Mendel Capital Management LLC purchased a new stake in 3M (NYSE: MMM – Get Rating) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,741 shares of the conglomerate’s stock, valued at approximately $ 1,197,000. 3M accounts for approximately 1.1% of Mendel Capital Management LLC’s holdings, making the stock its 17th largest position.
Several other institutional investors have also recently bought and sold shares of MMM. Kovack Advisors Inc. boosted its position in shares of 3M by 1.1% during the 4th quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock worth $ 922,000 after purchasing an additional 56 shares during the period. HNP Capital LLC lifted its holdings 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 buying an additional 57 shares in the last quarter. Murphy Middleton Hinkle & Parker Inc. raised its holdings in shares of 3M by 0.7% in the 4th 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 in the last quarter. 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 valued at $ 468,000 after purchasing an additional 60 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of 3M by 0.8% in the 4th quarter. Allworth Financial LP now owns 7,513 shares of the conglomerate’s stock valued at $ 1,335,000 after purchasing an additional 62 shares in the last quarter. 67.22% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the stock. Royal Bank of Canada raised their price objective on shares of 3M from $ 136.00 to $ 138.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 27th. UBS Group lowered their target price on shares of 3M from $ 168.00 to $ 118.00 and set a “sell” rating on the stock in a report on Friday, March 11th. Credit Suisse Group reduced their price objective on shares of 3M from $ 173.00 to $ 161.00 and set a “neutral” rating for the company in a research note on Wednesday, April 27th. Citigroup cut their target price on shares of 3M from $ 157.00 to $ 151.00 in a research report on Wednesday, April 27th. Finally, Argus lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $ 165.14.
In other 3M news, CEO Michael F. Roman sold 10,610 shares of 3M stock in a transaction on 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 transaction, the chief executive officer now directly owns 90,361 shares of the company stock, valued at $ 13,211,681.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mojdeh Poul sold 1,634 shares of 3M 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 transaction, the insider now directly owns 7,637 shares of the company stock, valued at $ 1,158,380.16. The disclosure for this sale can be found here. Company insiders own 0.39% of the company stock.
NYSE: MMM opened at $ 135.25 on Wednesday. 3M has a 52 week low of $ 134.40 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. The stock’s 50 day moving average price is $ 147.37 and its 200 day moving average price is $ 157.54. The company has a market capitalization of $ 76.97 billion, a P / E ratio of 14.07, a P / E / G ratio of 1.34 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $ 2.33 by $ 0.32. The business had revenue of $ 8.80 billion for the quarter, compared to the estimate consensus of $ 8.75 billion. 3M had a net margin of 15.84% and a return on equity of 39.35%. 3M’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company posted $ 2.77 earnings per share. As a group, sell-side 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. 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 4.41%. 3M’s payout ratio is 62.02%.
About 3M: (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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