Albert D Mason Inc. grew its holdings in shares of 3M (NYSE:MMM – Get Rating) by 5.0% in the first quarter, Holdings Channel.com reports. The firm owned 2,008 shares of the conglomerate’s stock after buying an additional 95 shares during the period. Albert D Mason Inc.’s holdings in 3M were worth $299,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of the business. Voloridge Investment Management LLC purchased a new stake in shares of 3M in the third quarter worth about $2,244,000. Poehling Capital Management LLC lifted its holdings in shares of 3M by 9.6% in the fourth quarter. Poehling Capital Management LLC now owns 1,922 shares of the conglomerate’s stock worth $341,000 after buying an additional 168 shares in the last quarter. Gradient Investments LLC lifted its holdings in shares of 3M by 10.7% in the fourth quarter. Gradient Investments LLC now owns 70,544 shares of the conglomerate’s stock worth $12,531,000 after buying an additional 6,800 shares in the last quarter. KMG Fiduciary Partners LLC lifted its holdings in shares of 3M by 36.9% in the fourth quarter. KMG Fiduciary Partners LLC now owns 17,775 shares of the conglomerate’s stock worth $3,157,000 after buying an additional 4,793 shares in the last quarter. Finally, Legacy Private Trust Co. raised its stake in 3M by 2.3% in the fourth quarter. Legacy Private Trust Co. now owns 5,920 shares of the conglomerate’s stock valued at $1,051,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 67.22% of the company’s stock.
MMM has been the topic of a number of recent research reports. Morgan Stanley reduced their price target on shares of 3M from $150.00 to $145.00 and set an “underweight” rating on the stock in a research report on Thursday, April 7th. StockNews.com assumed coverage on shares of 3M in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Argus cut shares of 3M from a “buy” rating to a “hold” rating in a report on Thursday, April 28th. Jefferies Financial Group cut their price target on shares of 3M from $161.00 to $145.00 in a report on Thursday, June 16th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of 3M from $167.00 to $164.00 and set a “hold” rating on the stock in a report on Wednesday, April 27th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, 3M currently has an average rating of “Hold” and an average price target of $161.64.
In related news, CEO Michael F. Roman sold 10,610 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $146.21, for a total transaction of $1,551,288.10. Following the transaction, the chief executive officer now owns 90,361 shares in the company, valued at $13,211,681.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mojdeh Poul sold 1,634 shares of the stock in a transaction that occurred on Tuesday, May 17th. The shares were sold at an average price of $151.68, for a total transaction of $247,845.12. Following the transaction, the insider now owns 7,637 shares in the company, valued at approximately $1,158,380.16. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.
Shares of NYSE MMM opened at $129.77 on Thursday. The firm’s 50-day moving average price is $143.45 and its 200-day moving average price is $154.37. The company has a market cap of $73.85 billion, a PE ratio of 13.50, a P/E/G ratio of 1.30 and a beta of 0.92. 3M has a 52-week low of $128.19 and a 52-week high of $203.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.00 and a current ratio of 1.58.
3M (NYSE:MMM – Get Rating) last issued its earnings results on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.32. The firm had revenue of $8.80 billion for the quarter, compared to the consensus estimate of $8.75 billion. 3M had a net margin of 15.84% and a return on equity of 39.35%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.77 earnings per share. On average, analysts forecast that 3M will post 10.84 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Sunday, June 12th. Stockholders of record on Friday, May 20th were paid a $1.49 dividend. The ex-dividend date was Thursday, May 19th. This represents a $5.96 annualized dividend and a dividend yield of 4.59%. 3M’s dividend payout ratio is currently 62.02%.
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.
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