Northwest Investment Counselors LLC increased its holdings in shares of 3M (NYSE: MMM – Get Rating) by 8.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,299 shares of the conglomerate’s stock after purchasing an additional 1,100 shares during the period. Northwest Investment Counselors LLC’s holdings in 3M were worth $ 2,129,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MMM. Kovack Advisors Inc. boosted its holdings in shares of 3M by 1.1% during the 4th quarter. Kovack Advisors Inc. now owns 5,191 shares of the conglomerate’s stock valued at $ 922,000 after acquiring an additional 56 shares during the last quarter. HNP Capital LLC boosted its holdings in shares of 3M by 0.8% during the 4th quarter. HNP Capital LLC now owns 6,959 shares of the conglomerate’s stock valued at $ 1,236,000 after acquiring an additional 57 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. boosted its holdings in shares of 3M by 0.7% during the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 8,960 shares of the conglomerate’s stock valued at $ 1,592,000 after acquiring an additional 60 shares during the last quarter. CRA Financial Services LLC lifted its stake 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 purchasing an additional 60 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of 3M by 0.8% in 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 period. 67.22% of the stock is owned by institutional investors and hedge funds.
In other 3M news, CEO Michael F. Roman sold 10,610 shares of 3M stock in a transaction 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mojdeh Poul sold 1,634 shares of 3M stock in a transaction on Tuesday, May 17th. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.39% of the company stock.
MMM has been the topic of several recent research reports. UBS Group lowered their price objective on shares of 3M from $ 168.00 to $ 118.00 and set a “sell” rating on the stock in a research note on Friday, March 11th. Credit Suisse Group lowered their price objective on shares of 3M from $ 173.00 to $ 161.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 27th. Citigroup lowered their price objective on shares of 3M from $ 157.00 to $ 151.00 in a research note on Wednesday, April 27th. StockNews.com began coverage on shares of 3M in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Argus cut shares of 3M from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $ 164.00.
3M stock opened at $ 134.33 on Monday. The stock has a market cap of $ 76.44 billion, a P / E ratio of 13.98, a PEG ratio of 1.30 and a beta of 0.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.58 and a quick ratio of 1.00. 3M has a 1 year low of $ 128.19 and a 1 year high of $ 203.21. The firm’s 50 day moving average price is $ 144.53 and its 200-day moving average price is $ 155.02.
3M (NYSE: MMM – Get Rating) last posted its earnings results on Tuesday, April 26th. The conglomerate reported $ 2.65 earnings per share for the quarter, beating 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 firm had revenue of $ 8.80 billion during the quarter, compared to analyst estimates of $ 8.75 billion. During the same period last year, the firm posted $ 2.77 earnings per share. 3M’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities analysts expect that 3M will post 10.84 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, June 12th. Investors of record on Friday, May 20th were issued a $ 1.49 dividend. This represents a $ 5.96 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend was Thursday, May 19th. 3M’s dividend payout ratio (DPR) is presently 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.
Featured Articles:
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.
.