3M Co. (MMM) Stake Held by R.H. Dinel Investment Counsel Inc.
R.H. Dinel Investment Counsel Inc. continued to hold its position in 3M Co. (NYSE:MMM) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,550 shares of the company’s stock at the end of the third quarter. 3M accounts for about 3.1% of R.H. Dinel Investment Counsel Inc.’s investment portfolio, making the stock its 11th largest position. R.H. Dinel Investment Counsel Inc.’s holdings in 3M were worth $2,740,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Independence Advisors LLC raised its position in 3M by 10.2% in the third quarter. Independence Advisors LLC now owns 1,275 shares of the company’s stock valued at $225,000 after buying an additional 118 shares during the last quarter. Hefty Wealth Partners raised its stake in 3M by 18.5% in the third quarter. Hefty Wealth Partners now owns 6,017 shares of the company’s stock worth $1,060,000 after buying an additional 940 shares in the last quarter. Private Asset Management Inc. raised its stake in 3M by 4.9% in the third quarter. Private Asset Management Inc. now owns 2,138 shares of the company’s stock worth $377,000 after buying an additional 100 shares in the last quarter. Acropolis Investment Management LLC raised its stake in 3M by 0.8% in the third quarter. Acropolis Investment Management LLC now owns 13,202 shares of the company’s stock worth $2,327,000 after buying an additional 111 shares in the last quarter. Finally, Telemus Capital LLC raised its stake in 3M by 2.1% in the third quarter. Telemus Capital LLC now owns 22,795 shares of the company’s stock worth $4,017,000 after buying an additional 469 shares in the last quarter. 63.36% of the stock is currently owned by hedge funds and other institutional investors.
Shares of 3M Co. (NYSE:MMM) traded down 0.57% on Monday, hitting $172.50. The company’s stock had a trading volume of 1,677,696 shares. 3M Co. has a 1-year low of $134.64 and a 1-year high of $182.27. The company has a 50 day moving average of $170.04 and a 200 day moving average of $173.87. The firm has a market cap of $103.75 billion, a PE ratio of 21.75 and a beta of 1.04.
3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $2.15 EPS for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.01. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.72 billion. 3M had a return on equity of 42.27% and a net margin of 16.40%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Equities analysts forecast that 3M Co. will post $8.17 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be paid a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Wednesday, November 16th. 3M’s dividend payout ratio is presently 55.92%.
A number of equities research analysts have issued reports on the company. Jefferies Group reaffirmed a “buy” rating and issued a $210.00 price target (up previously from $200.00) on shares of 3M in a research report on Monday. Goldman Sachs Group Inc. lowered 3M from a “neutral” rating to a “sell” rating and reduced their price target for the company from $172.96 to $159.00 in a research report on Monday, November 21st. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. RBC Capital Markets reaffirmed an “underperform” rating and issued a $155.00 price target (down previously from $159.00) on shares of 3M in a research report on Wednesday, October 26th. Finally, Royal Bank Of Canada reduced their price target on 3M from $159.00 to $155.00 and set an “underperform” rating on the stock in a research report on Wednesday, October 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $170.80.
In related news, insider Julie L. Bushman sold 10,424 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $173.02, for a total value of $1,803,560.48. Following the transaction, the insider now owns 32,717 shares in the company, valued at $5,660,695.34. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Julie L. Bushman sold 10,771 shares of the business’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $166.71, for a total value of $1,795,633.41. Following the completion of the transaction, the insider now owns 34,093 shares in the company, valued at approximately $5,683,644.03. 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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