Trading Report: The Mark Sheptoff Financial Planning LLC invests in 499 by purchasing 3M Co. (MMM) shares

The Mark Sheptoff Financial Planning LLC invests in 499 by purchasing 3M Co. (MMM) shares

Mark Sheptoff Financial Planning LLC increased its position in shares of 3M Co. (NYSE:MMM) by 10.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,266 shares of the company’s stock after buying an additional 499 shares during the period. Mark Sheptoff Financial Planning LLC’s holdings in 3M were worth $922,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the stock. St. Johns Investment Management Company LLC raised its position in shares of 3M by 2.7% in the first quarter. St. Johns Investment Management Company LLC now owns 9,013 shares of the company’s stock valued at $1,502,000 after buying an additional 234 shares in the last quarter. Sumitomo Life Insurance Co. raised its position in shares of 3M by 4.4% in the first quarter. Sumitomo Life Insurance Co. now owns 35,094 shares of the company’s stock valued at $5,848,000 after buying an additional 1,492 shares in the last quarter. RDL Financial Inc. raised its position in shares of 3M by 10.0% in the first quarter. RDL Financial Inc. now owns 11,384 shares of the company’s stock valued at $1,897,000 after buying an additional 1,033 shares in the last quarter. Acropolis Investment Management LLC raised its position in shares of 3M by 5.6% in the first quarter. Acropolis Investment Management LLC now owns 13,365 shares of the company’s stock valued at $2,227,000 after buying an additional 707 shares in the last quarter. Finally, Duncker Streett & Co. Inc. raised its position in shares of 3M by 1.7% in the first quarter. Duncker Streett & Co. Inc. now owns 15,694 shares of the company’s stock valued at $2,615,000 after buying an additional 262 shares in the last quarter. Institutional investors and hedge funds own 65.67% of the company’s stock.

3M Co. (NYSE:MMM) traded down 0.18% on Friday, reaching $171.33. The company had a trading volume of 2,249,588 shares. The stock has a 50 day moving average price of $177.42 and a 200 day moving average price of $173.15. 3M Co. has a 52-week low of $134.64 and a 52-week high of $182.27. The stock has a market capitalization of $103.55 billion, a PE ratio of 21.87 and a beta of 0.99.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.01. 3M had a net margin of 16.29% and a return on equity of 41.84%. The firm earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts expect that 3M Co. will post $8.21 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.11 dividend. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $4.44 dividend on an annualized basis and a yield of 2.59%. 3M’s dividend payout ratio (DPR) is presently 56.63%.

Several equities analysts recently weighed in on MMM shares. Sanford C. Bernstein restated a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of 3M in a report on Wednesday, July 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of 3M in a report on Sunday, July 10th. Morgan Stanley reiterated a “sell” rating and issued a $168.00 price objective on shares of 3M in a report on Tuesday, August 23rd. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $164.00 price objective on shares of 3M in a report on Thursday, August 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $167.11.

In other 3M news, insider James L. Bauman sold 9,066 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $178.42, for a total value of $1,617,555.72. Following the completion of the transaction, the insider now directly owns 10,834 shares of the company’s stock, valued at $1,933,002.28. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Khandpur K. Ashish sold 1,679 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $178.39, for a total transaction of $299,516.81. Following the completion of the transaction, the vice president now directly owns 1,011 shares of the company’s stock, valued at $180,352.29. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

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.

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