after purchasing an additional 350 shares during the period. 66.89% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on MMM shares. Argus reissued a “buy” rating on shares of 3M in a report on Friday, December 22nd. Royal Bank of Canada restated a “hold” rating and set a $254.00 price target on shares of 3M in a research report on Thursday, January 25th. ValuEngine lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $264.00 price target for the company in a research report on Thursday, January 4th. Finally, Deutsche Bank upped their price target on shares of 3M from $180.00 to $240.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $254.02.
Shares of 3M Co (NYSE MMM) traded down $3.26 during mid-day trading on Wednesday, hitting $234.31. 1,536,821 shares of the stock traded hands, compared to its average volume of 2,596,158. 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 company has a market cap of $139,900.00, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 2.23 and a beta of 1.10. 3M Co has a 12-month low of $188.62 and a 12-month high of $259.77.
3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. 3M had a net margin of 15.35% and a return on equity of 48.34%. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same period in the previous year, the firm posted $1.88 EPS. 3M’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities analysts expect that 3M Co will post 10.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 12th. Investors of record on Friday, February 16th were paid a dividend of $1.36 per share. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.32%. 3M’s payout ratio is currently 59.32%.
In other news, EVP Frank R. Jr. Little sold 3,133 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $236.85, for a total value of $742,051.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael F. Roman sold 4,146 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the completion of the sale, the executive vice president now owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,806 shares of company stock valued at $13,162,628. 0.58% of the stock is owned by corporate insiders.
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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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