3M Co (MMM) Shares Bought by Corient Capital Partners LLC

Corient Capital Partners LLC boosted its holdings in shares of 3M Co (NYSE:MMM) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,329 shares of the conglomerate’s stock after buying an additional 1,189 shares during the period. Corient Capital Partners LLC’s holdings in 3M were worth $1,968,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of 3M by 17,350.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock valued at $141,000 after acquiring an additional 26,742,875 shares during the last quarter. Morgan Stanley raised its position in 3M by 11.9% in the 3rd quarter. Morgan Stanley now owns 4,042,904 shares of the conglomerate’s stock worth $851,879,000 after purchasing an additional 430,262 shares during the period. Legal & General Group Plc raised its position in 3M by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 2,681,574 shares of the conglomerate’s stock worth $565,048,000 after purchasing an additional 31,448 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of 3M by 0.4% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,112,753 shares of the conglomerate’s stock worth $445,178,000 after acquiring an additional 7,957 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of 3M by 5.1% during the third quarter. Neuberger Berman Group LLC now owns 1,899,813 shares of the conglomerate’s stock worth $400,289,000 after acquiring an additional 91,831 shares during the period. 67.03% of the stock is owned by hedge funds and other institutional investors.

MMM stock opened at $208.08 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.89 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $119.94 billion, a PE ratio of 19.89, a PEG ratio of 1.90 and a beta of 1.06. 3M Co has a one year low of $176.87 and a one year high of $238.17.

3M (NYSE:MMM) last posted its earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.28 by $0.03. 3M had a net margin of 16.33% and a return on equity of 57.70%. The firm had revenue of $7.95 billion during the quarter, compared to the consensus estimate of $7.87 billion. During the same period last year, the firm posted $2.10 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, research analysts expect that 3M Co will post 10.67 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Friday, February 15th were given a $1.44 dividend. The ex-dividend date of this dividend was Thursday, February 14th. This is a boost from 3M’s previous quarterly dividend of $1.36. This represents a $5.76 annualized dividend and a dividend yield of 2.77%. 3M’s dividend payout ratio (DPR) is currently 55.07%.

MMM has been the topic of several research reports. Royal Bank of Canada reissued a “buy” rating and set a $213.00 price objective on shares of 3M in a report on Wednesday, December 19th. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Credit Suisse Group reiterated an “outperform” rating and set a $220.00 price objective (down from $230.00) on shares of 3M in a research note on Thursday, January 3rd. restated a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Finally, Barclays cut their price objective on shares of 3M from $190.00 to $189.00 and set an “underweight” rating for the company in a report on Thursday, January 3rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $214.57.

In other 3M news, EVP Joaquin Delgado sold 4,897 shares of 3M stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $207.30, for a total transaction of $1,015,148.10. Following the transaction, the executive vice president now directly owns 23,191 shares of the company’s stock, valued at $4,807,494.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Inge G. Thulin sold 13,499 shares of 3M stock in a transaction that occurred on Wednesday, January 30th. The shares were sold at an average price of $200.00, for a total transaction of $2,699,800.00. Following the transaction, the chairman now directly owns 230,458 shares in the company, valued at $46,091,600. The disclosure for this sale can be found here. Insiders sold 71,551 shares of company stock worth $14,335,468 over the last three months. Corporate insiders own 0.72% of the company’s stock.

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About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

Further Reading: What is Depreciation?

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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