Hikari Power Ltd Raises Holdings in 3M Co (MMM)
Hikari Power Ltd grew its position in 3M Co (NYSE:MMM) by 1.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 114,580 shares of the conglomerate’s stock after buying an additional 1,880 shares during the period. 3M makes up 3.2% of Hikari Power Ltd’s portfolio, making the stock its 4th largest position. Hikari Power Ltd’s holdings in 3M were worth $26,969,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Sawyer & Company Inc acquired a new position in shares of 3M in the 4th quarter valued at $138,000. MPS Loria Financial Planners LLC acquired a new position in shares of 3M in the 2nd quarter valued at $124,000. Hoertkorn Richard Charles acquired a new position in shares of 3M in the 3rd quarter valued at $126,000. Harfst & Associates Inc. grew its holdings in shares of 3M by 17.0% in the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after buying an additional 100 shares during the period. Finally, Mascoma Wealth Management LLC grew its holdings in shares of 3M by 87.5% in the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after buying an additional 350 shares during the period. 66.20% of the stock is owned by institutional investors.
In related news, insider Jon T. Lindekugel sold 400 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $230.06, for a total value of $92,024.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ivan K. Fong sold 2,348 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $233.12, for a total transaction of $547,365.76. Following the completion of the transaction, the vice president now directly owns 24,479 shares of the company’s stock, valued at $5,706,544.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,804 shares of company stock valued at $5,303,706. Company insiders own 0.58% of the company’s stock.
3M Co (NYSE MMM) opened at $242.31 on Friday. The firm has a market cap of $144,320.00, a price-to-earnings ratio of 27.04, a P/E/G ratio of 2.39 and a beta of 1.10. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. 3M Co has a one year low of $173.55 and a one year high of $244.23.
3M (NYSE:MMM) last announced its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. The firm had revenue of $8.17 billion during the quarter, compared to analyst estimates of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.15 EPS. analysts predict that 3M Co will post 9.09 earnings per share for the current year.
Several equities analysts have recently issued reports on the stock. Deutsche Bank boosted their price target on shares of 3M from $180.00 to $240.00 and gave the company a “hold” rating in a report on Wednesday. Zacks Investment Research lowered shares of 3M from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a report on Monday, October 2nd. Royal Bank of Canada boosted their price target on shares of 3M from $205.00 to $209.00 and gave the company a “sector perform” rating in a report on Wednesday, October 25th. Finally, Jefferies Group boosted their price target on shares of 3M to $262.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $232.15.
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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, , 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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