Koshinski Asset Management Inc. grew its stake in 3M Co (NYSE:MMM) by 134.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,515 shares of the conglomerate’s stock after acquiring an additional 7,188 shares during the period. 3M accounts for 0.7% of Koshinski Asset Management Inc.’s holdings, making the stock its 17th biggest holding. Koshinski Asset Management Inc.’s holdings in 3M were worth $2,946,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. First National Trust Co grew its stake in 3M by 0.7% in the 4th quarter. First National Trust Co now owns 48,428 shares of the conglomerate’s stock worth $11,398,000 after acquiring an additional 327 shares in the last quarter. Creative Planning lifted its position in shares of 3M by 13.5% in the 4th quarter. Creative Planning now owns 95,553 shares of the conglomerate’s stock worth $22,490,000 after purchasing an additional 11,398 shares during the period. Sicart Associates LLC lifted its position in shares of 3M by 142.5% in the 4th quarter. Sicart Associates LLC now owns 4,255 shares of the conglomerate’s stock worth $1,001,000 after purchasing an additional 2,500 shares during the period. National Pension Service lifted its position in shares of 3M by 4.3% in the 4th quarter. National Pension Service now owns 488,273 shares of the conglomerate’s stock worth $114,925,000 after purchasing an additional 20,270 shares during the period. Finally, RNC Capital Management LLC lifted its position in shares of 3M by 8.5% in the 4th quarter. RNC Capital Management LLC now owns 4,427 shares of the conglomerate’s stock worth $1,042,000 after purchasing an additional 347 shares during the period. Institutional investors and hedge funds own 66.38% of the company’s stock.
In related news, CFO Nicholas C. Gangestad sold 1,681 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $249.76, for a total transaction of $419,846.56. Following the sale, the chief financial officer now owns 23,562 shares in the company, valued at $5,884,845.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael F. Roman sold 4,146 shares of 3M stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the completion of the sale, the executive vice president now owns 16,208 shares in the company, valued at approximately $3,997,703.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,673 shares of company stock worth $12,420,577. 0.58% of the stock is owned by company insiders.
Several equities research analysts have recently weighed in on MMM shares. Argus reaffirmed a “buy” rating on shares of 3M in a research report on Friday, December 22nd. Bank of America increased their target price on shares of 3M from $227.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday, October 25th. Citigroup increased their target price on shares of 3M from $268.00 to $278.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a research report on Monday, January 15th. Finally, Deutsche Bank increased their target price on shares of 3M from $180.00 to $240.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus price target of $249.93.
3M Co (MMM) traded up $2.32 during trading hours on Friday, hitting $225.21. 4,518,613 shares of the stock were exchanged, compared to its average volume of 2,700,000. The firm has a market capitalization of $134,140.00, a price-to-earnings ratio of 28.40, a P/E/G ratio of 2.09 and a beta of 1.08. 3M Co has a 1 year low of $178.19 and a 1 year high of $259.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33.
3M (NYSE:MMM) last released its quarterly earnings data on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.07. The firm had revenue of $7.99 billion for the quarter, compared to analyst estimates of $7.85 billion. 3M had a net margin of 15.35% and a return on equity of 48.34%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.88 earnings per share. equities research analysts forecast that 3M Co will post 10.6 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be given a dividend of $1.36 per share. This represents a $5.44 annualized dividend and a yield of 2.42%. The ex-dividend date is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio (DPR) is currently 59.27%.
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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