Norway Savings Bank Purchases 240 Shares of 3M (NYSE:MMM)


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Norway Savings Bank grew its position in shares of 3M (NYSE:MMM) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,439 shares of the conglomerate’s stock after acquiring an additional 240 shares during the period. Norway Savings Bank’s holdings in 3M were worth $776,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Hohimer Wealth Management LLC increased its position in shares of 3M by 0.7% during the fourth quarter. Hohimer Wealth Management LLC now owns 9,655 shares of the conglomerate’s stock valued at $1,688,000 after buying an additional 64 shares during the period. LVM Capital Management Ltd. MI increased its position in shares of 3M by 0.5% during the third quarter. LVM Capital Management Ltd. MI now owns 14,027 shares of the conglomerate’s stock valued at $2,247,000 after buying an additional 69 shares during the period. Strategic Wealth Management Group LLC increased its position in shares of 3M by 2.2% during the third quarter. Strategic Wealth Management Group LLC now owns 3,238 shares of the conglomerate’s stock valued at $519,000 after buying an additional 69 shares during the period. Larson Financial Group LLC increased its position in shares of 3M by 2.9% during the third quarter. Larson Financial Group LLC now owns 2,484 shares of the conglomerate’s stock valued at $398,000 after buying an additional 70 shares during the period. Finally, Lester Murray Antman dba SimplyRich increased its position in shares of 3M by 1.4% during the third quarter. Lester Murray Antman dba SimplyRich now owns 4,950 shares of the conglomerate’s stock valued at $793,000 after buying an additional 70 shares during the period. 61.08% of the stock is owned by hedge funds and other institutional investors.

Shares of MMM traded down $0.23 during mid-day trading on Wednesday, reaching $166.28. The stock had a trading volume of 1,935,648 shares, compared to its average volume of 3,377,029. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.90 and a quick ratio of 1.37. 3M has a 52-week low of $114.04 and a 52-week high of $182.54. The business’s fifty day moving average is $173.42 and its 200 day moving average is $165.40. The firm has a market cap of $95.91 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.13 and a beta of 0.93.

3M (NYSE:MMM) last issued its quarterly earnings results on Sunday, November 1st. The conglomerate reported $2.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.17. The business had revenue of $8.35 billion for the quarter, compared to analysts’ expectations of $8.38 billion. 3M had a net margin of 15.65% and a return on equity of 44.77%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. As a group, sell-side analysts anticipate that 3M will post 8.61 EPS for the current fiscal year.

Several equities analysts recently issued reports on the stock. TheStreet upgraded shares of 3M from a “c+” rating to a “b” rating in a research report on Tuesday, October 27th. Gordon Haskett upgraded shares of 3M from an “underperform” rating to a “hold” rating and set a $170.00 price target on the stock in a research report on Wednesday, October 7th. William Blair reissued a “market perform” rating on shares of 3M in a research note on Tuesday, October 27th. Zacks Investment Research cut shares of 3M from a “buy” rating to a “hold” rating and set a $182.00 price objective for the company. in a research note on Tuesday, December 15th. Finally, Morgan Stanley raised their target price on shares of 3M from $176.00 to $188.00 and gave the company an “equal weight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. 3M has a consensus rating of “Hold” and a consensus target price of $173.00.

In other news, EVP Jeffrey R. Lavers sold 6,219 shares of the company’s stock in a transaction on Tuesday, December 8th. The stock was sold at an average price of $172.09, for a total value of $1,070,227.71. Following the completion of the sale, the executive vice president now owns 10,643 shares in the company, valued at $1,831,553.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Khandpur K. Ashish sold 5,760 shares of the company’s stock in a transaction on Thursday, December 17th. The shares were sold at an average price of $176.44, for a total value of $1,016,294.40. Following the completion of the sale, the executive vice president now owns 21,719 shares of the company’s stock, valued at approximately $3,832,100.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,052 shares of company stock worth $4,688,423. Insiders own 0.42% of the company’s stock.

3M Company Profile

3M Company develops, manufactures, and markets various products worldwide. It operates through four business segments: Safety and Industrial, Transportation and Electronics, Health Care, and Consumer. The Safety and Industrial segment offers personal safety products, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules to industrial, electrical, and safety markets.

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

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