Rothschild Investment Corp IL decreased its position in 3M Co. (NYSE:MMM) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,942 shares of the company’s stock after selling 394 shares during the period. Rothschild Investment Corp IL’s holdings in 3M were worth $3,667,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of MMM. Wellington Management Group LLP raised its position 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 worth $661,657,000 after buying an additional 381,798 shares during the period. 1832 Asset Management L.P. raised its position in shares of 3M by 193.9% in the first quarter. 1832 Asset Management L.P. now owns 529,525 shares of the company’s stock valued at $136,753,000 after buying an additional 349,353 shares during the last quarter. BlackRock Group LTD raised its position 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 during the last quarter. Geode Capital Management LLC raised its position 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 during the last quarter. Finally, Virginia Retirement System acquired a new position in shares of 3M during the first quarter valued at about $37,256,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of 3M Co. (NYSE:MMM) traded up 0.49% on Friday, hitting $176.23. 2,419,430 shares of the company traded hands. The company has a market capitalization of $106.51 billion, a PE ratio of 22.49 and a beta of 1.07. The stock’s 50-day moving average price is $178.48 and its 200-day moving average price 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 announced its quarterly earnings data on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, beating the Zacks’ 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 period in the prior year, the firm posted $2.02 EPS. The company’s quarterly revenue was down .3% compared to the same quarter last year. On average, equities analysts predict that 3M Co. will post $8.21 earnings per share for the current year.
The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Wednesday, August 17th. 3M’s dividend payout ratio is presently 56.63%.
MMM has been the topic of several research reports. Morgan Stanley reissued a “sell” rating on shares of 3M in a report on Friday, June 10th. Sanford C. Bernstein reissued a “market perform” rating on shares of 3M in a report on Monday, June 27th. Jefferies Group reissued a “buy” rating on shares of 3M in a report on Wednesday, July 6th. Credit Suisse Group AG reissued a “buy” rating on shares of 3M in a report on Sunday, July 10th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $164.00 price objective on shares of 3M in a report on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. 3M has a consensus rating of “Hold” and an average target price of $167.11.
In other 3M news, insider James L. Bauman sold 9,066 shares of the 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 sale, the insider now directly owns 10,834 shares of the company’s stock, valued at approximately $1,933,002.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Khandpur K. Ashish sold 1,679 shares of the 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 sale, the vice president now directly owns 1,011 shares in the company, 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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