Bristol John W & Co. Inc. NY lowered its stake in 3M Co. (NYSE:MMM) by 3.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 450,759 shares of the company’s stock after selling 16,246 shares during the period. 3M accounts for about 2.2% of Bristol John W & Co. Inc. NY’s investment portfolio, making the stock its 10th largest position. Bristol John W & Co. Inc. NY owned approximately 0.07% of 3M worth $79,437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Delphi Private Advisors LLC boosted its position in 3M by 0.4% in the second quarter. Delphi Private Advisors LLC now owns 909 shares of the company’s stock valued at $159,000 after buying an additional 4 shares during the last quarter. Landmark Financial Advisors LLC boosted its position in 3M by 0.3% in the second quarter. Landmark Financial Advisors LLC now owns 1,868 shares of the company’s stock valued at $327,000 after buying an additional 5 shares during the last quarter. Valley National Advisers Inc. boosted its position in 3M by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,391 shares of the company’s stock valued at $419,000 after buying an additional 7 shares during the last quarter. Founders Capital Management LLC boosted its position in 3M by 0.4% in the second quarter. Founders Capital Management LLC now owns 1,916 shares of the company’s stock valued at $336,000 after buying an additional 8 shares during the last quarter. Finally, Gilman Hill Asset Management LLC boosted its position in 3M by 0.3% in the second quarter. Gilman Hill Asset Management LLC now owns 2,440 shares of the company’s stock valued at $427,000 after buying an additional 8 shares during the last quarter. Hedge funds and other institutional investors own 63.36% of the company’s stock.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

3M Co. (NYSE:MMM) opened at 172.77 on Wednesday. 3M Co. has a 12 month low of $134.64 and a 12 month high of $182.27. The company has a market capitalization of $103.92 billion, a P/E ratio of 21.78 and a beta of 1.04. The stock’s 50 day moving average price is $170.04 and its 200-day moving average price is $173.87.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 25th. The company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.01. 3M had a return on equity of 42.27% and a net margin of 16.40%. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.72 billion. During the same period in the previous year, the company posted $2.05 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts predict that 3M Co. will post $8.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Friday, November 18th will be paid a dividend of $1.11 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.57%. 3M’s payout ratio is 55.92%.

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A number of brokerages recently commented on MMM. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Jefferies Group restated a “buy” rating on shares of 3M in a research report on Thursday, August 4th. Barclays PLC upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $171.00 to $194.00 in a research report on Monday, October 24th. RBC Capital Markets restated 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, Deutsche Bank AG restated a “hold” rating and issued a $164.00 price target on shares of 3M in a research report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $170.80.

In other 3M news, insider Julie L. Bushman sold 10,424 shares of the company’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 directly owns 32,717 shares in the company, valued at approximately $5,660,695.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Julie L. Bushman sold 10,771 shares of the company’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 $5,683,644.03. The disclosure for this sale can be found here. Corporate 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.

5 Day Chart for NYSE:MMM

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