Somerset Group LLC lowered its position in 3M Co (NYSE:MMM) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,099 shares of the conglomerate’s stock after selling 1,688 shares during the quarter. 3M makes up approximately 12.2% of Somerset Group LLC’s holdings, making the stock its biggest position. Somerset Group LLC’s holdings in 3M were worth $14,183,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Rainier Group Investment Advisory LLC acquired a new position in shares of 3M during the 1st quarter worth about $114,000. Quattro Financial Advisors LLC acquired a new position in shares of 3M during the 1st quarter worth about $119,000. Stelac Advisory Services LLC acquired a new position in shares of 3M during the 1st quarter worth about $125,000. Braun Bostich & Associates Inc. lifted its position in shares of 3M by 221.7% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 698 shares of the conglomerate’s stock worth $137,000 after purchasing an additional 481 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of 3M during the 2nd quarter worth about $149,000. 66.29% of the stock is owned by institutional investors.

In other news, insider Eric D. Hammes sold 1,272 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $216.00, for a total value of $274,752.00. Following the sale, the insider now directly owns 5,634 shares in the company, valued at approximately $1,216,944. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jon T. Lindekugel sold 6,410 shares of the company’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $203.01, for a total value of $1,301,294.10. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

Several research firms recently weighed in on MMM. MED cut 3M from a “buy” rating to a “hold” rating and set a $208.00 price objective for the company. in a research report on Thursday, July 12th. Morgan Stanley started coverage on 3M in a report on Monday, August 20th. They issued an “equal weight” rating and a $212.00 price target for the company. Zacks Investment Research raised 3M from a “sell” rating to a “hold” rating in a report on Thursday, August 23rd. Jefferies Financial Group cut 3M from a “buy” rating to a “hold” rating and cut their price target for the company from $259.77 to $200.00 in a report on Wednesday, May 16th. Finally, Deutsche Bank reaffirmed a “hold” rating and issued a $208.00 price target on shares of 3M in a report on Thursday, July 12th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $234.97.

3M stock opened at $206.71 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.56 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $124.23 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 2.01 and a beta of 1.16. 3M Co has a 12 month low of $190.57 and a 12 month high of $259.77.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 24th. The conglomerate reported $2.59 EPS for the quarter, beating the consensus estimate of $2.58 by $0.01. 3M had a return on equity of 51.31% and a net margin of 13.44%. The firm had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.36 billion. During the same quarter in the prior year, the firm posted $2.58 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. analysts expect that 3M Co will post 10.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Friday, August 24th were paid a $1.36 dividend. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $5.44 annualized dividend and a dividend yield of 2.63%. 3M’s dividend payout ratio is currently 59.32%.

3M Company Profile

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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