3M Company (MMM) Stake Held by Private Capital Advisors Inc.

Private Capital Advisors Inc. maintained its position in 3M Company (NYSE:MMM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,775 shares of the conglomerate’s stock at the end of the second quarter. Private Capital Advisors Inc.’s holdings in 3M were worth $370,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MMM. American Century Companies Inc. raised its stake in 3M by 37.1% in the first quarter. American Century Companies Inc. now owns 3,148,266 shares of the conglomerate’s stock worth $602,358,000 after buying an additional 852,262 shares in the last quarter. Karp Capital Management Corp raised its stake in 3M by 16,353.8% in the first quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock worth $94,947,000 after buying an additional 493,230 shares in the last quarter. Swiss National Bank raised its stake in 3M by 26.6% in the first quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock worth $407,782,000 after buying an additional 447,900 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 3M by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock worth $1,309,651,000 after buying an additional 300,345 shares in the last quarter. Finally, State of Tennessee Treasury Department raised its stake in 3M by 92.6% in the first quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock worth $87,828,000 after buying an additional 220,741 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

In other news, VP Eric D. Hammes sold 1,428 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were 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 of the company’s stock, valued at approximately $633,619.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frank R. Jr. Little sold 2,719 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $206.03, for a total transaction of $560,195.57. Following the completion of the sale, the insider now directly owns 9,010 shares of the company’s stock, valued at approximately $1,856,330.30. The disclosure for this sale can be found here. Insiders sold a total of 9,112 shares of company stock valued at $1,878,890 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.

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Shares of 3M Company (NYSE:MMM) traded down 0.23% during trading on Tuesday, hitting $213.26. 639,305 shares of the company’s stock were exchanged. 3M Company has a one year low of $163.85 and a one year high of $214.65. The stock has a market cap of $127.27 billion, a P/E ratio of 24.33 and a beta of 1.08. The firm has a 50-day moving average price of $205.81 and a 200-day moving average price of $201.24.

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

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

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of 3M from $178.00 to $193.00 and gave the stock an “underweight” rating in a research note on Friday, June 9th. BidaskClub downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “hold” rating and issued a $202.00 price target on shares of 3M in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research note on Monday, June 19th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $209.00 price target (down from $210.00) on shares of 3M in a research note on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $207.93.

About 3M

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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