First Quadrant LLC CA acquired a new stake in shares of 3M (NYSE:MMM – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 231 shares of the conglomerate’s stock, valued at approximately $34,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Kovack Advisors Inc. raised its position in 3M by 1.1% in the fourth quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock worth $922,000 after purchasing an additional 56 shares in the last quarter. HNP Capital LLC grew its stake in shares of 3M by 0.8% in the 4th 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. CRA Financial Services LLC raised its holdings in shares of 3M by 2.3% in the 4th quarter. CRA Financial Services LLC now owns 2,636 shares of the conglomerate’s stock worth $468,000 after buying an additional 60 shares in the last quarter. Allworth Financial LP lifted its position in shares of 3M by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,513 shares of the conglomerate’s stock worth $1,335,000 after buying an additional 62 shares during the period. Finally, Stonehage Fleming Financial Services Holdings Ltd boosted its stake in 3M by 7.3% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 928 shares of the conglomerate’s stock valued at $164,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 67.22% of the company’s stock.
Shares of MMM stock opened at $128.49 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.00 and a debt-to-equity ratio of 0.99. The stock has a market cap of $73.12 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 1.25 and a beta of 0.95. The stock has a 50 day simple moving average of $142.59 and a 200 day simple moving average of $153.40. 3M has a 1-year low of $126.61 and a 1-year high of $203.21.
3M (NYSE:MMM – Get Rating) last announced its quarterly earnings data on Tuesday, April 26th. The conglomerate reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.32. The firm had revenue of $8.80 billion during the quarter, compared to analysts’ expectations of $8.75 billion. 3M had a return on equity of 39.35% and a net margin of 15.84%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.77 EPS. Analysts forecast that 3M will post 10.8 EPS for the current year.
The company also recently disclosed 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 dividend on an annualized basis and a yield of 4.64%. 3M’s payout ratio is 62.02%.
Several research firms have issued reports on MMM. StockNews.com initiated coverage on 3M in a research note on Thursday, March 31st. They set a “hold” rating for the company. Jefferies Financial Group dropped their price target on 3M from $161.00 to $145.00 in a report on Thursday, June 16th. Morgan Stanley dropped their price objective on shares of 3M from $150.00 to $145.00 and set an “underweight” rating for the company in a research report on Thursday, April 7th. Wells Fargo & Company reduced their target price on shares of 3M from $156.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on 3M from $167.00 to $164.00 and set a “hold” rating on the stock in a report on Wednesday, April 27th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.64.
In other 3M 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 completion of the transaction, the insider now directly owns 7,637 shares in the company, valued at $1,158,380.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Roman sold 10,610 shares of the company’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of $146.21, for a total value of $1,551,288.10. Following the sale, the chief executive officer now owns 90,361 shares of the company’s stock, valued at $13,211,681.81. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
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; auto body 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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