Alpha Omega Wealth Management LLC continued to hold its position in shares of 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 792 shares of the conglomerate’s stock at the end of the 2nd quarter. Alpha Omega Wealth Management LLC’s holdings in 3M were worth $165,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jackson Grant Investment Advisers Inc. raised its position in shares of 3M by 0.6% during the 1st quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after purchasing an additional 4 shares during the last quarter. Founders Capital Management LLC raised its position in shares of 3M by 0.4% during the 1st quarter. Founders Capital Management LLC now owns 1,939 shares of the conglomerate’s stock worth $371,000 after purchasing an additional 8 shares during the last quarter. Baystate Wealth Management LLC raised its position in shares of 3M by 0.6% during the 1st quarter. Baystate Wealth Management LLC now owns 1,950 shares of the conglomerate’s stock worth $370,000 after purchasing an additional 11 shares during the last quarter. Capital Management Corp VA raised its position in shares of 3M by 0.3% during the 1st quarter. Capital Management Corp VA now owns 3,934 shares of the conglomerate’s stock worth $753,000 after purchasing an additional 11 shares during the last quarter. Finally, Smith Chas P & Associates PA Cpas raised its position in shares of 3M by 0.7% during the 1st quarter. Smith Chas P & Associates PA Cpas now owns 1,952 shares of the conglomerate’s stock worth $374,000 after purchasing an additional 13 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Shares of 3M Company (MMM) opened at 213.56 on Wednesday. The firm has a market cap of $127.45 billion, a P/E ratio of 24.36 and a beta of 1.08. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.65. The firm has a 50-day moving average of $206.16 and a 200-day moving average of $201.42.

3M (NYSE:MMM) last announced its quarterly 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 net margin of 17.65% and a return on equity of 47.83%. The business had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period last year, the company earned $2.08 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts forecast that 3M Company will post $8.94 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were issued a $1.175 dividend. This represents a $4.70 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Wednesday, August 23rd. 3M’s dividend payout ratio (DPR) is presently 53.59%.

In other news, VP Eric D. Hammes sold 1,428 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the transaction, the vice president now owns 3,066 shares of the company’s stock, valued at $633,619.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Frank R. Jr. Little sold 2,719 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were 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 directly owns 9,010 shares of the company’s stock, valued at approximately $1,856,330.30. The disclosure for this sale can be found here. Insiders sold 9,112 shares of company stock worth $1,878,890 in the last ninety days. Insiders own 0.58% of the company’s stock.

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Several research analysts recently weighed in on the stock. Royal Bank Of Canada restated a “hold” rating and set a $209.00 price target on shares of 3M in a research report on Friday, September 15th. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research report on Monday, June 19th. Bank of America Corporation restated a “buy” rating and set a $227.00 price target on shares of 3M in a research report on Thursday, September 14th. Stifel Nicolaus restated a “hold” rating and set a $202.00 price target on shares of 3M in a research report on Wednesday, July 19th. Finally, Morgan Stanley restated an “underweight” rating and set a $191.00 price target (down previously from $193.00) on shares of 3M in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $207.93.

3M 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.

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

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