3M Company (MMM) Stake Maintained by Barr E S & Co.
Barr E S & Co. held its position in shares of 3M Company (NYSE:MMM) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,550 shares of the conglomerate’s stock at the close of the second quarter. Barr E S & Co.’s holdings in 3M were worth $323,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC grew its position in shares of 3M by 156.0% during the 1st quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after buying an additional 404 shares during the last quarter. Jackson Grant Investment Advisers Inc. lifted its holdings in 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after acquiring an additional 4 shares during the last quarter. Harfst & Associates Inc. lifted its holdings in 3M by 17.0% in the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock worth $143,000 after acquiring an additional 100 shares during the last quarter. One Capital Management LLC bought a new position in 3M in the first quarter worth about $202,000. Finally, FDO Partners LLC bought a new position in 3M in the first quarter worth about $203,000. 66.20% of the stock is owned by institutional investors and hedge funds.
MMM has been the subject of several recent research reports. Bank of America Corporation reaffirmed a “buy” rating and set a $227.00 target price on shares of 3M in a report on Thursday, September 14th. Morgan Stanley reissued an “underweight” rating and issued a $191.00 price target (down previously from $193.00) on shares of 3M in a report on Monday, July 10th. J P Morgan Chase & Co lowered 3M from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $185.00 to $201.00 in a research report on Wednesday, September 20th. BidaskClub lowered 3M from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Citigroup Inc. lowered their price objective on 3M from $230.00 to $228.00 and set a “buy” rating for the company in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. 3M presently has a consensus rating of “Hold” and an average price target of $208.27.
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In other 3M news, insider Paul A. Keel sold 4,965 shares of 3M stock in a transaction 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 completion of 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 filing with the SEC, which is available at the SEC website. Also, VP Eric D. Hammes sold 1,428 shares of 3M stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the completion of the transaction, the vice president now owns 3,066 shares of the company’s stock, valued at approximately $633,619.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,112 shares of company stock worth $1,878,890. 0.58% of the stock is owned by corporate insiders.
3M Company (NYSE MMM) opened at 212.76 on Tuesday. 3M Company has a 12 month low of $163.85 and a 12 month high of $214.65. The company has a 50-day moving average of $207.27 and a 200-day moving average of $202.75. The company has a market cap of $126.97 billion, a price-to-earnings ratio of 24.27 and a beta of 1.09.
3M (NYSE:MMM) last posted its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.01). The firm had revenue of $7.81 billion during the quarter, compared to the consensus estimate of $7.86 billion. 3M had a net margin of 17.65% and a return on equity of 47.83%. The business’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 EPS. Analysts predict that 3M Company will post $8.95 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were given a dividend of $1.175 per share. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.70 dividend on an annualized basis and a yield of 2.21%. 3M’s dividend payout ratio (DPR) is presently 53.59%.
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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