Dempze Nancy E boosted its stake in shares of 3M Co. (NYSE:MMM) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 12,912 shares of the company’s stock after buying an additional 17 shares during the period. 3M makes up approximately 4.0% of Dempze Nancy E’s portfolio, making the stock its 2nd largest position. Dempze Nancy E’s holdings in 3M were worth $2,262,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in MMM. Geode Capital Management LLC boosted its stake in shares of 3M by 5.0% in the first quarter. Geode Capital Management LLC now owns 5,330,612 shares of the company’s stock valued at $886,575,000 after buying an additional 251,776 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of 3M by 1.2% in the first quarter. TIAA CREF Investment Management LLC now owns 5,008,441 shares of the company’s stock valued at $834,557,000 after buying an additional 60,719 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of 3M by 6.3% in the first quarter. BlackRock Group LTD now owns 4,993,026 shares of the company’s stock valued at $831,988,000 after buying an additional 297,153 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of 3M by 10.6% in the first quarter. Wellington Management Group LLP now owns 3,970,813 shares of the company’s stock valued at $661,657,000 after buying an additional 381,798 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of 3M by 10.8% in the second quarter. American Century Companies Inc. now owns 2,836,134 shares of the company’s stock valued at $496,664,000 after buying an additional 276,535 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.
3M Co. (NYSE:MMM) traded down 0.82% during mid-day trading on Monday, hitting $174.79. The company’s stock had a trading volume of 768,476 shares. The company has a market cap of $105.64 billion, a P/E ratio of 22.31 and a beta of 0.99. The firm’s 50-day moving average is $178.48 and its 200-day moving average is $172.84. 3M Co. has a 12-month low of $134.64 and a 12-month high of $182.27.
3M (NYSE:MMM) last released its earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.01. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.73 billion. 3M had a return on equity of 41.84% and a net margin of 16.29%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.02 earnings per share. Analysts predict that 3M Co. will post $8.21 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.52%. 3M’s dividend payout ratio is 56.63%.
Several equities research analysts have weighed in on MMM shares. Morgan Stanley reiterated a “sell” rating and issued a $168.00 price objective on shares of 3M in a report on Tuesday, August 23rd. Zacks Investment Research cut 3M from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Credit Suisse Group AG reiterated a “buy” rating and issued a $195.00 price objective on shares of 3M in a report on Friday, September 16th. Deutsche Bank AG reiterated a “hold” rating and issued a $164.00 price objective on shares of 3M in a report on Thursday, August 25th. Finally, Sanford C. Bernstein reiterated a “market perform” rating on shares of 3M in a report on Monday, June 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $167.11.
In related news, VP Khandpur K. Ashish sold 1,679 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $178.39, for a total value of $299,516.81. Following the completion of the sale, the vice president now owns 1,011 shares in the company, valued at $180,352.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James L. Bauman sold 9,066 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $178.42, for a total value of $1,617,555.72. Following the completion of the sale, the insider now owns 10,834 shares of the company’s stock, valued at approximately $1,933,002.28. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.
3M Company Profile
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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