NS Partners Ltd Purchases Shares of 72,027 3M Company (MMM)
NS Partners Ltd purchased a new position in shares of 3M Company (NYSE:MMM) during the first quarter, Holdings Channel reports. The institutional investor purchased 72,027 shares of the conglomerate’s stock, valued at approximately $13,781,000. 3M comprises approximately 2.0% of NS Partners Ltd’s investment portfolio, making the stock its 10th largest position.
Several other large investors also recently bought and sold shares of the stock. Cable Hill Partners LLC increased its stake in 3M by 2.4% in the first quarter. Cable Hill Partners LLC now owns 635 shares of the conglomerate’s stock worth $122,000 after buying an additional 15 shares during the last quarter. Reilly Financial Advisors LLC increased its stake in 3M by 3.9% in the first quarter. Reilly Financial Advisors LLC now owns 642 shares of the conglomerate’s stock worth $123,000 after buying an additional 24 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in 3M by 0.6% in the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after buying an additional 4 shares during the last quarter. American Research & Management Co. increased its stake in 3M by 8.1% in the first quarter. American Research & Management Co. now owns 935 shares of the conglomerate’s stock worth $179,000 after buying an additional 70 shares during the last quarter. Finally, American National Bank increased its stake in 3M by 23.2% in the first quarter. American National Bank now owns 965 shares of the conglomerate’s stock worth $185,000 after buying an additional 182 shares during the last quarter. Institutional investors own 65.80% of the company’s stock.
3M Company (MMM) traded up 0.0222% during mid-day trading on Friday, hitting $206.2758. 414,461 shares of the stock traded hands. 3M Company has a 1-year low of $163.85 and a 1-year high of $214.57. The company has a 50-day moving average of $208.12 and a 200 day moving average of $196.24. The firm has a market capitalization of $123.10 billion, a P/E ratio of 23.5287 and a beta of 1.08.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by $0.01. The firm had revenue of $7.81 billion during the quarter, compared to the consensus estimate of $7.86 billion. 3M had a return on equity of 47.83% and a net margin of 17.65%. 3M’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $2.08 EPS. On average, equities research analysts anticipate that 3M Company will post $8.94 EPS for the current year.
A number of equities research analysts have recently weighed in on MMM shares. Bank of America Corporation restated a “buy” rating and issued a $225.00 price target (up from $208.00) on shares of 3M in a research note on Tuesday, June 6th. Citigroup Inc. restated a “buy” rating and issued a $229.00 price target (up from $220.00) on shares of 3M in a research note on Saturday, June 3rd. Jefferies Group LLC restated a “buy” rating and issued a $234.00 price target on shares of 3M in a research note on Thursday, June 1st. Zacks Investment Research upgraded shares of 3M from a “hold” rating to a “buy” rating and set a $223.00 price target on the stock in a research note on Friday, May 26th. Finally, Barclays PLC restated a “buy” rating on shares of 3M in a research note on Thursday, April 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $203.40.
In other news, VP Marlene Mary Mcgrath sold 14,766 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $194.88, for a total transaction of $2,877,598.08. Following the completion of the transaction, the vice president now directly owns 24,480 shares in the company, valued at $4,770,662.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is owned by company insiders.
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, electronics, 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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