Griffin Asset Management Inc. lifted its position in 3M Company (NYSE:MMM) by 51.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,576 shares of the conglomerate’s stock after buying an additional 9,394 shares during the period. Griffin Asset Management Inc.’s holdings in 3M were worth $5,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MMM. MPS Loria Financial Planners LLC purchased a new position in shares of 3M in the 2nd quarter worth $124,000. Hoertkorn Richard Charles purchased a new position in shares of 3M in the 3rd quarter worth $126,000. Proficio Capital Partners LLC boosted its stake in shares of 3M by 156.0% in the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock worth $131,000 after buying an additional 404 shares during the last quarter. Harfst & Associates Inc. boosted its stake in shares of 3M by 17.0% in the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock worth $143,000 after buying an additional 100 shares during the last quarter. Finally, Mascoma Wealth Management LLC boosted its stake in shares of 3M by 87.5% in the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 66.33% of the company’s stock.

In other 3M news, VP Khandpur K. Ashish sold 4,004 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total transaction of $926,485.56. Following the completion of the transaction, the vice president now owns 5,236 shares in the company, valued at $1,211,558.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jon T. Lindekugel sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total value of $92,024.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,804 shares of company stock valued at $5,303,706. 0.58% of the stock is currently owned by company insiders.

A number of equities analysts have recently issued reports on the company. ValuEngine downgraded 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Citigroup lifted their target price on 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Goldman Sachs Group reaffirmed a “sell” rating on shares of 3M in a report on Thursday, October 26th. Argus lifted their target price on 3M from $220.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Royal Bank of Canada lifted their target price on 3M from $205.00 to $209.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. 3M presently has a consensus rating of “Hold” and an average target price of $231.16.

3M Company (NYSE:MMM) traded down $0.94 on Tuesday, reaching $238.36. The company had a trading volume of 1,238,345 shares, compared to its average volume of 1,838,718. The stock has a market capitalization of $141,832.17, a price-to-earnings ratio of 26.61, a P/E/G ratio of 2.58 and a beta of 1.10. 3M Company has a 12 month low of $173.55 and a 12 month high of $244.23. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $2.15 earnings per share. analysts predict that 3M Company will post 9.09 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be given a $0.0118 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio is currently 52.51%.

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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.

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

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