Thomaspartners Inc. grew its position in 3M (NYSE:MMM) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,056,264 shares of the conglomerate’s stock after buying an additional 16,672 shares during the period. Thomaspartners Inc. owned 0.18% of 3M worth $231,871,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Lenox Wealth Advisors Inc. lifted its holdings in shares of 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 489 shares during the last quarter. Horan Capital Management acquired a new stake in 3M during the 4th quarter worth approximately $123,000. Virtue Capital Management LLC acquired a new stake in 3M during the 4th quarter worth approximately $127,000. Sawyer & Company Inc acquired a new stake in 3M during the 4th quarter worth approximately $138,000. Finally, Field & Main Bank acquired a new stake in 3M during the 4th quarter worth approximately $140,000. 66.70% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Frank R. Jr. Little sold 3,133 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $236.85, for a total transaction of $742,051.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.
3M opened at $200.36 on Friday, MarketBeat Ratings reports. 3M has a 1 year low of $199.55 and a 1 year high of $201.01. The company has a market capitalization of $118.86 billion, a P/E ratio of 21.05, a P/E/G ratio of 1.89 and a beta of 1.17. The company has a quick ratio of 1.17, a current ratio of 1.65 and a debt-to-equity ratio of 1.11.
3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, April 24th. The conglomerate reported $2.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.50. The firm had revenue of $8.28 billion for the quarter, compared to analysts’ expectations of $8.21 billion. 3M had a net margin of 12.83% and a return on equity of 50.11%. 3M’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.16 earnings per share. research analysts predict that 3M will post 10.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Friday, May 18th will be given a dividend of $1.36 per share. The ex-dividend date is Thursday, May 17th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.72%. 3M’s payout ratio is currently 59.32%.
A number of research analysts recently commented on MMM shares. JPMorgan Chase reaffirmed an “underweight” rating and issued a $221.00 target price (up from $208.00) on shares of 3M in a research report on Thursday, January 18th. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. UBS assumed coverage on shares of 3M in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $262.00 target price for the company. Hilliard Lyons upgraded shares of 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price for the company in a research note on Wednesday, January 24th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $254.00 target price on shares of 3M in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $241.97.
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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