Trust Department MB Financial Bank N A Continues to Hold Stake in 3M Company (MMM)
Trust Department MB Financial Bank N A maintained its stake in 3M Company (NYSE:MMM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,604 shares of the conglomerate’s stock at the end of the 2nd quarter. Trust Department MB Financial Bank N A’s holdings in 3M were worth $542,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC grew its position in 3M by 156.0% during the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock worth $131,000 after buying an additional 404 shares in the last quarter. Jackson Grant Investment Advisers Inc. grew its position in 3M by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after buying an additional 4 shares in the last quarter. One Capital Management LLC acquired a new stake in 3M during the first quarter worth approximately $202,000. FDO Partners LLC acquired a new stake in 3M during the first quarter worth approximately $203,000. Finally, SRS Capital Advisors Inc. grew its position in 3M by 42.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,069 shares of the conglomerate’s stock worth $204,000 after buying an additional 318 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on MMM. Morgan Stanley raised their target price on 3M from $178.00 to $193.00 and gave the company an “underweight” rating in a report on Friday, June 9th. BidaskClub downgraded 3M from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $202.00 target price on shares of 3M in a report on Wednesday, July 19th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $237.00 target price on the stock in a report on Monday, June 19th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $209.00 target price (down previously from $210.00) on shares of 3M in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus price target of $207.93.
3M Company (MMM) traded down 0.23% during midday trading on Tuesday, hitting $213.26. The company had a trading volume of 639,305 shares. The firm has a market capitalization of $127.27 billion, a P/E ratio of 24.33 and a beta of 1.08. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.65. The firm’s 50 day moving average is $205.81 and its 200-day moving average is $201.24.
3M (NYSE:MMM) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter last year, the firm posted $2.08 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, equities research analysts expect that 3M Company will post $8.94 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were given a $1.175 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.70 annualized dividend and a yield of 2.20%. 3M’s dividend payout ratio (DPR) is presently 53.59%.
In related news, insider Paul A. Keel sold 4,965 shares of the company’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $206.16, for a total value of $1,023,584.40. Following the completion of the transaction, the insider now directly owns 5,503 shares in the company, valued at $1,134,498.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Frank R. Jr. Little sold 2,719 shares of the company’s 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 completion of the transaction, the insider now 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 sold 9,112 shares of company stock valued at $1,878,890 over the last quarter. 0.58% of the stock is owned by company insiders.
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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