HPM Partners LLC Has $5.17 Million Holdings in 3M Co (MMM)
HPM Partners LLC lowered its position in shares of 3M Co (NYSE:MMM) by 1.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,292 shares of the conglomerate’s stock after selling 284 shares during the quarter. HPM Partners LLC’s holdings in 3M were worth $5,172,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Federated Investors Inc. PA lifted its holdings in shares of 3M by 23.2% in the first quarter. Federated Investors Inc. PA now owns 14,447 shares of the conglomerate’s stock worth $3,172,000 after buying an additional 2,721 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of 3M by 2.9% in the first quarter. Gamco Investors INC. ET AL now owns 10,543 shares of the conglomerate’s stock worth $2,314,000 after buying an additional 301 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 3M by 1.2% in the first quarter. Franklin Resources Inc. now owns 1,077,052 shares of the conglomerate’s stock worth $236,435,000 after buying an additional 12,920 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of 3M by 97.5% in the first quarter. Evergreen Capital Management LLC now owns 6,680 shares of the conglomerate’s stock worth $1,466,000 after buying an additional 3,298 shares in the last quarter. Finally, Norinchukin Bank The lifted its holdings in shares of 3M by 15.1% in the first quarter. Norinchukin Bank The now owns 395,894 shares of the conglomerate’s stock worth $86,907,000 after buying an additional 51,866 shares in the last quarter. 66.93% of the stock is currently owned by institutional investors and hedge funds.
3M stock opened at $216.33 on Monday. The firm has a market cap of $126.90 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 2.07 and a beta of 1.16. The company has a current ratio of 1.56, a quick ratio of 1.08 and a debt-to-equity ratio of 1.08. 3M Co has a 52-week low of $190.57 and a 52-week high of $259.77.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 24th were given a dividend of $1.36 per share. This represents a $5.44 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Thursday, August 23rd. 3M’s dividend payout ratio (DPR) is 59.32%.
In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $203.01, for a total transaction of $1,301,294.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eric D. Hammes sold 1,272 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $216.00, for a total transaction of $274,752.00. Following the transaction, the insider now owns 5,634 shares in the company, valued at approximately $1,216,944. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
MMM has been the topic of several research analyst reports. Morgan Stanley initiated coverage on shares of 3M in a report on Monday, August 20th. They issued an “equal weight” rating and a $212.00 target price on the stock. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating in a report on Monday, September 3rd. UBS Group boosted their target price on shares of 3M from $215.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, August 30th. Royal Bank of Canada reaffirmed a “buy” rating and set a $234.00 price target on shares of 3M in a research note on Wednesday, July 25th. Finally, Citigroup set a $263.00 price target on shares of 3M and gave the company a “buy” rating in a research note on Saturday, June 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $234.97.
3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.
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