Sapient Capital LLC purchased a new stake in shares of 3M (NYSE:MMM – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,107 shares of the conglomerate’s stock, valued at approximately $886,000.
Other large investors have also added to or reduced their stakes in the company. Fragasso Group Inc. raised its stake in 3M by 3.8% during the third quarter. Fragasso Group Inc. now owns 2,556 shares of the conglomerate’s stock valued at $239,000 after purchasing an additional 93 shares in the last quarter. Bangor Savings Bank raised its position in shares of 3M by 1.0% during the 4th quarter. Bangor Savings Bank now owns 10,489 shares of the conglomerate’s stock valued at $1,147,000 after buying an additional 104 shares in the last quarter. Allen Capital Group LLC lifted its holdings in shares of 3M by 0.5% in the 4th quarter. Allen Capital Group LLC now owns 20,931 shares of the conglomerate’s stock valued at $2,288,000 after acquiring an additional 105 shares during the last quarter. N.E.W. Advisory Services LLC grew its position in 3M by 4.0% in the third quarter. N.E.W. Advisory Services LLC now owns 2,900 shares of the conglomerate’s stock worth $272,000 after acquiring an additional 111 shares in the last quarter. Finally, Money Concepts Capital Corp increased its stake in 3M by 5.3% during the third quarter. Money Concepts Capital Corp now owns 2,244 shares of the conglomerate’s stock worth $210,000 after acquiring an additional 112 shares during the last quarter. Institutional investors own 65.25% of the company’s stock.
Insider Transactions at 3M
In other news, insider Rodriguez Beatriz Karin Chavez sold 426 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $92.32, for a total value of $39,328.32. Following the completion of the sale, the insider now owns 3,966 shares of the company’s stock, valued at approximately $366,141.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.
Analysts Set New Price Targets
Check Out Our Latest Stock Analysis on 3M
3M Trading Up 0.4 %
MMM stock traded up $0.34 during mid-day trading on Friday, reaching $97.15. The company had a trading volume of 4,818,713 shares, compared to its average volume of 4,770,578. The company has a debt-to-equity ratio of 4.17, a current ratio of 1.64 and a quick ratio of 0.76. The company has a market capitalization of $53.76 billion, a PE ratio of -7.64, a price-to-earnings-growth ratio of 1.78 and a beta of 1.00. The firm has a 50 day moving average of $96.14 and a 200 day moving average of $97.59. 3M has a 12 month low of $71.12 and a 12 month high of $99.70.
3M (NYSE:MMM – Get Free Report) last issued its earnings results on Tuesday, April 30th. The conglomerate reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.29. The business had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.64 billion. 3M had a negative net margin of 21.57% and a positive return on equity of 95.80%. During the same period in the prior year, the firm earned $1.97 EPS. On average, equities analysts predict that 3M will post 7.23 earnings per share for the current fiscal year.
3M Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 12th. Shareholders of record on Friday, February 16th were paid a $1.51 dividend. This is an increase from 3M’s previous quarterly dividend of $1.50. This represents a $6.04 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend was Thursday, February 15th. 3M’s dividend payout ratio is currently -47.48%.
About 3M
3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.
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