GHP Investment Advisors Inc. raised its stake in 3M Co (NYSE:MMM) by 19.9% during the second quarter, HoldingsChannel reports. The institutional investor owned 5,003 shares of the conglomerate’s stock after buying an additional 829 shares during the period. GHP Investment Advisors Inc.’s holdings in 3M were worth $984,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Rainier Group Investment Advisory LLC acquired a new position in shares of 3M during the first quarter worth $114,000. Quattro Financial Advisors LLC acquired a new position in shares of 3M during the first quarter worth $119,000. Stelac Advisory Services LLC acquired a new position in shares of 3M during the first quarter worth $125,000. Avestar Capital LLC lifted its holdings in shares of 3M by 161.2% during the second quarter. Avestar Capital LLC now owns 700 shares of the conglomerate’s stock worth $130,000 after purchasing an additional 432 shares during the period. Finally, Braun Bostich & Associates Inc. lifted its holdings in shares of 3M by 221.7% during the second 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 period. Hedge funds and other institutional investors own 66.93% of the company’s stock.

In related news, insider Eric D. Hammes sold 1,272 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $216.00, for a total value of $274,752.00. Following the transaction, the insider now owns 5,634 shares in the company, valued at $1,216,944. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jon T. Lindekugel sold 6,410 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $203.01, for a total transaction of $1,301,294.10. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

MMM stock opened at $211.07 on Thursday. The firm has a market capitalization of $125.25 billion, a P/E ratio of 23.02, a PEG ratio of 2.04 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08. 3M Co has a 12-month low of $190.57 and a 12-month high of $259.77.

3M (NYSE:MMM) last released its earnings results on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.01. The business had revenue of $8.39 billion for the quarter, compared to analyst estimates of $8.36 billion. 3M had a net margin of 13.44% and a return on equity of 51.31%. 3M’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.58 earnings per share. equities analysts anticipate that 3M Co will post 10.28 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Investors of record on Friday, August 24th were issued a $1.36 dividend. The ex-dividend date was Thursday, August 23rd. This represents a $5.44 annualized dividend and a yield of 2.58%. 3M’s payout ratio is 59.32%.

A number of equities analysts have recently commented on MMM shares. Citigroup set a $263.00 price target on shares of 3M and gave the stock a “buy” rating in a report on Saturday, June 9th. Royal Bank of Canada reiterated a “buy” rating and set a $234.00 price target on shares of 3M in a report on Wednesday, July 25th. Morgan Stanley started coverage on shares of 3M in a report on Monday, August 20th. They set an “equal weight” rating and a $212.00 price target on the stock. ValuEngine upgraded shares of 3M from a “sell” rating to a “hold” rating in a report on Saturday, July 14th. Finally, Deutsche Bank reiterated a “hold” rating and set a $208.00 price target on shares of 3M in a report on Thursday, July 12th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $234.97.

3M 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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