Nwam LLC boosted its stake in 3M Co. (NYSE:MMM) by 13.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,445 shares of the company’s stock after buying an additional 534 shares during the period. Nwam LLC’s holdings in 3M were worth $783,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Delphi Private Advisors LLC raised its position in shares of 3M by 0.4% in the second quarter. Delphi Private Advisors LLC now owns 909 shares of the company’s stock valued at $159,000 after buying an additional 4 shares in the last quarter. Harwood Advisory Group LLC raised its position in shares of 3M by 0.3% in the third quarter. Harwood Advisory Group LLC now owns 1,455 shares of the company’s stock valued at $256,000 after buying an additional 4 shares in the last quarter. Landmark Financial Advisors LLC raised its position in shares of 3M by 0.3% in the second quarter. Landmark Financial Advisors LLC now owns 1,868 shares of the company’s stock valued at $327,000 after buying an additional 5 shares in the last quarter. Valley National Advisers Inc. raised its position in shares of 3M by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,391 shares of the company’s stock valued at $419,000 after buying an additional 7 shares in the last quarter. Finally, Founders Capital Management LLC raised its position in shares of 3M by 0.4% in the second quarter. Founders Capital Management LLC now owns 1,916 shares of the company’s stock valued at $336,000 after buying an additional 8 shares in the last quarter. 65.53% of the stock is owned by hedge funds and other institutional investors.
Shares of 3M Co. (NYSE:MMM) traded up 0.72% during mid-day trading on Friday, reaching $173.49. The company’s stock had a trading volume of 945,845 shares. The firm’s 50 day moving average is $170.01 and its 200 day moving average is $173.79. The firm has a market cap of $104.35 billion, a PE ratio of 21.87 and a beta of 1.04. 3M Co. has a one year low of $134.64 and a one year high of $182.27.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 25th. The company reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.01. 3M had a return on equity of 42.27% and a net margin of 16.40%. The business earned $7.70 billion during the quarter, compared to analyst estimates of $7.72 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts anticipate that 3M Co. will post $8.17 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $4.44 annualized dividend and a dividend yield of 2.56%. 3M’s dividend payout ratio (DPR) is presently 55.92%.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Jefferies Group reissued a “buy” rating on shares of 3M in a research report on Thursday, August 4th. Barclays PLC raised 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $171.00 to $194.00 in a research report on Monday, October 24th. RBC Capital Markets reissued an “underperform” rating and issued a $155.00 target price (down previously from $159.00) on shares of 3M in a research report on Wednesday, October 26th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $164.00 target price on shares of 3M in a research report on Thursday, August 25th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. 3M presently has a consensus rating of “Hold” and a consensus target price of $170.80.
In other 3M news, VP Eric D. Hammes sold 504 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $173.69, for a total transaction of $87,539.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Julie L. Bushman sold 10,771 shares of 3M stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $166.71, for a total transaction of $1,795,633.41. Following the sale, the insider now directly owns 34,093 shares of the company’s stock, valued at approximately $5,683,644.03. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
3M Company Profile
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.