Van Hulzen Asset Management LLC increased its holdings in shares of 3M Co (NYSE:MMM) by 18.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,343 shares of the conglomerate’s stock after buying an additional 2,400 shares during the period. Van Hulzen Asset Management LLC’s holdings in 3M were worth $3,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MMM. Altfest L J & Co. Inc. increased its stake in 3M by 15.0% in the second quarter. Altfest L J & Co. Inc. now owns 6,766 shares of the conglomerate’s stock valued at $1,331,000 after purchasing an additional 884 shares in the last quarter. Family Capital Trust Co increased its stake in 3M by 1.8% in the second quarter. Family Capital Trust Co now owns 16,496 shares of the conglomerate’s stock valued at $3,245,000 after purchasing an additional 297 shares in the last quarter. Sarasin & Partners LLP increased its stake in 3M by 26.7% in the second quarter. Sarasin & Partners LLP now owns 909,536 shares of the conglomerate’s stock valued at $178,924,000 after purchasing an additional 191,853 shares in the last quarter. Girard Partners LTD. bought a new stake in 3M in the second quarter valued at approximately $2,239,000. Finally, Marcus Capital LLC increased its stake in 3M by 26.0% in the second quarter. Marcus Capital LLC now owns 5,400 shares of the conglomerate’s stock valued at $1,062,000 after purchasing an additional 1,115 shares in the last quarter. 66.16% of the stock is owned by institutional investors and hedge funds.

In other news, insider Jon T. Lindekugel sold 6,410 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $203.01, for a total value of $1,301,294.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.

Several brokerages have commented on MMM. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Morgan Stanley began coverage on shares of 3M in a research note on Monday, August 20th. They issued an “equal weight” rating and a $212.00 target price for the company. Barclays lowered their target price on shares of 3M from $210.00 to $201.00 and set an “underweight” rating for the company in a research note on Wednesday, July 25th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $234.00 target price on shares of 3M in a research note on Wednesday, July 25th. Finally, ValuEngine raised shares of 3M from a “sell” rating to a “hold” rating in a research note on Saturday, July 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $234.67.

3M stock opened at $209.43 on Wednesday. The company has a market capitalization of $120.43 billion, a PE ratio of 21.56, a P/E/G ratio of 1.95 and a beta of 1.17. 3M Co has a twelve month low of $190.57 and a twelve month high of $259.77. The company has a quick ratio of 1.08, a current ratio of 1.56 and a debt-to-equity ratio of 1.08.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.58 by $0.01. The company had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.36 billion. 3M had a net margin of 13.44% and a return on equity of 51.31%. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.58 earnings per share. equities research analysts predict that 3M Co will post 10.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Friday, August 24th will be issued a $1.36 dividend. This represents a $5.44 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, August 23rd. 3M’s dividend payout ratio (DPR) is presently 59.32%.

3M Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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