Signition LP purchased a new stake in shares of 3M Co (NYSE:MMM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,615 shares of the conglomerate’s stock, valued at approximately $380,000.
Other institutional investors also recently made changes to their positions in the company. Lenox Wealth Advisors Inc. lifted its stake 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 worth $116,000 after acquiring an additional 489 shares during the last quarter. Horan Capital Management bought a new position in shares of 3M in the 4th quarter worth $123,000. Sawyer & Company Inc bought a new position in shares of 3M in the 4th quarter worth $138,000. Field & Main Bank bought a new position in shares of 3M in the 4th quarter worth $140,000. Finally, Mascoma Wealth Management LLC grew its stake in 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 66.89% of the company’s stock.
Shares of 3M Co (MMM) traded down $3.28 on Wednesday, reaching $234.29. The company’s stock had a trading volume of 2,238,531 shares, compared to its average volume of 2,830,000. 3M Co has a 12 month low of $188.62 and a 12 month high of $259.77. The stock has a market cap of $139,520.00, a price-to-earnings ratio of 25.55, a PEG ratio of 2.23 and a beta of 1.10. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The firm had revenue of $7.99 billion during 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. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. equities analysts predict that 3M Co will post 10.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.36 dividend. The ex-dividend date was Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 annualized dividend and a yield of 2.32%. 3M’s payout ratio is 59.32%.
In related news, CFO Nicholas C. Gangestad sold 1,681 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were 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 directly owns 23,562 shares of the company’s stock, valued at approximately $5,884,845.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Inge G. Thulin sold 35,236 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the sale, the chairman now directly owns 253,873 shares of the company’s stock, valued at $63,757,665.22. The disclosure for this sale can be found here. Insiders sold a total of 52,806 shares of company stock valued at $13,162,628 over the last quarter. 0.58% of the stock is currently owned by insiders.
Several brokerages recently weighed in on MMM. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays assumed coverage on 3M in a research note on Thursday, February 15th. They issued an “underweight” rating and a $235.00 target price on the stock. Citigroup upped their price target on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. UBS Group initiated coverage on 3M in a report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 target price for the company. Finally, Vetr upgraded 3M from a “hold” rating to a “buy” rating and set a $250.06 price target for the company in a research report on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $254.02.
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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