Mayfair Advisory Group LLC grew its position in shares of 3M (NYSE: MMM – Get Rating) by 33.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,709 shares of the conglomerate’s stock after acquiring an additional 428 shares during the quarter. Mayfair Advisory Group LLC’s holdings in 3M were worth $ 256,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kovack Advisors Inc. increased its stake in shares of 3M by 1.1% during the fourth quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock valued at $ 922,000 after buying an additional 56 shares during the period. HNP Capital LLC grew its position in 3M by 0.8% during the 4th quarter. HNP Capital LLC now owns 6,959 shares of the conglomerate’s stock worth $ 1,236,000 after purchasing an additional 57 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. grew its position in 3M by 0.7% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 8,960 shares of the conglomerate’s stock worth $ 1,592,000 after purchasing an additional 60 shares during the last quarter. CRA Financial Services LLC grew its position in 3M by 2.3% during the 4th quarter. CRA Financial Services LLC now owns 2,636 shares of the conglomerate’s stock worth $ 468,000 after purchasing an additional 60 shares during the last quarter. Finally, Allworth Financial LP grew its position in 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 purchasing an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 67.22% of the company stock.
Shares of 3M stock opened at $ 134.33 on Friday. 3M has a 1 year low of $ 128.19 and a 1 year high of $ 203.21. The stock has a 50-day moving average price of $ 144.53 and a 200 day moving average price of $ 155.31. 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 company has a market cap of $ 76.44 billion, a P / E ratio of 13.98, a P / E / G ratio of 1.26 and a beta of 0.92.
3M (NYSE: MMM – Get Rating) last announced its quarterly earnings data 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 return on equity of 39.35% and a net margin of 15.84%. The company had revenue of $ 8.80 billion during the quarter, compared to the consensus estimate of $ 8.75 billion. During the same quarter last year, the company earned $ 2.77 EPS. The company quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that 3M will post 10.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 12th. Investors 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 dividend yield of 4.44%. 3M’s dividend payout ratio (DPR) is presently 62.02%.
In other news, insider Mojdeh Poul sold 1,634 shares of the company stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $ 151.68, for a total value of $ 247,845.12. Following the transaction, the insider now owns 7,637 shares of the company stock, valued at $ 1,158,380.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Roman sold 10,610 shares of the stock in a transaction that occurred 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 directly owns 90,361 shares in the company, valued at approximately $ 13,211,681.81. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on MMM shares. Morgan Stanley decreased their target price on shares of 3M from $ 150.00 to $ 145.00 and set an “underweight” rating for the company in a research note on Thursday, April 7th. Credit Suisse Group dropped their target price on shares of 3M from $ 173.00 to $ 161.00 and set a “neutral” rating for the company in a report on Wednesday, April 27th. Citigroup dropped their target price on shares of 3M from $ 157.00 to $ 151.00 in a report on Wednesday, April 27th. Barclays dropped their price objective on shares of 3M from $ 155.00 to $ 146.00 and set an “underweight” rating for the company in a report on Wednesday, April 27th. Finally, Royal Bank of Canada increased their target price on shares of 3M from $ 136.00 to $ 138.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 27th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $ 164.00.
3M 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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