Toronto Dominion Bank grew its holdings in shares of 3M Co (NYSE:MMM) by 11.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 277,159 shares of the conglomerate’s stock after buying an additional 29,347 shares during the period. Toronto Dominion Bank’s holdings in 3M were worth $65,234,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Advisor Partners LLC boosted its stake in shares of 3M by 4.6% during the 3rd quarter. Advisor Partners LLC now owns 17,127 shares of the conglomerate’s stock valued at $3,595,000 after buying an additional 747 shares during the period. LMR Partners LLP acquired a new stake in shares of 3M in the 4th quarter valued at $1,916,000. Griffin Asset Management Inc. lifted its position in 3M by 51.7% during the 3rd quarter. Griffin Asset Management Inc. now owns 27,576 shares of the conglomerate’s stock worth $5,788,000 after acquiring an additional 9,394 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. acquired a new position in 3M during the 4th quarter worth $254,000. Finally, Personal Capital Advisors Corp lifted its position in 3M by 4.3% during the 4th quarter. Personal Capital Advisors Corp now owns 173,433 shares of the conglomerate’s stock worth $40,821,000 after acquiring an additional 7,120 shares during the last quarter. 66.89% of the stock is currently owned by institutional investors.
In related 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hak Cheol Shin sold 8,385 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $247.20, for a total transaction of $2,072,772.00. Following the sale, the insider now directly owns 120,105 shares in the company, valued at $29,689,956. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,806 shares of company stock valued at $13,162,628. Company insiders own 0.58% of the company’s stock.
Several research analysts have recently issued reports on MMM shares. Hilliard Lyons upgraded shares of 3M from a “neutral” rating to a “buy” rating and set a $285.00 price objective on the stock in a report on Wednesday, January 24th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $278.00 target price on the stock in a research note on Tuesday, January 23rd. Argus restated a “buy” rating on shares of 3M in a research report on Friday, December 22nd. Citigroup upped their target price on shares of 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Finally, Vetr upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $250.06 price objective on the stock in a 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 given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $254.02.
Shares of 3M Co (NYSE MMM) traded down $3.28 during midday trading on Wednesday, hitting $234.29. 2,238,528 shares of the stock were exchanged, compared to its average volume of 2,612,814. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04. 3M Co has a 1 year low of $188.62 and a 1 year high of $259.77. The firm has a market cap of $139,900.00, a P/E ratio of 25.55, a P/E/G ratio of 2.23 and a beta of 1.10.
3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. The business had revenue of $7.99 billion during 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%. 3M’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.88 EPS. sell-side analysts expect that 3M Co will post 10.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were paid a $1.36 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $5.44 annualized dividend and a dividend yield of 2.32%. 3M’s dividend payout ratio is presently 59.32%.
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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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