Stephens Inc. AR Has $12.17 Million Stake in 3M Co (MMM)
Stephens Inc. AR lifted its holdings in shares of 3M Co (NYSE:MMM) by 5.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 51,692 shares of the conglomerate’s stock after purchasing an additional 2,509 shares during the period. Stephens Inc. AR’s holdings in 3M were worth $12,167,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Advisor Partners LLC grew its holdings in shares of 3M by 4.6% in the 3rd quarter. Advisor Partners LLC now owns 17,127 shares of the conglomerate’s stock worth $3,595,000 after acquiring an additional 747 shares during the period. Griffin Asset Management Inc. grew its holdings in shares of 3M by 51.7% in the 3rd quarter. Griffin Asset Management Inc. now owns 27,576 shares of the conglomerate’s stock worth $5,788,000 after acquiring an additional 9,394 shares during the period. Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of 3M in the 4th quarter worth approximately $254,000. Aperio Group LLC grew its holdings in shares of 3M by 6.8% in the 3rd quarter. Aperio Group LLC now owns 559,122 shares of the conglomerate’s stock worth $117,360,000 after acquiring an additional 35,815 shares during the period. Finally, Mizuho Securities USA LLC grew its holdings in shares of 3M by 20.9% in the 4th quarter. Mizuho Securities USA LLC now owns 18,506 shares of the conglomerate’s stock worth $4,356,000 after acquiring an additional 3,199 shares during the period. 66.17% of the stock is owned by institutional investors and hedge funds.
3M Co (MMM) opened at $236.67 on Monday. 3M Co has a 52 week low of $182.04 and a 52 week high of $259.77. The firm has a market capitalization of $140,936.98, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 2.20 and a beta of 1.08. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Friday, February 16th will be paid a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. 3M’s dividend payout ratio is currently 68.69%.
A number of brokerages have commented on MMM. Goldman Sachs Group upgraded 3M from a “sell” rating to a “neutral” rating and increased their target price for the company from $194.00 to $229.00 in a report on Wednesday, October 25th. Stifel Nicolaus increased their target price on 3M from $220.00 to $244.00 and gave the company a “hold” rating in a report 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. 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. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $260.00 target price (up previously from $238.00) on shares of 3M in a report on Wednesday, October 25th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $254.25.
In other 3M news, Chairman Inge G. Thulin sold 35,236 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the transaction, the chairman now owns 253,873 shares of the company’s stock, valued at approximately $63,757,665.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hak Cheol Shin sold 8,385 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $247.20, for a total value of $2,072,772.00. Following the transaction, the insider now directly owns 120,105 shares in the company, valued at approximately $29,689,956. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,673 shares of company stock worth $12,420,577. Corporate insiders own 0.58% of the company’s stock.
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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