3M Company $MMM Shares Sold by Investment House LLC

Investment House LLC lessened its position in shares of 3M Company (NYSE:MMM) by 68.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,902 shares of the conglomerate’s stock after selling 4,090 shares during the period. Investment House LLC’s holdings in 3M were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its position in shares of 3M by 0.4% during the 2nd quarter. State Street Corp now owns 27,828,966 shares of the conglomerate’s stock valued at $4,505,788,000 after purchasing an additional 105,222 shares in the last quarter. Amundi raised its position in shares of 3M by 67.0% in the second quarter. Amundi now owns 4,536,148 shares of the conglomerate’s stock worth $734,448,000 after buying an additional 1,819,178 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 3M by 7.4% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,935,534 shares of the conglomerate’s stock valued at $637,202,000 after buying an additional 270,458 shares during the period. National Pension Service boosted its stake in 3M by 3.6% during the second quarter. National Pension Service now owns 1,401,543 shares of the conglomerate’s stock valued at $226,924,000 after buying an additional 48,167 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in 3M by 1.2% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 376,784 shares of the conglomerate’s stock valued at $61,849,000 after buying an additional 4,628 shares during the period. 65.25% of the stock is currently owned by hedge funds and other institutional investors.

3M Price Performance

Shares of 3M stock opened at $173.62 on Friday. The firm has a market capitalization of $89.72 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 2.29 and a beta of 0.99. The company has a current ratio of 1.41, a quick ratio of 0.91 and a debt-to-equity ratio of 3.01. 3M Company has a 12 month low of $139.34 and a 12 month high of $184.90. The business’s 50-day moving average price is $168.84 and its 200-day moving average price is $162.21.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 20th. The conglomerate reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.12. The company had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.61 billion. 3M had a return on equity of 123.11% and a net margin of 14.01%. 3M’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.19 EPS. Sell-side analysts forecast that 3M Company will post 9.14 EPS for the current fiscal year.

3M Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 24th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, August 24th. 3M’s payout ratio is presently 46.50%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MMM. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of 3M in a research note on Wednesday. Sanford C. Bernstein raised their price target on 3M from $171.00 to $197.00 and gave the company a “market perform” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on 3M from $185.00 to $191.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho boosted their price objective on 3M from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of 3M in a research report on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $185.36.

Insider Buying and Selling at 3M

In other news, insider Karin Chavez sold 3,635 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $182.51, for a total value of $663,423.85. Following the completion of the sale, the insider owned 14,035 shares of the company’s stock, valued at approximately $2,561,527.85. This represents a 20.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

3M Company Profile

3M is a diversified technology and manufacturing company headquartered in St. Paul, Minnesota. Founded in 1902 as Minnesota Mining and Manufacturing Company, it developed from a mining venture into a global enterprise known for applying materials science and engineering to a broad range of industrial, commercial and consumer applications.

The company develops and manufactures products including adhesives, abrasives, filtration systems, personal protective equipment, medical and dental supplies, electrical and electronic materials, automotive components, reflective materials and workplace safety solutions.