Geneva Advisors LLC Has $4.31 Million Stake in 3M Company (MMM)

Geneva Advisors LLC cut its stake in shares of 3M Company (NYSE:MMM) by 3.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,690 shares of the conglomerate’s stock after selling 795 shares during the quarter. Geneva Advisors LLC’s holdings in 3M were worth $4,308,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC increased its holdings in shares of 3M by 156.0% during the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after acquiring an additional 404 shares in the last quarter. Jackson Grant Investment Advisers Inc. boosted its position in shares of 3M by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after buying an additional 4 shares during the last quarter. One Capital Management LLC purchased a new stake in shares of 3M during the first quarter valued at $202,000. FDO Partners LLC purchased a new stake in shares of 3M during the first quarter valued at $203,000. Finally, Ironwood Investment Management LLC purchased a new stake in shares of 3M during the second quarter valued at $203,000. Hedge funds and other institutional investors own 66.31% of the company’s stock.

Several equities research analysts recently commented on the company. Royal Bank Of Canada reaffirmed a “hold” rating and set a $209.00 price objective on shares of 3M in a research report on Friday. Jefferies Group LLC reaffirmed a “buy” rating and set a $234.00 price objective on shares of 3M in a research report on Wednesday, August 16th. BidaskClub cut 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $223.00 price objective on the stock in a research report on Friday, May 26th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $225.00 price objective (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $207.93.

In other news, insider Paul A. Keel sold 4,965 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $206.16, for a total value of $1,023,584.40. Following the sale, the insider now owns 5,503 shares in the company, valued at $1,134,498.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric D. Hammes sold 1,428 shares of the company’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the sale, the vice president now owns 3,066 shares in the company, valued at approximately $633,619.56. The disclosure for this sale can be found here. Insiders sold 9,112 shares of company stock worth $1,878,890 in the last 90 days. Company insiders own 0.58% of the company’s stock.

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3M Company (MMM) opened at 213.35 on Friday. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57. The stock’s 50 day moving average price is $205.40 and its 200-day moving average price is $200.88. The stock has a market capitalization of $127.32 billion, a PE ratio of 24.34 and a beta of 1.08.

3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.01). 3M had a net margin of 17.65% and a return on equity of 47.83%. The firm had revenue of $7.81 billion during the quarter, compared to analyst estimates of $7.86 billion. During the same period in the prior year, the company posted $2.08 earnings per share. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, equities analysts expect that 3M Company will post $8.94 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were paid a $1.175 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $4.70 dividend on an annualized basis and a dividend yield of 2.20%. 3M’s payout ratio is 53.59%.

3M Profile

3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.

Institutional Ownership by Quarter for 3M (NYSE:MMM)

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