Boston Family Office LLC lowered its position in shares of 3M Co (NYSE:MMM) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 37,487 shares of the conglomerate’s stock after selling 266 shares during the quarter. Boston Family Office LLC’s holdings in 3M were worth $8,823,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. APG Asset Management N.V. lifted its stake in shares of 3M by 128.1% in the 4th quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock valued at $279,776,000 after acquiring an additional 801,639 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of 3M by 38.9% in the 4th quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock valued at $218,981,000 after acquiring an additional 260,349 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in shares of 3M by 229.3% in the 4th quarter. Teacher Retirement System of Texas now owns 363,943 shares of the conglomerate’s stock valued at $85,661,000 after acquiring an additional 253,420 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of 3M by 8.6% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,024,371 shares of the conglomerate’s stock valued at $476,476,000 after acquiring an additional 159,668 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of 3M by 4.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock valued at $746,391,000 after acquiring an additional 142,799 shares during the last quarter. 66.17% of the stock is owned by hedge funds and other institutional investors.
In other 3M news, EVP Michael F. Roman sold 4,146 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $246.65, for a total transaction of $1,022,610.90. Following the transaction, the executive vice president now owns 16,208 shares in the company, valued at approximately $3,997,703.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Inge G. Thulin sold 35,236 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the transaction, the chairman now owns 253,873 shares in the company, valued at approximately $63,757,665.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,673 shares of company stock worth $12,420,577. 0.58% of the stock is owned by company insiders.
3M Co (NYSE:MMM) opened at $237.02 on Friday. 3M Co has a twelve month low of $186.30 and a twelve month high of $259.77. The stock has a market capitalization of $141,150.00, a PE ratio of 25.85, a P/E/G ratio of 2.19 and a beta of 1.08. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.
3M (NYSE:MMM) last announced its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company had revenue of $7.99 billion for the quarter, compared to the consensus estimate of $7.85 billion. During the same quarter in the previous year, the business earned $1.88 EPS. 3M’s revenue was up 9.0% compared to the same quarter last year. equities analysts forecast that 3M Co will post 10.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, February 15th. This is an increase from 3M’s previous quarterly dividend of $0.01. 3M’s payout ratio is currently 59.32%.
A number of research firms have recently weighed in on MMM. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a research note on Monday, January 15th. UBS Group began coverage on 3M in a research note on Tuesday, January 23rd. They issued a “neutral” rating and a $262.00 target price for the company. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $221.00 target price (up previously from $208.00) on shares of 3M in a research note on Thursday, January 18th. Vetr raised 3M from a “buy” rating to a “strong-buy” rating and set a $254.92 target price for the company in a research note on Monday, February 12th. Finally, Deutsche Bank boosted their target price on 3M from $180.00 to $240.00 and gave the company a “hold” rating in a research note on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. 3M currently has an average rating of “Hold” and an average target price of $254.25.
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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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