M Holdings Securities Inc. Has $1.14 Million Holdings in 3M Company (MMM)
M Holdings Securities Inc. raised its position in 3M Company (NYSE:MMM) by 35.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,450 shares of the conglomerate’s stock after buying an additional 1,441 shares during the period. M Holdings Securities Inc.’s holdings in 3M were worth $1,135,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the business. Griffin Asset Management Inc. purchased a new stake in 3M in the 2nd quarter valued at about $3,785,000. Gs Investments Inc. purchased a new stake in 3M in the 2nd quarter valued at about $409,000. Sentry Investment Management LLC increased its stake in 3M by 1.0% in the 2nd quarter. Sentry Investment Management LLC now owns 47,652 shares of the conglomerate’s stock valued at $9,921,000 after buying an additional 467 shares during the last quarter. Atlantic Trust LLC increased its stake in 3M by 44.3% in the 2nd quarter. Atlantic Trust LLC now owns 17,483 shares of the conglomerate’s stock valued at $3,825,000 after buying an additional 5,366 shares during the last quarter. Finally, Advisory Services Network LLC increased its stake in 3M by 12.5% in the 2nd quarter. Advisory Services Network LLC now owns 8,173 shares of the conglomerate’s stock valued at $1,702,000 after buying an additional 908 shares during the last quarter. Hedge funds and other institutional investors own 66.18% of the company’s stock.
Several equities research analysts have commented on the stock. Royal Bank Of Canada reiterated a “hold” rating and issued a $205.00 price objective on shares of 3M in a research note on Friday, October 13th. Credit Suisse Group reiterated an “outperform” rating and issued a $237.00 price objective (up previously from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Citigroup Inc. reiterated a “buy” rating and issued a $250.00 price objective (up previously from $228.00) on shares of 3M in a research note on Monday, October 9th. J P Morgan Chase & Co lowered shares of 3M from a “neutral” rating to an “underweight” rating and increased their price objective for the company from $185.00 to $201.00 in a research note on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. 3M currently has an average rating of “Hold” and an average price target of $209.77.
3M Company (NYSE MMM) traded up 0.14% on Friday, reaching $219.55. 312,640 shares of the company traded hands. The stock’s 50-day moving average is $212.01 and its 200-day moving average is $204.96. The stock has a market capitalization of $131.02 billion, a price-to-earnings ratio of 25.04 and a beta of 1.09. 3M Company has a 1-year low of $163.85 and a 1-year high of $220.76.
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). The business had revenue of $7.81 billion for the quarter, compared to the consensus estimate of $7.86 billion. 3M had a net margin of 17.65% and a return on equity of 47.83%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.08 earnings per share. Equities research analysts expect that 3M Company will post $8.96 EPS for the current year.
In related 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 transaction of $295,110.48. Following the completion of the sale, the vice president now directly owns 3,066 shares in the company, valued at $633,619.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul A. Keel sold 4,965 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The disclosure for this sale can be found here. Insiders have sold 9,112 shares of company stock valued at $1,878,890 over the last 90 days. 0.58% of the stock is currently 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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