Delaney Dennis R increased its position in 3M Co. (NYSE:MMM) by 0.0% during the second quarter, Holdings Channel reports. The firm owned 14,097 shares of the company’s stock after buying an additional 4 shares during the period. 3M accounts for approximately 5.3% of Delaney Dennis R’s portfolio, making the stock its 3rd largest position. Delaney Dennis R’s holdings in 3M were worth $2,468,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of MMM. Lodestar Investment Counsel LLC IL boosted its stake in shares of 3M by 8.4% in the first quarter. Lodestar Investment Counsel LLC IL now owns 79,270 shares of the company’s stock worth $13,209,000 after buying an additional 6,122 shares in the last quarter. Murphy Pohlad Asset Management LLC boosted its stake in 3M by 3.4% in the first quarter. Murphy Pohlad Asset Management LLC now owns 12,805 shares of the company’s stock worth $2,133,000 after buying an additional 421 shares during the period. Stokes & Hubbell Capital Management LLC boosted its stake in 3M by 7.9% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 2,485 shares of the company’s stock worth $414,000 after buying an additional 183 shares during the period. Tompkins Financial Corp boosted its stake in 3M by 4.1% in the first quarter. Tompkins Financial Corp now owns 16,905 shares of the company’s stock worth $2,817,000 after buying an additional 667 shares during the period. Finally, Carroll Financial Associates Inc. boosted its stake in 3M by 2.3% in the first quarter. Carroll Financial Associates Inc. now owns 12,558 shares of the company’s stock worth $2,092,000 after buying an additional 286 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.
3M Co. (NYSE:MMM) traded down 0.24% during mid-day trading on Thursday, hitting $171.97. 899,588 shares of the stock traded hands. 3M Co. has a 52 week low of $134.64 and a 52 week high of $182.27. The firm has a market cap of $103.94 billion, a P/E ratio of 21.95 and a beta of 0.99. The firm’s 50-day moving average price is $177.88 and its 200-day moving average price is $173.11.
3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.01. 3M had a net margin of 16.29% and a return on equity of 41.84%. The firm earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the prior year, the company posted $2.02 EPS. The company’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that 3M Co. will post $8.21 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were given a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 17th. 3M’s dividend payout ratio (DPR) is currently 56.63%.
A number of equities research analysts have issued reports on MMM shares. Morgan Stanley restated a “sell” rating and set a $168.00 price target on shares of 3M in a report on Tuesday, August 23rd. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Credit Suisse Group AG restated a “buy” rating and set a $195.00 price target on shares of 3M in a report on Friday, September 16th. Deutsche Bank AG restated a “hold” rating and set a $164.00 price target on shares of 3M in a report on Thursday, August 25th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of 3M in a report on Monday, June 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. 3M presently has an average rating of “Hold” and a consensus target price of $167.11.
In other 3M news, insider Paul A. Keel sold 3,180 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $178.39, for a total value of $567,280.20. Following the completion of the transaction, the insider now directly owns 9,961 shares in the company, valued at approximately $1,776,942.79. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Khandpur K. Ashish sold 1,679 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $178.39, for a total transaction of $299,516.81. Following the completion of the transaction, the vice president now owns 1,011 shares of the company’s stock, valued at $180,352.29. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.
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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