3M Company (MMM) Position Held by Gerber Kawasaki Wealth & Investment Management
Gerber Kawasaki Wealth & Investment Management maintained its stake in shares of 3M Company (NYSE:MMM) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,813 shares of the conglomerate’s stock at the end of the first quarter. Gerber Kawasaki Wealth & Investment Management’s holdings in 3M were worth $535,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in MMM. Ameriprise Financial Inc. raised its stake in shares of 3M by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock valued at $626,792,000 after buying an additional 8,239 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of 3M by 28.3% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 44,225 shares of the conglomerate’s stock valued at $8,462,000 after buying an additional 9,746 shares in the last quarter. Walter & Keenan Financial Consulting Co. MI ADV raised its stake in shares of 3M by 10.9% in the first quarter. Walter & Keenan Financial Consulting Co. MI ADV now owns 17,325 shares of the conglomerate’s stock valued at $3,315,000 after buying an additional 1,706 shares in the last quarter. Neuburgh Advisers LLC raised its stake in shares of 3M by 24.7% in the first quarter. Neuburgh Advisers LLC now owns 6,996 shares of the conglomerate’s stock valued at $1,339,000 after buying an additional 1,386 shares in the last quarter. Finally, Wade G W & Inc. raised its stake in shares of 3M by 40.0% in the first quarter. Wade G W & Inc. now owns 64,805 shares of the conglomerate’s stock valued at $12,399,000 after buying an additional 18,507 shares in the last quarter. Hedge funds and other institutional investors own 66.29% of the company’s stock.
Shares of 3M Company (NYSE MMM) traded down 0.02% on Wednesday, hitting $202.87. The company had a trading volume of 359,174 shares. The firm has a 50 day moving average of $206.57 and a 200-day moving average of $198.51. The firm has a market capitalization of $121.07 billion, a P/E ratio of 23.14 and a beta of 1.08. 3M Company has a 12-month low of $163.85 and a 12-month high of $214.57.
3M (NYSE:MMM) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. 3M had a return on equity of 47.83% and a net margin of 17.65%. The business had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. 3M’s quarterly revenue was up 1.9% on a year-over-year basis. On average, equities analysts predict that 3M Company will post $8.94 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th will be paid a $1.175 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $4.70 dividend on an annualized basis and a dividend yield of 2.32%. 3M’s payout ratio is presently 53.59%.
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Several equities research analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “buy” rating and set a $234.00 price target on shares of 3M in a report on Wednesday, August 16th. Stifel Nicolaus reiterated a “hold” rating and set a $210.00 price target on shares of 3M in a report on Friday, July 28th. Zacks Investment Research lowered 3M from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Royal Bank Of Canada reiterated a “sector perform” rating and set a $209.00 price target (down from $210.00) on shares of 3M in a report on Wednesday, July 26th. Finally, William Blair reiterated an “outperform” rating on shares of 3M in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. 3M has an average rating of “Hold” and an average target price of $206.68.
In other news, insider Paul A. Keel sold 4,965 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $206.16, for a total value of $1,023,584.40. Following the transaction, the insider now owns 5,503 shares in the company, valued at approximately $1,134,498.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frank R. Jr. Little sold 2,719 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $206.03, for a total value of $560,195.57. Following the completion of the transaction, the insider now owns 9,010 shares in the company, valued at approximately $1,856,330.30. The disclosure for this sale can be found here. Insiders sold a total of 9,112 shares of company stock worth $1,878,890 in the last 90 days. Company insiders own 0.58% of the company’s stock.
3M Company Profile
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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