Segall Bryant & Hamill LLC boosted its position in 3M Company (NYSE:MMM) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 136,399 shares of the conglomerate’s stock after acquiring an additional 2,702 shares during the period. Segall Bryant & Hamill LLC’s holdings in 3M were worth $28,630,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in MMM. Karp Capital Management Corp grew its holdings in 3M by 16,353.8% in the 1st quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock worth $94,947,000 after acquiring an additional 493,230 shares during the last quarter. Capital Research Global Investors bought a new stake in 3M in the 2nd quarter worth $89,237,000. State of Tennessee Treasury Department grew its holdings in 3M by 92.6% in the 1st quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock worth $87,828,000 after acquiring an additional 220,741 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in 3M by 3.9% in the 1st quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock worth $844,511,000 after acquiring an additional 167,491 shares during the last quarter. Finally, Coho Partners Ltd. grew its holdings in 3M by 26.8% in the 2nd quarter. Coho Partners Ltd. now owns 687,532 shares of the conglomerate’s stock worth $143,137,000 after acquiring an additional 145,318 shares during the last quarter. 66.33% of the stock is currently owned by institutional investors and hedge funds.
3M Company (NYSE MMM) traded up $0.41 during trading hours on Thursday, reaching $238.67. 1,924,000 shares of the company traded hands, compared to its average volume of 1,840,447. 3M Company has a 1-year low of $171.97 and a 1-year high of $244.23. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. The company has a market capitalization of $141,909.59, a price-to-earnings ratio of 26.62, a P/E/G ratio of 2.58 and a beta of 1.10.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. 3M’s quarterly revenue was up 6.0% on a year-over-year basis. analysts anticipate that 3M Company will post 9.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be paid a dividend of $0.0118 per share. This represents a $0.05 annualized dividend and a yield of 0.02%. The ex-dividend date is Wednesday, November 22nd. 3M’s payout ratio is currently 52.51%.
A number of equities research analysts have issued reports on MMM shares. Jefferies Group reissued a “buy” rating and issued a $234.00 price target on shares of 3M in a report on Wednesday, August 16th. Bank of America reaffirmed a “buy” rating and set a $227.00 target price on shares of 3M in a research note on Thursday, September 14th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $209.00 target price on shares of 3M in a research note on Friday, September 15th. J P Morgan Chase & Co lowered shares of 3M from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $185.00 to $201.00 in a research note on Wednesday, September 20th. Finally, Morgan Stanley lifted their target price on shares of 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. 3M has an average rating of “Hold” and an average target price of $231.16.
In related news, Chairman Inge G. Thulin sold 6,823 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $233.14, for a total transaction of $1,590,714.22. Following the sale, the chairman now owns 196,906 shares of the company’s stock, valued at $45,906,664.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jon T. Lindekugel sold 400 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $230.06, for a total transaction of $92,024.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock worth $5,303,706 in the last three months. 0.58% of the stock is currently owned by insiders.
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3M Company 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, , 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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