Simmons Bank lifted its stake in 3M Company (NYSE:MMM) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,768 shares of the conglomerate’s stock after purchasing an additional 8 shares during the period. Simmons Bank’s holdings in 3M were worth $1,618,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. C M Bidwell & Associates Ltd. purchased a new position in 3M in the second quarter valued at $4,441,000. Green Square Capital LLC boosted its holdings in 3M by 12.3% in the second quarter. Green Square Capital LLC now owns 3,875 shares of the conglomerate’s stock valued at $807,000 after purchasing an additional 424 shares during the period. Colonial Trust Advisors boosted its holdings in 3M by 5.5% in the second quarter. Colonial Trust Advisors now owns 10,446 shares of the conglomerate’s stock valued at $2,175,000 after purchasing an additional 546 shares during the period. Capital Research Global Investors purchased a new position in 3M in the second quarter valued at $89,237,000. Finally, L & S Advisors Inc boosted its holdings in 3M by 78.3% in the second quarter. L & S Advisors Inc now owns 31,930 shares of the conglomerate’s stock valued at $6,647,000 after purchasing an additional 14,026 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.
In other news, insider Frank R. Jr. Little sold 2,719 shares of the stock in a transaction dated Thursday, August 17th. The shares were 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 of the company’s stock, valued at $1,856,330.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul A. Keel sold 4,965 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the transaction, the insider now directly owns 5,503 shares in the company, valued at approximately $1,134,498.48. The disclosure for this sale can be found here. Insiders have sold 9,112 shares of company stock worth $1,878,890 in the last ninety days. Corporate insiders own 0.58% of the company’s stock.
A number of analysts have issued reports on MMM shares. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Morgan Stanley lifted their price target on 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. J P Morgan Chase & Co downgraded 3M from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $185.00 to $201.00 in a report on Wednesday, September 20th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $209.00 price target on shares of 3M in a report on Friday, September 15th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $227.00 price target on shares of 3M in a report on Thursday, September 14th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. 3M presently has an average rating of “Hold” and a consensus price target of $205.65.
3M Company (NYSE:MMM) traded up 0.07% during mid-day trading on Friday, hitting $216.52. The stock had a trading volume of 1,650,834 shares. The company has a 50-day moving average of $208.30 and a 200-day moving average of $203.27. The firm has a market cap of $129.21 billion, a PE ratio of 24.70 and a beta of 1.09. 3M Company has a 12-month low of $163.85 and a 12-month high of $217.61.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 EPS 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 company had revenue of $7.81 billion for the quarter, compared to the consensus estimate of $7.86 billion. During the same period in the previous year, the business posted $2.08 EPS. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that 3M Company will post $8.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were given a dividend of $1.175 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.70 annualized dividend and a dividend yield of 2.17%. 3M’s payout ratio is 53.59%.
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.
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