Dividend Assets Capital LLC grew its stake in 3M (NYSE: MMM – Get Rating) by 2.7% during the fourth quarter, HoldingsChannel reports. The firm owned 3,697 shares of the conglomerate’s stock after purchasing an additional 98 shares during the quarter. Dividend Assets Capital LLC’s holdings in 3M were worth $ 657,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the company. Kovack Advisors Inc. increased its holdings in shares of 3M by 1.1% in the fourth quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock valued at $ 922,000 after purchasing an additional 56 shares during the period. HNP Capital LLC increased its holdings in shares of 3M by 0.8% in the fourth quarter. HNP Capital LLC now owns 6,959 shares of the conglomerate’s stock valued at $ 1,236,000 after purchasing an additional 57 shares during the period. Murphy Middleton Hinkle & Parker Inc. increased its holdings in shares of 3M by 0.7% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 8,960 shares of the conglomerate’s stock valued at $ 1,592,000 after purchasing an additional 60 shares during the period. CRA Financial Services LLC grew its holdings in 3M by 2.3% during the fourth quarter. CRA Financial Services LLC now owns 2,636 shares of the conglomerate’s stock worth $ 468,000 after acquiring an additional 60 shares during the period. Finally, Allworth Financial LP grew its holdings in 3M by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,513 shares of the conglomerate’s stock worth $ 1,335,000 after acquiring an additional 62 shares during the period. 67.22% of the stock is currently owned by institutional investors and hedge funds.
NYSE MMM opened at $ 130.94 on Friday. The business’s 50-day moving average price is $ 146.68 and its 200 day moving average price is $ 157.07. 3M has a twelve month low of $ 130.33 and a twelve month high of $ 203.21. The company has a market capitalization of $ 74.51 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 1.30 and a beta of 0.92. The company has a current ratio of 1.58, a quick ratio of 1.00 and a debt-to-equity ratio of 0.99.
3M (NYSE: MMM – Get Rating) last released its earnings results on Tuesday, April 26th. The conglomerate reported $ 2.65 earnings per share for the quarter, topping the estimate consensus of $ 2.33 by $ 0.32. 3M had a return on equity of 39.35% and a net margin of 15.84%. The firm had revenue of $ 8.80 billion for the quarter, compared to the consensus estimate of $ 8.75 billion. During the same period in the prior year, the business posted $ 2.77 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts predict that 3M will post 10.84 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Shareholders of record on Friday, May 20th were paid a dividend of $ 1.49 per share. The ex-dividend date was Thursday, May 19th. This represents a $ 5.96 annualized dividend and a yield of 4.55%. 3M’s dividend payout ratio is presently 62.02%.
In other 3M news, CEO Michael F. Roman sold 10,610 shares of the company stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $ 146.21, for a total transaction of $ 1,551,288.10. Following the completion of the sale, the chief executive officer now directly owns 90,361 shares in the company, valued at $ 13,211,681.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mojdeh Poul sold 1,634 shares of the stock in a transaction dated Tuesday, May 17th. The shares were sold at an average price of $ 151.68, for a total value of $ 247,845.12. Following the completion of the sale, the insider now owns 7,637 shares of the company stock, valued at approximately $ 1,158,380.16. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company stock.
A number of research analysts recently weighed in on the company. UBS Group dropped their price objective on 3M from $ 168.00 to $ 118.00 and set a “sell” rating on the stock in a report on Friday, March 11th. Citigroup dropped their price objective on 3M from $ 157.00 to $ 151.00 in a report on Wednesday, April 27th. Credit Suisse Group dropped their objective price on 3M from $ 173.00 to $ 161.00 and set a “neutral” rating on the stock in a report on Wednesday, April 27th. Morgan Stanley dropped their price objective on 3M from $ 150.00 to $ 145.00 and set an “underweight” rating on the stock in a report on Thursday, April 7th. Finally, Barclays dropped their price target on 3M from $ 155.00 to $ 146.00 and set an “underweight” rating on the stock in a report on Wednesday, April 27th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, 3M has a consensus rating of “Hold” and an average price target of $ 164.00.
3M Company Profile: (Get Rating)
3M Company operates as a diversified technology company worldwide. It operates through four segments: Safety and Industrial; Transportation and Electronics; Health Care; and Consumer. The Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.
Featured Stories:
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M (NYSE: MMM – Get Rating).
Receive News & Ratings for 3M Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for 3M and related companies with MarketBeat.com’s FREE daily email newsletter.
.