Todays Report: Today: 3M Co. (MMM) Stake Raised by Catawba Capital Management VA

Today: 3M Co. (MMM) Stake Raised by Catawba Capital Management VA

Catawba Capital Management VA raised its position in shares of 3M Co. (NYSE:MMM) by 5.4% during the third quarter, Holdings Channel reports. The fund owned 23,290 shares of the company’s stock after buying an additional 1,185 shares during the period. Catawba Capital Management VA’s holdings in 3M were worth $4,104,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Delphi Private Advisors LLC increased its position in 3M by 0.4% in the second quarter. Delphi Private Advisors LLC now owns 909 shares of the company’s stock worth $159,000 after buying an additional 4 shares in the last quarter. Landmark Financial Advisors LLC increased its position in 3M by 0.3% in the second quarter. Landmark Financial Advisors LLC now owns 1,868 shares of the company’s stock worth $327,000 after buying an additional 5 shares in the last quarter. Valley National Advisers Inc. increased its position in 3M by 0.3% in the second quarter. Valley National Advisers Inc. now owns 2,391 shares of the company’s stock worth $419,000 after buying an additional 7 shares in the last quarter. Founders Capital Management LLC increased its position in 3M by 0.4% in the second quarter. Founders Capital Management LLC now owns 1,916 shares of the company’s stock worth $336,000 after buying an additional 8 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its position in 3M by 0.3% in the second quarter. Gilman Hill Asset Management LLC now owns 2,440 shares of the company’s stock worth $427,000 after buying an additional 8 shares in the last quarter. 63.36% of the stock is currently owned by hedge funds and other institutional investors.

3M Co. (NYSE:MMM) traded down 0.57% during trading on Monday, reaching $172.50. The company’s stock had a trading volume of 1,677,696 shares. The firm has a market capitalization of $103.75 billion, a P/E ratio of 21.75 and a beta of 1.04. 3M Co. has a one year low of $134.64 and a one year high of $182.27. The stock has a 50-day moving average of $170.01 and a 200 day moving average of $173.79.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.14 by $0.01. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.72 billion. 3M had a return on equity of 42.27% and a net margin of 16.40%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.05 EPS. On average, equities research analysts predict that 3M Co. will post $8.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Friday, November 18th will be paid a dividend of $1.11 per share. The ex-dividend date is Wednesday, November 16th. This represents a $4.44 annualized dividend and a yield of 2.57%. 3M’s payout ratio is presently 55.92%.

A number of research firms have weighed in on MMM. Jefferies Group reissued a “buy” rating and issued a $210.00 target price (up previously from $200.00) on shares of 3M in a report on Monday. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a report on Tuesday, November 15th. Barclays PLC raised 3M from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $171.00 to $194.00 in a report on Monday, October 24th. RBC Capital Markets restated an “underperform” rating and issued a $155.00 price target (down previously from $159.00) on shares of 3M in a research report on Wednesday, October 26th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $164.00 price target on shares of 3M in a research report on Thursday, August 25th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $170.80.

In other news, insider Julie L. Bushman sold 10,424 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $173.02, for a total value of $1,803,560.48. Following the completion of the transaction, the insider now owns 32,717 shares of the company’s stock, valued at approximately $5,660,695.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Julie L. Bushman sold 10,771 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $166.71, for a total value of $1,795,633.41. Following the completion of the transaction, 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.

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