Dixon Hubard Feinour & Brown Inc. VA Cuts Holdings in 3M Company (MMM)
Dixon Hubard Feinour & Brown Inc. VA reduced its position in shares of 3M Company (NYSE:MMM) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,293 shares of the conglomerate’s stock after selling 450 shares during the period. Dixon Hubard Feinour & Brown Inc. VA’s holdings in 3M were worth $1,741,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. MPS Loria Financial Planners LLC purchased a new stake in shares of 3M in the second quarter valued at approximately $124,000. Hoertkorn Richard Charles acquired a new position in 3M in the third quarter valued at approximately $126,000. Proficio Capital Partners LLC lifted its holdings in 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 404 shares during the last quarter. Harfst & Associates Inc. lifted its holdings in 3M by 17.0% in the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 100 shares during the last quarter. Finally, Mascoma Wealth Management LLC lifted its holdings in 3M by 87.5% in the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after acquiring an additional 350 shares during the last quarter. Institutional investors own 66.32% of the company’s stock.
MMM has been the topic of a number of research reports. Citigroup Inc. upped their price target on 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Stifel Nicolaus increased their price objective on 3M from $220.00 to $244.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Royal Bank Of Canada increased their target price on 3M from $205.00 to $209.00 and gave the company a “sector perform” rating in a report on Wednesday, October 25th. Finally, Argus increased their target price on 3M from $220.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $231.16.
In related news, CAO Ippocratis Vrohidis sold 1,725 shares of the business’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $230.34, for a total transaction of $397,336.50. Following the completion of the sale, the chief accounting officer now owns 898 shares of the company’s stock, valued at approximately $206,845.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frank R. Jr. Little sold 1,500 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. Insiders sold a total of 22,804 shares of company stock worth $5,303,706 in the last quarter. 0.58% of the stock is currently owned by company insiders.
3M Company (NYSE:MMM) traded down $2.41 during trading hours on Wednesday, hitting $231.68. 778,348 shares of the company traded hands, compared to its average volume of 1,835,089. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. The firm has a market cap of $138,560.00, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.51 and a beta of 1.08. 3M Company has a 1-year low of $171.09 and a 1-year high of $238.90.
3M (NYSE:MMM) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the business posted $2.15 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. equities research analysts forecast that 3M Company will post 9.08 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th will be issued a $0.0118 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.02%. 3M’s dividend payout ratio is currently 52.46%.
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, , 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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