Saturna Capital CORP decreased its stake in 3M Co. (NYSE:MMM) by 0.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,367 shares of the company’s stock after selling 42 shares during the period. 3M makes up about 1.5% of Saturna Capital CORP’s holdings, making the stock its 20th largest position. Saturna Capital CORP’s holdings in 3M were worth $45,946,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Reilly Financial Advisors LLC raised its stake in 3M by 38.1% in the second quarter. Reilly Financial Advisors LLC now owns 645 shares of the company’s stock valued at $113,000 after buying an additional 178 shares during the last quarter. CenturyLink Investment Management Co bought a new position in shares of 3M during the second quarter worth $116,000. Jackson Grant Investment Advisers Inc. raised its position in shares of 3M by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock worth $124,000 after buying an additional 49 shares in the last quarter. Parasol Investment Management LLC raised its position in shares of 3M by 12.6% in the second quarter. Parasol Investment Management LLC now owns 896 shares of the company’s stock worth $157,000 after buying an additional 100 shares in the last quarter. Finally, Pointe Capital Management LLC bought a new position in shares of 3M during the second quarter worth $201,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.
3M Co. (NYSE:MMM) traded down 1.4677% during mid-day trading on Thursday, reaching $174.9835. 942,066 shares of the company traded hands. The stock has a 50-day moving average of $178.71 and a 200 day moving average of $172.72. 3M Co. has a 52-week low of $134.64 and a 52-week high of $182.27. The stock has a market capitalization of $105.76 billion, a PE ratio of 22.3336 and a beta of 1.07.
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 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 company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.73 billion. During the same quarter in the prior year, the firm earned $2.02 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts expect that 3M Co. will post $8.21 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Wednesday, August 17th. 3M’s dividend payout ratio (DPR) is presently 56.63%.
A number of brokerages recently weighed in on MMM. Morgan Stanley reaffirmed a “sell” rating on shares of 3M in a research note on Friday, June 10th. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $186.00 price target (up from $178.00) on shares of 3M in a research note on Thursday, July 28th. Jefferies Group reaffirmed a “buy” rating on shares of 3M in a research note on Thursday, August 4th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $164.00 price target on shares of 3M in a research note on Thursday, August 25th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. 3M presently has a consensus rating of “Hold” and a consensus price target of $167.11.
In other 3M news, VP Khandpur K. Ashish sold 1,679 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $178.39, for a total value of $299,516.81. Following the sale, the vice president now owns 1,011 shares of the company’s stock, valued at $180,352.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James L. Bauman sold 9,066 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $178.42, for a total transaction of $1,617,555.72. Following the completion of the sale, the insider now directly owns 10,834 shares in the company, valued at approximately $1,933,002.28. 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.
Receive News & Ratings for 3M Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Co. and related companies with MarketBeat.com's FREE daily email newsletter.