3M Co. (MMM) Shares Bought by S&CO Inc.
S&CO Inc. increased its stake in shares of 3M Co. (NYSE:MMM) by 1.2% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 68,419 shares of the company’s stock after buying an additional 800 shares during the period. 3M makes up about 1.9% of S&CO Inc.’s investment portfolio, making the stock its 18th largest position. S&CO Inc.’s holdings in 3M were worth $11,982,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of MMM. Wagner Bowman Management Corp boosted its position in shares of 3M by 0.5% in the first quarter. Wagner Bowman Management Corp now owns 15,147 shares of the company’s stock valued at $2,523,000 after buying an additional 70 shares during the last quarter. First Hawaiian Bank boosted its position in shares of 3M by 48.5% in the first quarter. First Hawaiian Bank now owns 3,236 shares of the company’s stock valued at $540,000 after buying an additional 1,057 shares during the last quarter. Bridge Creek Capital Management LLC bought a new position in shares of 3M during the first quarter valued at about $379,000. McQueen Ball & Associates Inc. boosted its position in shares of 3M by 0.9% in the first quarter. McQueen Ball & Associates Inc. now owns 14,061 shares of the company’s stock valued at $2,343,000 after buying an additional 131 shares during the last quarter. Finally, Sigma Planning Corp boosted its position in shares of 3M by 1.3% in the first quarter. Sigma Planning Corp now owns 8,661 shares of the company’s stock valued at $1,443,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.
Shares of 3M Co. (NYSE:MMM) traded up 0.49% during trading on Friday, hitting $176.23. 2,419,430 shares of the stock were exchanged. 3M Co. has a 12-month low of $134.64 and a 12-month high of $182.27. The stock has a 50-day moving average of $178.48 and a 200 day moving average of $172.84. The stock has a market cap of $106.51 billion, a P/E ratio of 22.49 and a beta of 1.07.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. The business earned $7.70 billion during the quarter, compared to analyst estimates of $7.73 billion. 3M had a net margin of 16.29% and a return on equity of 41.84%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 earnings per share. Equities analysts predict that 3M Co. will post $8.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.44 annualized dividend and a yield of 2.52%. 3M’s payout ratio is 56.63%.
Several research analysts have recently issued reports on MMM shares. Morgan Stanley restated a “sell” rating on shares of 3M in a report on Friday, June 10th. Sanford C. Bernstein reiterated a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of 3M in a research note on Wednesday, July 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of 3M in a research note on Sunday, July 10th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $164.00 price target on shares of 3M in a research note on Thursday, August 25th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $167.11.
In other 3M news, insider Paul A. Keel sold 3,180 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $178.39, for a total transaction of $567,280.20. Following the completion of the sale, the insider now owns 9,961 shares in the company, valued at $1,776,942.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider James L. Bauman sold 9,066 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $178.42, for a total transaction of $1,617,555.72. Following the sale, the insider now owns 10,834 shares of the company’s stock, valued at approximately $1,933,002.28. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
3M Company Profile
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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