Richwood Investment Advisors LLC bought a new stake in 3M (NYSE: MMM – Get Rating) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 733 shares of the conglomerate’s stock, valued at approximately $ 130,000.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Kovack Advisors Inc. increased 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 buying an additional 56 shares during the period. HNP Capital LLC boosted its position 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. Murphy Middleton Hinkle & Parker Inc. lifted its stake in 3M by 0.7% in the 4th quarter. Murphy Middleton Hinkle & Parker Inc. now owns 8,960 shares of the conglomerate’s stock worth $ 1,592,000 after acquiring an additional 60 shares in the last quarter. CRA Financial Services LLC lifted its stake in 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 acquiring an additional 60 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in 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 acquiring an additional 62 shares in the last quarter. 67.22% of the stock is currently owned by institutional investors.
MMM opened at $ 134.33 on Thursday. The company has a fifty day moving average price of $ 147.06 and a 200-day moving average price of $ 157.38. The firm has a market capitalization of $ 76.44 billion, a P / E ratio of 13.98, a price-to-earnings-growth ratio of 1.34 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 one year low of $ 133.06 and a one year high of $ 203.21.
3M (NYSE: MMM – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The conglomerate reported $ 2.65 earnings per share for the quarter, topping the estimate consensus of $ 2.33 by $ 0.32. The business had revenue of $ 8.80 billion during 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%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the firm posted $ 2.77 earnings per share. On average, analysts expect that 3M will post 10.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Sunday, June 12th. Stockholders of record on Friday, May 20th were issued a dividend of $ 1.49 per share. This represents a $ 5.96 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Thursday, May 19th. 3M’s payout ratio is 62.02%.
MMM has been the topic of several recent research reports. UBS Group decreased their price objective on 3M from $ 168.00 to $ 118.00 and set a “sell” rating on the stock in a report on Friday, March 11th. Royal Bank of Canada lifted their price objective on 3M from $ 136.00 to $ 138.00 and gave the company an “underperform” rating in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft dropped their target price on 3M from $ 167.00 to $ 164.00 and set a “hold” rating for the company in a research report on Wednesday, April 27th. Citigroup dropped their target price on 3M from $ 157.00 to $ 151.00 in a research report on Wednesday, April 27th. Finally, Credit Suisse Group decreased their price objective on 3M from $ 173.00 to $ 161.00 and set a “neutral” rating for the company in a research note on Wednesday, April 27th. Five 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 165.14.
In other 3M news, CEO Michael F. Roman sold 10,610 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $ 146.21, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mojdeh Poul sold 1,634 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 7,637 shares in the company, valued at $ 1,158,380.16. 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.
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