Greylin Investment Mangement Inc. Acquires Shares of 853 3M Co (MMM)
Greylin Investment Mangement Inc. acquired a new stake in 3M Co (NYSE:MMM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 853 shares of the conglomerate’s stock, valued at approximately $201,000.
Other institutional investors have also recently made changes to their positions in the company. Sawyer & Company Inc acquired a new stake in 3M in the fourth quarter valued at approximately $138,000. MPS Loria Financial Planners LLC acquired a new stake in 3M in the second quarter valued at approximately $124,000. Hoertkorn Richard Charles acquired a new stake in 3M in the third quarter valued at approximately $126,000. Harfst & Associates Inc. grew its stake in 3M by 17.0% in the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after acquiring an additional 100 shares during the period. Finally, Mascoma Wealth Management LLC grew its stake in 3M by 87.5% in the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after acquiring an additional 350 shares during the period. 66.23% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the company. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research note on Monday. Citigroup raised their price objective on 3M from $268.00 to $278.00 and gave the company a “buy” rating in a research note on Tuesday. ValuEngine cut 3M from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Deutsche Bank lifted their target price on 3M from $180.00 to $240.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, Goldman Sachs Group reaffirmed a “sell” rating on shares of 3M in a research report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $233.68.
Shares of 3M Co (NYSE:MMM) traded up $2.16 during trading on Tuesday, reaching $244.47. The company had a trading volume of 1,974,300 shares, compared to its average volume of 1,985,600. The company has a market capitalization of $146,080.00, a price-to-earnings ratio of 27.28, a P/E/G ratio of 2.43 and a beta of 1.10. 3M Co has a 1-year low of $173.55 and a 1-year high of $246.00. 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 issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. 3M’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $2.15 earnings per share. research analysts anticipate that 3M Co will post 9.1 EPS for the current fiscal year.
In other 3M news, CFO Nicholas C. Gangestad sold 4,004 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $233.84, for a total value of $936,295.36. Following the sale, the chief financial officer now directly owns 25,805 shares in the company, valued at $6,034,241.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Frank R. Jr. Little sold 1,500 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $234.47, for a total value of $351,705.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock worth $5,303,706 over the last quarter. 0.58% of the stock is currently owned by corporate insiders.
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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.
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