Princeton Portfolio Strategies Group LLC Has $1,474,000 Holdings in 3M Company (MMM)

Princeton Portfolio Strategies Group LLC maintained its stake in 3M Company (NYSE:MMM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,079 shares of the conglomerate’s stock at the end of the 2nd quarter. Princeton Portfolio Strategies Group LLC’s holdings in 3M were worth $1,474,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in shares of 3M by 0.3% during the first quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock worth $626,792,000 after acquiring an additional 8,239 shares during the period. Smithfield Trust Co. raised its holdings in shares of 3M by 0.7% during the first quarter. Smithfield Trust Co. now owns 17,364 shares of the conglomerate’s stock worth $3,322,000 after acquiring an additional 122 shares during the period. C.V. Starr & Co. Inc. Trust raised its holdings in shares of 3M by 20.0% during the first quarter. C.V. Starr & Co. Inc. Trust now owns 60,000 shares of the conglomerate’s stock worth $11,480,000 after acquiring an additional 10,000 shares during the period. Twin Capital Management Inc. acquired a new stake in shares of 3M during the second quarter worth $6,178,000. Finally, Gotham Asset Management LLC raised its holdings in shares of 3M by 3.6% during the first quarter. Gotham Asset Management LLC now owns 99,873 shares of the conglomerate’s stock worth $19,109,000 after acquiring an additional 3,427 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

3M Company (NYSE:MMM) traded up 0.07% on Friday, reaching $216.52. 1,650,834 shares of the company were exchanged. 3M Company has a 12-month low of $163.85 and a 12-month high of $217.61. The company’s 50-day moving average price is $208.30 and its 200-day moving average price is $203.27. The stock has a market capitalization of $129.21 billion, a P/E ratio of 24.70 and a beta of 1.09.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $7.86 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts anticipate that 3M Company will post $8.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were issued a dividend of $1.175 per share. The ex-dividend date was Wednesday, August 23rd. This represents a $4.70 annualized dividend and a yield of 2.17%. 3M’s payout ratio is 53.59%.

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In other 3M news, VP Eric D. Hammes sold 1,428 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $206.66, for a total transaction of $295,110.48. Following the transaction, the vice president now owns 3,066 shares in the company, valued at $633,619.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Frank R. Jr. Little sold 2,719 shares of the company’s stock in a transaction 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 transaction, the insider now owns 9,010 shares in the company, valued at approximately $1,856,330.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,112 shares of company stock worth $1,878,890. Corporate insiders own 0.58% of the company’s stock.

MMM has been the topic of a number of research analyst reports. BidaskClub lowered shares of 3M from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Morgan Stanley restated an “underweight” rating and set a $191.00 price objective (down from $193.00) on shares of 3M in a report on Monday, July 10th. Stifel Nicolaus restated a “hold” rating and set a $202.00 price objective on shares of 3M in a report on Wednesday, July 19th. William Blair restated an “outperform” rating on shares of 3M in a report on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $209.00 price objective (down from $210.00) on shares of 3M in a report on Wednesday, July 26th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $205.65.

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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