Valeo Financial Advisors LLC grew its position in shares of 3M Co (NYSE:MMM) by 24.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,988 shares of the conglomerate’s stock after buying an additional 977 shares during the quarter. Valeo Financial Advisors LLC’s holdings in 3M were worth $1,174,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of 3M by 1.4% in the 4th quarter. BlackRock Inc. now owns 38,828,584 shares of the conglomerate’s stock valued at $9,139,087,000 after purchasing an additional 521,880 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of 3M by 0.5% in the 4th quarter. Bank of New York Mellon Corp now owns 6,379,814 shares of the conglomerate’s stock valued at $1,501,619,000 after purchasing an additional 28,908 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of 3M by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock valued at $746,391,000 after purchasing an additional 142,799 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of 3M by 8.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,024,371 shares of the conglomerate’s stock valued at $476,476,000 after purchasing an additional 159,668 shares in the last quarter. Finally, New York State Common Retirement Fund increased its holdings in shares of 3M by 0.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock valued at $356,877,000 after purchasing an additional 8,500 shares in the last quarter. Institutional investors own 66.89% of the company’s stock.
In other 3M news, Chairman Inge G. Thulin sold 35,236 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the sale, the chairman now directly owns 253,873 shares of the company’s stock, valued at approximately $63,757,665.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Ippocratis Vrohidis sold 225 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $249.68, for a total transaction of $56,178.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,806 shares of company stock worth $13,162,628. 0.58% of the stock is owned by corporate insiders.
Shares of 3M Co (NYSE:MMM) opened at $242.30 on Monday. The company has a market cap of $143,720.00, a PE ratio of 26.32, a P/E/G ratio of 2.24 and a beta of 1.10. 3M Co has a 12 month low of $188.62 and a 12 month high of $259.77. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04.
3M (NYSE:MMM) last issued its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. The firm had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 EPS. equities analysts anticipate that 3M Co will post 10.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a yield of 2.25%. This is a boost from 3M’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, February 15th. 3M’s dividend payout ratio is presently 59.32%.
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3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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