HL Financial Services LLC reduced its holdings in shares of 3M Co (NYSE:MMM) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,097 shares of the conglomerate’s stock after selling 1,159 shares during the quarter. HL Financial Services LLC’s holdings in 3M were worth $35,840,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Penserra Capital Management LLC acquired a new stake in shares of 3M during the 4th quarter worth about $35,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of 3M during the 4th quarter worth about $38,000. Essex Investment Management Co. LLC acquired a new stake in shares of 3M during the 4th quarter worth about $39,000. Westside Investment Management Inc. boosted its position in shares of 3M by 96.2% in the fourth quarter. Westside Investment Management Inc. now owns 255 shares of the conglomerate’s stock worth $49,000 after acquiring an additional 125 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new stake in shares of 3M in the fourth quarter worth approximately $72,000. Hedge funds and other institutional investors own 67.03% of the company’s stock.
Several research firms recently issued reports on MMM. Zacks Investment Research reissued a “hold” rating on shares of 3M in a research report on Monday, December 31st. Barclays decreased their target price on shares of 3M from $195.00 to $190.00 and set an “underweight” rating on the stock in a research report on Monday, November 19th. Royal Bank of Canada reissued a “buy” rating and issued a $213.00 target price on shares of 3M in a research report on Wednesday, December 19th. Credit Suisse Group reissued an “outperform” rating and issued a $220.00 target price (down from $230.00) on shares of 3M in a research report on Thursday, January 3rd. Finally, reissued a “sell” rating on shares of 3M in a research report on Tuesday, February 12th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $214.57.
In other 3M news, VP Ippocratis Vrohidis sold 8,153 shares of 3M stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $199.51, for a total transaction of $1,626,605.03. Following the transaction, the vice president now directly owns 786 shares of the company’s stock, valued at $156,814.86. 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. Over the last ninety days, insiders have sold 71,551 shares of company stock worth $14,335,468. 0.72% of the stock is currently owned by corporate insiders.
Shares of MMM stock opened at $208.08 on Friday. The company has a market cap of $119.94 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.29 and a current ratio of 1.89. 3M Co has a fifty-two week low of $176.87 and a fifty-two week high of $238.17.
3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, January 29th. The conglomerate reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.03. The firm had revenue of $7.95 billion for the quarter, compared to analysts’ expectations of $7.87 billion. 3M had a net margin of 16.33% and a return on equity of 57.70%. 3M’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.10 earnings per share. As a group, equities research analysts anticipate that 3M Co will post 10.67 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 15th were given a dividend of $1.44 per share. This represents a $5.76 dividend on an annualized basis and a yield of 2.77%. This is a boost from 3M’s previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Thursday, February 14th. 3M’s payout ratio is 55.07%.
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3M Company Profile
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.
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