Northern Oak Wealth Management Inc. continued to hold its stake in shares of 3M Company (NYSE:MMM) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,890 shares of the conglomerate’s stock at the end of the first quarter. Northern Oak Wealth Management Inc.’s holdings in 3M were worth $1,318,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MMM. American Century Companies Inc. raised its position in 3M by 37.1% during the first quarter. American Century Companies Inc. now owns 3,148,266 shares of the conglomerate’s stock valued at $602,358,000 after purchasing an additional 852,262 shares in the last quarter. Karp Capital Management Corp raised its position in 3M by 16,353.8% during the first quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock valued at $94,947,000 after purchasing an additional 493,230 shares in the last quarter. Swiss National Bank raised its position in 3M by 26.6% during the first quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock valued at $407,782,000 after purchasing an additional 447,900 shares in the last quarter. Bank of New York Mellon Corp raised its position in 3M by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock valued at $1,309,651,000 after purchasing an additional 300,345 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its position in 3M by 92.6% during the first quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock valued at $87,828,000 after purchasing an additional 220,741 shares in the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.

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Shares of 3M Company (MMM) traded down 0.19% on Wednesday, hitting $209.24. 406,177 shares of the stock traded hands. The stock has a 50-day moving average price of $204.39 and a 200 day moving average price of $200.39. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.57. The firm has a market cap of $124.87 billion, a P/E ratio of 23.87 and a beta of 1.08.

3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.01). 3M had a return on equity of 47.83% and a net margin of 17.65%. The company had revenue of $7.81 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same period in the prior year, the firm posted $2.08 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. Equities research analysts predict that 3M Company will post $8.94 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were issued a dividend of $1.175 per share. This represents a $4.70 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Wednesday, August 23rd. 3M’s dividend payout ratio is currently 53.59%.

Several brokerages have commented on MMM. Jefferies Group LLC restated a “buy” rating and set a $234.00 price objective on shares of 3M in a research report on Wednesday, August 16th. BidaskClub downgraded shares of 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $223.00 price objective for the company in a research report on Friday, May 26th. Bank of America Corporation restated a “buy” rating and set a $225.00 price objective (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Finally, Morgan Stanley restated an “underweight” rating and set a $190.00 price objective (down from $191.00) on shares of 3M in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $206.68.

In other news, insider Paul A. Keel sold 4,965 shares of 3M stock in a transaction on Friday, August 11th. The shares were sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the completion of the sale, the insider now directly owns 5,503 shares of the company’s stock, valued at approximately $1,134,498.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frank R. Jr. Little sold 2,719 shares of 3M stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $206.03, for a total transaction of $560,195.57. Following the sale, the insider now directly owns 9,010 shares of the company’s stock, valued at $1,856,330.30. The disclosure for this sale can be found here. Insiders have sold a total of 9,112 shares of company stock valued at $1,878,890 over the last ninety days. 0.58% of the stock is currently owned by insiders.

3M Company Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

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

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