Chiron Capital Management LLC acquired a new position in shares of 3M (NYSE: MMM – Get Rating) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,150 shares of the conglomerate’s stock, valued at approximately $ 320,000.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its holdings in 3M by 0.4% during the 4th quarter. BlackRock Inc. now owns 41,810,186 shares of the conglomerate’s stock worth $ 7,426,745,000 after acquiring an additional 179,402 shares in the last quarter. State Street Corp grew its holdings in 3M by 1.5% during the 4th quarter. State Street Corp now owns 30,979,936 shares of the conglomerate’s stock worth $ 5,502,966,000 after acquiring an additional 450,546 shares in the last quarter. Geode Capital Management LLC grew its holdings in 3M by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 10,780,080 shares of the conglomerate’s stock worth $ 1,910,601,000 after acquiring an additional 127,388 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in 3M by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,557,291 shares of the conglomerate’s stock worth $ 1,875,293,000 after acquiring an additional 361,507 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in 3M by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 5,776,701 shares of the conglomerate’s stock worth $ 1,026,115,000 after acquiring an additional 171,857 shares in the last quarter. 67.22% of the stock is owned by institutional investors.
MMM stock opened at $ 132.80 on Tuesday. 3M has a 52 week low of $ 128.19 and a 52 week high of $ 203.21. The company has a market capitalization of $ 75.57 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.30 and a beta of 0.92. The firm’s 50-day moving average is $ 144.26 and its two-hundred day moving average is $ 154.71. 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 quarterly earnings results on Tuesday, April 26th. The conglomerate reported $ 2.65 EPS for the quarter, topping analysts’ consensus estimates of $ 2.33 by $ 0.32. 3M had a net margin of 15.84% and a return on equity of 39.35%. The company had revenue of $ 8.80 billion for the quarter, compared to the consensus estimate of $ 8.75 billion. During the same period in the previous year, the firm earned $ 2.77 EPS. 3M’s revenue was down .6% on a year-over-year basis. On average, equities research analysts predict that 3M will post 10.84 earnings per share for the current year.
The firm also recently disclosed 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 of this dividend was Thursday, May 19th. This represents a $ 5.96 annualized dividend and a dividend yield of 4.49%. 3M’s dividend payout ratio is currently 62.02%.
A number of research analysts have recently issued reports on MMM shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 3M from $ 167.00 to $ 164.00 and set a “hold” rating on the stock in a research report on Wednesday, April 27th. Barclays reduced their price target on shares of 3M from $ 155.00 to $ 146.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 27th. StockNews.com started coverage on shares of 3M in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Argus downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Finally, UBS Group reduced their price target on shares of 3M from $ 168.00 to $ 118.00 and set a “sell” rating on the stock in a research report on Friday, March 11th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $ 164.00.
In related news, insider Mojdeh Poul sold 1,634 shares of the business’s 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 directly owns 7,637 shares of the company stock, valued at $ 1,158,380.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Roman sold 10,610 shares of the business’s 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 directly owns 90,361 shares in the company, valued at $ 13,211,681.81. The disclosure for this sale can be found here. Company insiders own 0.39% of the company stock.
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.
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.