Waldron LP continued to hold its position in 3M Co. (NYSE:MMM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,265 shares of the company’s stock at the end of the second quarter. Waldron LP’s holdings in 3M were worth $321,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Reilly Financial Advisors LLC increased its stake in 3M by 38.1% in the second quarter. Reilly Financial Advisors LLC now owns 645 shares of the company’s stock worth $113,000 after buying an additional 178 shares during the last quarter. CenturyLink Investment Management Co purchased a new stake in 3M during the second quarter worth approximately $116,000. Jackson Grant Investment Advisers Inc. increased its stake in 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 during the last quarter. Parasol Investment Management LLC increased its stake in 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 during the last quarter. Finally, Pointe Capital Management LLC purchased a new stake in 3M during the second quarter worth approximately $201,000. 65.67% of the stock is currently owned by institutional investors and hedge funds.
Shares of 3M Co. (NYSE:MMM) traded up 0.61% during midday trading on Monday, reaching $172.38. The company’s stock had a trading volume of 326,012 shares. The stock has a market capitalization of $104.19 billion, a PE ratio of 22.00 and a beta of 0.99. 3M Co. has a 52 week low of $134.64 and a 52 week high of $182.27. The stock has a 50-day moving average price of $177.42 and a 200 day moving average price of $173.15.
3M (NYSE:MMM) last issued its earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. The business 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 period in the previous year, the firm 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 announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Wednesday, August 17th. 3M’s payout ratio is 56.63%.
A number of analysts have commented on MMM shares. Sanford C. Bernstein reiterated a “market perform” rating on shares of 3M in a research report on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of 3M in a research report on Wednesday, July 6th. Credit Suisse Group AG restated a “buy” rating on shares of 3M in a research report on Sunday, July 10th. Morgan Stanley restated a “sell” rating and issued a $168.00 price objective on shares of 3M in a research report on Tuesday, August 23rd. Finally, Deutsche Bank AG restated a “hold” rating and issued a $164.00 price objective on shares of 3M in a research report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company presently 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 firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $178.39, for a total value of $567,280.20. Following the completion of the sale, the insider now owns 9,961 shares of the company’s stock, valued at $1,776,942.79. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Khandpur K. Ashish sold 1,679 shares of the firm’s stock in a transaction 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 directly owns 1,011 shares of the company’s stock, valued at approximately $180,352.29. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate 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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