Tdam USA Inc. boosted its holdings in shares of 3M Co (NYSE:MMM) by 0.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,513 shares of the conglomerate’s stock after purchasing an additional 256 shares during the period. Tdam USA Inc.’s holdings in 3M were worth $9,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MMM. Creative Financial Designs Inc. ADV increased its holdings in 3M by 202.0% in the first quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock valued at $31,000 after buying an additional 101 shares in the last quarter. Cordasco Financial Network increased its stake in shares of 3M by 220.0% during the first quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock worth $33,000 after purchasing an additional 110 shares in the last quarter. Capital Financial Planning LLC purchased a new stake in shares of 3M during the fourth quarter worth about $34,000. Meridian Wealth Management LLC purchased a new stake in shares of 3M during the first quarter worth about $38,000. Finally, Lake Point Wealth Management purchased a new stake in shares of 3M during the fourth quarter worth about $37,000. Institutional investors own 67.55% of the company’s stock.

NYSE MMM traded up $2.78 during trading hours on Tuesday, hitting $164.88. 3,026,525 shares of the company’s stock traded hands, compared to its average volume of 3,128,843. 3M Co has a 52-week low of $158.04 and a 52-week high of $219.75. The company has a market cap of $94.04 billion, a P/E ratio of 15.76, a PEG ratio of 1.73 and a beta of 1.09. The company has a quick ratio of 1.34, a current ratio of 1.93 and a debt-to-equity ratio of 1.53. The company’s 50-day moving average is $171.61.

3M (NYSE:MMM) last posted its earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.16. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $8.10 billion. 3M had a net margin of 15.27% and a return on equity of 55.05%. 3M’s revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.59 EPS. On average, equities research analysts predict that 3M Co will post 9.29 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Friday, August 16th will be issued a $1.44 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.76 annualized dividend and a yield of 3.49%. 3M’s payout ratio is 55.07%.

In other 3M news, insider John Patrick Banovetz sold 1,040 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $170.40, for a total value of $177,216.00. Following the transaction, the insider now directly owns 5,974 shares in the company, valued at approximately $1,017,969.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David B. Dillon bought 1,200 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was purchased at an average price of $169.50 per share, for a total transaction of $203,400.00. Following the completion of the acquisition, the director now directly owns 1,200 shares in the company, valued at $203,400. The disclosure for this purchase can be found here. Insiders own 0.83% of the company’s stock.

A number of research firms have recently commented on MMM. JPMorgan Chase & Co. cut their target price on shares of 3M from $143.00 to $140.00 and set an “underweight” rating for the company in a research note on Tuesday, August 6th. Argus cut shares of 3M from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Credit Suisse Group upped their price objective on shares of 3M from $180.00 to $194.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. They noted that the move was a valuation call. Deutsche Bank dropped their price objective on shares of 3M from $188.00 to $183.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Finally, Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating and set a $183.00 price objective for the company in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $182.54.

3M Company Profile

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

Featured Article: Understanding the two types of arbitrage

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).

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

Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.