Stillwater Investment Management LLC cut its position in shares of 3M Co. (NYSE:MMM) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,383 shares of the company’s stock after selling 42 shares during the period. 3M accounts for 2.5% of Stillwater Investment Management LLC’s holdings, making the stock its 5th largest position. Stillwater Investment Management LLC’s holdings in 3M were worth $4,649,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the stock. Cable Hill Partners LLC raised its stake in shares of 3M by 5.0% in the second quarter. Cable Hill Partners LLC now owns 583 shares of the company’s stock worth $103,000 after buying an additional 28 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in shares of 3M by 38.1% in the second quarter. Reilly Financial Advisors LLC now owns 645 shares of the company’s stock worth $113,000 after buying an additional 178 shares during the last quarter. CenturyLink Investment Management Co purchased a new stake in shares of 3M during the second quarter worth approximately $116,000. Jackson Grant Investment Advisers Inc. raised its stake in shares of 3M by 7.5% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 706 shares of the company’s stock worth $124,000 after buying an additional 49 shares during the last quarter. Finally, Cascade Investment Advisors Inc. purchased a new stake in shares of 3M during the second quarter worth approximately $125,000. Institutional investors own 65.53% of the company’s stock.
3M Co. (NYSE:MMM) traded up 0.72% on Friday, hitting $173.49. The company’s stock had a trading volume of 945,845 shares. The stock has a market cap of $104.35 billion, a PE ratio of 21.87 and a beta of 1.04. The firm has a 50 day moving average of $170.01 and a 200-day moving average of $173.79. 3M Co. has a 12 month low of $134.64 and a 12 month high of $182.27.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.01. The company earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.72 billion. 3M had a return on equity of 42.27% and a net margin of 16.40%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 earnings per share. On average, analysts expect that 3M Co. will post $8.17 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, November 18th will be paid a $1.11 dividend. 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 payout ratio is 55.92%.
MMM has been the topic of a number of recent analyst reports. Credit Suisse Group AG restated a “buy” rating and set a $195.00 target price on shares of 3M in a report on Friday, September 16th. Jefferies Group restated a “buy” rating on shares of 3M in a report on Thursday, August 4th. Zacks Investment Research upgraded 3M from a “sell” rating to a “hold” rating in a report on Tuesday, November 15th. Deutsche Bank AG restated a “hold” rating and set a $164.00 target price on shares of 3M in a report on Thursday, August 25th. Finally, Barclays PLC upgraded 3M from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $171.00 to $194.00 in a report on Monday, October 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. 3M has an average rating of “Hold” and a consensus price target of $170.80.
In related news, insider Julie L. Bushman sold 10,424 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $173.02, for a total transaction of $1,803,560.48. Following the sale, the insider now owns 32,717 shares in the company, valued at approximately $5,660,695.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eric D. Hammes sold 504 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $173.69, for a total value of $87,539.76. The disclosure for this sale can be found here. 0.58% of the stock is owned by 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.