Sabal Trust CO Decreases Stake in 3M Co. (MMM)
Sabal Trust CO decreased its stake in 3M Co. (NYSE:MMM) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,270 shares of the company’s stock after selling 330 shares during the period. 3M makes up 2.6% of Sabal Trust CO’s investment portfolio, making the stock its 17th largest position. Sabal Trust CO’s holdings in 3M were worth $23,310,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Old Mutual Global Investors UK Ltd. raised its stake in shares of 3M by 29.9% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 33,244 shares of the company’s stock valued at $5,858,000 after buying an additional 7,647 shares during the last quarter. Chicago Equity Partners LLC raised its stake in shares of 3M by 50.2% in the third quarter. Chicago Equity Partners LLC now owns 2,290 shares of the company’s stock valued at $404,000 after buying an additional 765 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of 3M by 2.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 293,007 shares of the company’s stock valued at $51,637,000 after buying an additional 8,350 shares during the last quarter. Regal Investment Advisors LLC raised its stake in shares of 3M by 20.2% in the third quarter. Regal Investment Advisors LLC now owns 8,834 shares of the company’s stock valued at $1,557,000 after buying an additional 1,484 shares during the last quarter. Finally, Verity & Verity LLC raised its stake in shares of 3M by 2.8% in the third quarter. Verity & Verity LLC now owns 25,833 shares of the company’s stock valued at $4,553,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 63.36% of the company’s stock.
3M Co. (NYSE:MMM) traded down 0.2143% during trading on Wednesday, reaching $172.3997. 435,627 shares of the company were exchanged. The firm has a market cap of $103.69 billion, a price-to-earnings ratio of 21.7374 and a beta of 1.04. The firm has a 50-day moving average of $170.04 and a 200-day moving average of $173.87. 3M Co. has a 52-week low of $134.64 and a 52-week high of $182.27.
3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 25th. The company reported $2.15 EPS for the quarter, beating the Zacks’ consensus estimate of $2.14 by $0.01. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.72 billion. 3M had a net margin of 16.40% and a return on equity of 42.27%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.05 earnings per share. On average, equities analysts forecast that 3M Co. will post $8.17 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, November 16th. 3M’s dividend payout ratio is presently 55.92%.
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Several brokerages have commented on MMM. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Group restated a “buy” rating and issued a $210.00 price target (up previously from $200.00) on shares of 3M in a research note on Monday. 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 note on Wednesday, October 26th. Deutsche Bank AG restated a “hold” rating and issued a $164.00 price target on shares of 3M in a research note on Thursday, August 25th. Finally, Morgan Stanley reiterated a “sell” rating and set a $168.00 price objective on shares of 3M in a research note on Tuesday, August 23rd. Four research 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. 3M presently has an average rating of “Hold” and an average price target of $170.80.
In other 3M news, insider Julie L. Bushman sold 10,424 shares of the business’s stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $173.02, for a total value of $1,803,560.48. Following the completion of the transaction, the insider now directly owns 32,717 shares of the company’s stock, valued at $5,660,695.34. The sale 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 transaction of $1,795,633.41. Following the completion of the transaction, the insider now directly owns 34,093 shares of the company’s stock, valued at $5,683,644.03. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.
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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