Clifford Swan Investment Counsel LLC Has $8.01 Million Position in 3M (NYSE:MMM)

Clifford Swan Investment Counsel LLC raised its position in 3M (NYSE:MMMGet Rating) by 2.1% in the third quarter, HoldingsChannel.com reports. The fund owned 72,466 shares of the conglomerate’s stock after purchasing an additional 1,514 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in 3M were worth $8,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in 3M by 0.3% in the second quarter. State Street Corp now owns 32,685,523 shares of the conglomerate’s stock valued at $4,229,834,000 after acquiring an additional 94,802 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 3M by 7.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate’s stock valued at $1,684,639,000 after acquiring an additional 758,126 shares during the last quarter. Northern Trust Corp raised its position in shares of 3M by 0.6% in the first quarter. Northern Trust Corp now owns 7,413,149 shares of the conglomerate’s stock valued at $1,103,670,000 after purchasing an additional 44,714 shares during the period. Legal & General Group Plc raised its position in shares of 3M by 3.5% in the second quarter. Legal & General Group Plc now owns 4,557,863 shares of the conglomerate’s stock valued at $589,837,000 after purchasing an additional 155,110 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of 3M by 2.5% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,003,577 shares of the conglomerate’s stock valued at $259,283,000 after purchasing an additional 48,400 shares during the period. Institutional investors and hedge funds own 65.61% of the company’s stock.

3M Price Performance

MMM stock traded down $0.13 during mid-day trading on Wednesday, hitting $114.87. The stock had a trading volume of 980,631 shares, compared to its average volume of 3,266,352. The company has a current ratio of 1.56, a quick ratio of 0.97 and a debt-to-equity ratio of 0.98. 3M has a 52 week low of $107.07 and a 52 week high of $175.25. The firm has a market capitalization of $63.49 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.27 and a beta of 1.00. The firm has a fifty day simple moving average of $124.56 and a 200 day simple moving average of $126.19.

3M (NYSE:MMMGet Rating) last released its earnings results on Tuesday, January 24th. The conglomerate reported $2.28 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.06). 3M had a net margin of 18.91% and a return on equity of 40.03%. The firm had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the business earned $2.31 earnings per share. 3M’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, research analysts forecast that 3M will post 10.17 EPS for the current year.

3M Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Friday, November 18th were paid a $1.49 dividend. The ex-dividend date was Thursday, November 17th. This represents a $5.96 dividend on an annualized basis and a dividend yield of 5.19%. 3M’s payout ratio is currently 51.92%.

Insider Activity

In other news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.28, for a total value of $135,245.88. Following the sale, the senior vice president now directly owns 3,313 shares in the company, valued at approximately $418,365.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Kevin H. Rhodes sold 5,703 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $126.40, for a total value of $720,859.20. Following the sale, the executive vice president now directly owns 2,033 shares in the company, valued at approximately $256,971.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of 3M stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $126.28, for a total transaction of $135,245.88. Following the sale, the senior vice president now owns 3,313 shares in the company, valued at $418,365.64. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MMM has been the topic of several research analyst reports. Citigroup increased their price objective on shares of 3M from $117.00 to $126.00 and gave the company a “neutral” rating in a research report on Friday, December 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of 3M from $126.00 to $127.00 in a research report on Wednesday, October 26th. Credit Suisse Group dropped their price objective on shares of 3M to $127.00 in a research report on Thursday, October 27th. StockNews.com assumed coverage on shares of 3M in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, UBS Group lowered their price target on shares of 3M from $124.00 to $115.00 in a research report on Wednesday. Three research analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $131.21.

3M Company Profile

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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

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