Meristem Family Wealth LLC Purchases 4,074 Shares of 3M Co (NYSE:MMM)

Meristem Family Wealth LLC boosted its position in shares of 3M Co (NYSE:MMM) by 19.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,160 shares of the conglomerate’s stock after acquiring an additional 4,074 shares during the period. 3M makes up approximately 1.3% of Meristem Family Wealth LLC’s holdings, making the stock its 14th largest holding. Meristem Family Wealth LLC’s holdings in 3M were worth $4,361,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MMM. Lederer & Associates Investment Counsel CA boosted its holdings in 3M by 2.1% during the first quarter. Lederer & Associates Investment Counsel CA now owns 2,410 shares of the conglomerate’s stock valued at $501,000 after purchasing an additional 50 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its holdings in 3M by 35.2% during the first quarter. Shine Investment Advisory Services Inc. now owns 192 shares of the conglomerate’s stock valued at $40,000 after purchasing an additional 50 shares in the last quarter. Peoples Financial Services CORP. boosted its holdings in 3M by 0.3% during the first quarter. Peoples Financial Services CORP. now owns 16,027 shares of the conglomerate’s stock valued at $3,330,000 after purchasing an additional 50 shares in the last quarter. Bfsg LLC boosted its holdings in 3M by 0.4% during the first quarter. Bfsg LLC now owns 14,084 shares of the conglomerate’s stock valued at $2,926,000 after purchasing an additional 55 shares in the last quarter. Finally, Nwam LLC boosted its holdings in 3M by 1.0% during the first quarter. Nwam LLC now owns 5,853 shares of the conglomerate’s stock valued at $1,216,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 66.84% of the company’s stock.

In other 3M news, insider John Patrick Banovetz sold 1,040 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $170.40, for a total transaction of $177,216.00. Following the transaction, the insider now owns 5,974 shares of the company’s stock, valued at approximately $1,017,969.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.83% of the stock is currently owned by corporate insiders.

Shares of MMM traded down $4.84 on Friday, hitting $156.05. The company’s stock had a trading volume of 2,187,604 shares, compared to its average volume of 3,326,416. The company has a market capitalization of $92.63 billion, a PE ratio of 14.92, a PEG ratio of 1.83 and a beta of 1.09. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34. 3M Co has a fifty-two week low of $155.63 and a fifty-two week high of $219.75. The company has a 50 day moving average price of $169.20 and a 200 day moving average price of $186.41.

3M (NYSE:MMM) last announced its earnings results on Thursday, July 25th. The conglomerate reported $2.20 EPS for the quarter, topping the consensus estimate of $2.04 by $0.16. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. 3M’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.59 EPS. On average, equities analysts forecast that 3M Co will post 9.28 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Friday, August 16th will be issued a dividend of $1.44 per share. This represents a $5.76 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, August 15th. 3M’s dividend payout ratio is 55.07%.

MMM has been the topic of a number of recent research reports. Gordon Haskett downgraded 3M from a “buy” rating to a “hold” rating and set a $191.98 price objective on the stock. in a report on Monday, April 29th. Royal Bank of Canada set a $179.00 price objective on 3M and gave the company a “hold” rating in a report on Friday, July 26th. Citigroup reduced their target price on 3M from $221.00 to $197.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Bank of America reduced their target price on 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Deutsche Bank reduced their target price on 3M from $188.00 to $183.00 and set a “hold” rating on the stock in a report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. 3M presently has an average rating of “Hold” and an average price target of $182.54.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Read More: Intrinsic Value

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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