Garde Capital Inc. purchased a new stake in 3M Company (NYSE:MMM) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 4,560 shares of the conglomerate’s stock, valued at approximately $957,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baker Ellis Asset Management LLC lifted its stake in 3M by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 5,487 shares of the conglomerate’s stock valued at $1,142,000 after buying an additional 19 shares in the last quarter. Kopp Investment Advisors LLC lifted its stake in 3M by 0.4% during the second quarter. Kopp Investment Advisors LLC now owns 5,281 shares of the conglomerate’s stock valued at $1,099,000 after buying an additional 20 shares in the last quarter. Main Street Research LLC lifted its stake in 3M by 1.1% during the first quarter. Main Street Research LLC now owns 1,984 shares of the conglomerate’s stock valued at $380,000 after buying an additional 22 shares in the last quarter. Smith Moore & CO. lifted its stake in 3M by 0.3% during the first quarter. Smith Moore & CO. now owns 7,436 shares of the conglomerate’s stock valued at $1,423,000 after buying an additional 25 shares in the last quarter. Finally, Northstar Wealth Partners LLC lifted its stake in 3M by 0.4% during the second quarter. Northstar Wealth Partners LLC now owns 6,840 shares of the conglomerate’s stock valued at $1,439,000 after buying an additional 30 shares in the last quarter. 66.33% of the stock is owned by institutional investors.

In related news, insider Frank R. Jr. Little sold 1,500 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Ivan K. Fong sold 2,348 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.12, for a total value of $547,365.76. Following the completion of the transaction, the vice president now owns 24,479 shares in the company, valued at approximately $5,706,544.48. The disclosure for this sale can be found here. Insiders sold 22,804 shares of company stock worth $5,303,706 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

3M Company (MMM) traded up $2.53 during trading hours on Thursday, reaching $239.11. The company had a trading volume of 2,707,800 shares, compared to its average volume of 1,846,204. 3M Company has a 12-month low of $173.55 and a 12-month high of $244.23. The firm has a market capitalization of $140,908.98, a P/E ratio of 26.43, a P/E/G ratio of 2.57 and a beta of 1.10. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89.

3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company posted $2.15 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. equities analysts predict that 3M Company will post 9.07 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Friday, November 24th were issued a $0.0118 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.02%. 3M’s dividend payout ratio is currently 52.51%.

A number of analysts have commented on the stock. ValuEngine lowered shares of 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Citigroup increased their price target on shares of 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Goldman Sachs Group reissued a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Argus increased their price target on shares of 3M from $220.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. They noted that the move was a valuation call. Finally, Royal Bank of Canada increased their price target on shares of 3M from $205.00 to $209.00 and gave the stock a “sector perform” rating in a research report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $231.16.

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3M 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, , 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.

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

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