Markel Corp held its position in shares of 3M Co. (NYSE:MMM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,000 shares of the company’s stock at the end of the second quarter. 3M comprises 0.9% of Markel Corp’s portfolio, making the stock its 29th largest position. Markel Corp’s holdings in 3M were worth $35,725,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Reilly Financial Advisors LLC boosted 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 period. CenturyLink Investment Management Co acquired a new stake in 3M during the second quarter valued at approximately $116,000. Parasol Investment Management LLC boosted its stake in 3M by 12.6% in the second quarter. Parasol Investment Management LLC now owns 896 shares of the company’s stock valued at $157,000 after buying an additional 100 shares during the period. Pointe Capital Management LLC acquired a new stake in 3M during the second quarter valued at approximately $201,000. Finally, Clarius Group LLC acquired a new stake in 3M during the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 65.66% of the company’s stock.
Shares of 3M Co. (NYSE:MMM) traded down 1.20% on Friday, reaching $177.70. The company had a trading volume of 1,339,557 shares. The firm has a market capitalization of $107.40 billion, a PE ratio of 22.68 and a beta of 1.07. 3M Co. has a 12 month low of $134.64 and a 12 month high of $182.27. The company’s 50-day moving average is $178.88 and its 200 day moving average is $172.17.
3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.01. The company earned $7.70 billion during the quarter, compared to the consensus estimate of $7.73 billion. 3M had a return on equity of 41.84% and a net margin of 16.29%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.02 EPS. Equities analysts forecast that 3M Co. will post $8.21 earnings per share for the current year.
The business also recently declared 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 was Wednesday, August 17th. This represents a $4.44 annualized dividend and a dividend yield of 2.47%. 3M’s dividend payout ratio (DPR) is presently 56.63%.
Several analysts have commented on MMM shares. Morgan Stanley restated a “sell” rating and issued a $168.00 price target on shares of 3M in a report on Tuesday, August 23rd. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $195.00 price objective on shares of 3M in a research note on Friday, September 16th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $164.00 price objective on shares of 3M in a research note on Thursday, August 25th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Finally, Jefferies Group lifted their price objective on 3M from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and an average target price of $167.11.
In other news, insider Paul A. Keel sold 3,180 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $178.39, for a total transaction of $567,280.20. Following the completion of the sale, the insider now owns 9,961 shares in the company, valued at approximately $1,776,942.79. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider James L. Bauman sold 9,066 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $178.42, for a total value of $1,617,555.72. Following 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 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.