Bremer Trust National Association lowered its position in shares of 3M Co. (NYSE:MMM) by 20.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,046 shares of the company’s stock after selling 9,041 shares during the period. 3M accounts for about 1.7% of Bremer Trust National Association’s investment portfolio, making the stock its 5th largest position. Bremer Trust National Association’s holdings in 3M were worth $6,177,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Emerald Acquisition Ltd. purchased a new position in shares of 3M during the second quarter worth $179,251,000. Vanguard Group Inc. raised its position in shares of 3M by 2.0% in the second quarter. Vanguard Group Inc. now owns 42,183,048 shares of the company’s stock worth $7,387,096,000 after buying an additional 822,712 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of 3M during the second quarter worth $135,349,000. Alliancebernstein L.P. raised its position in shares of 3M by 44.1% in the second quarter. Alliancebernstein L.P. now owns 1,953,252 shares of the company’s stock worth $342,053,000 after buying an additional 598,174 shares during the last quarter. Finally, Jarislowsky Fraser Ltd raised its position in shares of 3M by 68.3% in the second quarter. Jarislowsky Fraser Ltd now owns 1,337,030 shares of the company’s stock worth $147,298,000 after buying an additional 542,697 shares during the last quarter. Hedge funds and other institutional investors own 65.53% of the company’s stock.
Shares of 3M Co. (NYSE:MMM) traded up 0.72% during trading on Friday, reaching $173.49. 945,845 shares of the company were exchanged. The firm has a 50-day moving average price of $170.01 and a 200-day moving average price of $173.79. The stock has a market capitalization of $104.35 billion, a P/E ratio of 21.87 and a beta of 1.04. 3M Co. has a 1-year low of $134.64 and a 1-year high of $182.27.
3M (NYSE:MMM) last released its earnings results on Tuesday, October 25th. The company reported $2.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.01. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.72 billion. 3M had a net margin of 16.40% and a return on equity of 42.27%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $2.05 EPS. Equities research analysts predict 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 issued a dividend of $1.11 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $4.44 dividend on an annualized basis and a yield of 2.56%. 3M’s dividend payout ratio (DPR) is presently 55.92%.
Several research analysts recently commented on MMM shares. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a research report on Tuesday, November 15th. Goldman Sachs Group Inc. lowered 3M from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $172.96 to $159.00 in a research report on Monday, November 21st. Barclays PLC upgraded 3M from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $171.00 to $194.00 in a research report on Monday, October 24th. Credit Suisse Group AG lifted their price target on 3M from $186.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. Finally, Royal Bank Of Canada dropped their price target on 3M from $159.00 to $155.00 and set an “underperform” rating for the company in a research report on Wednesday, October 26th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $170.80.
In other 3M news, insider Julie L. Bushman sold 10,424 shares of the stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $173.02, for a total transaction of $1,803,560.48. Following the sale, the insider now directly owns 32,717 shares in the company, valued at approximately $5,660,695.34. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Eric D. Hammes sold 504 shares of the 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 disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
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.