Smith Chas P & Associates PA Cpas raised its position in 3M Company (NYSE:MMM) by 0.7% during the first quarter, Holdings Channel reports. The firm owned 1,952 shares of the conglomerate’s stock after buying an additional 13 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in 3M Company were worth $374,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Howard Capital Management raised its stake in 3M Company by 1.4% in the first quarter. Howard Capital Management now owns 6,577 shares of the conglomerate’s stock worth $1,258,000 after buying an additional 90 shares during the last quarter. Arvest Bank Trust Division raised its stake in 3M Company by 11.6% in the first quarter. Arvest Bank Trust Division now owns 2,340 shares of the conglomerate’s stock worth $448,000 after buying an additional 244 shares during the last quarter. Loeb Partners Corp raised its stake in 3M Company by 138.9% in the first quarter. Loeb Partners Corp now owns 8,600 shares of the conglomerate’s stock worth $1,646,000 after buying an additional 5,000 shares during the last quarter. Dodge & Cox purchased a new stake in 3M Company during the fourth quarter worth $3,917,000. Finally, Pekin Singer Strauss Asset Management IL raised its stake in 3M Company by 16.1% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,068 shares of the conglomerate’s stock worth $369,000 after buying an additional 287 shares during the last quarter. Institutional investors own 65.75% of the company’s stock.

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

Shares of 3M Company (NYSE MMM) opened at 213.24 on Friday. The firm has a 50-day moving average price of $201.26 and a 200-day moving average price of $187.83. The firm has a market cap of $127.36 billion, a P/E ratio of 25.79 and a beta of 1.10. 3M Company has a 12-month low of $163.85 and a 12-month high of $213.46.

3M Company (NYSE:MMM) last announced its quarterly earnings data on Tuesday, April 25th. The conglomerate reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.09. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.48 billion. 3M Company had a return on equity of 44.95% and a net margin of 16.78%. The company’s revenue was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.95 earnings per share. On average, equities research analysts expect that 3M Company will post $8.95 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Friday, May 19th were issued a $1.175 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $4.70 annualized dividend and a dividend yield of 2.20%. 3M Company’s dividend payout ratio (DPR) is 56.83%.

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MMM has been the topic of a number of recent research reports. Royal Bank Of Canada restated a “hold” rating and set a $187.00 target price on shares of 3M Company in a research note on Sunday, March 12th. Stifel Nicolaus increased their price target on shares of 3M Company from $190.00 to $202.00 and gave the company a “hold” rating in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of 3M Company from a “hold” rating to a “buy” rating and set a $213.00 price target on the stock in a research note on Wednesday, March 29th. Vetr lowered shares of 3M Company from a “sell” rating to a “strong sell” rating and set a $163.50 price target on the stock. in a research note on Wednesday, February 22nd. Finally, Credit Suisse Group reiterated a “buy” rating on shares of 3M Company in a research note on Thursday, April 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $199.93.

In other news, insider Jon T. Lindekugel sold 1,300 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $197.22, for a total transaction of $256,386.00. Following the sale, the insider now directly owns 2,238 shares of the company’s stock, valued at $441,378.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kimberly F. Price sold 3,016 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $198.11, for a total value of $597,499.76. Following the sale, the insider now directly owns 9,292 shares in the company, valued at $1,840,838.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,698 shares of company stock valued at $6,593,443. Insiders own 0.58% of the company’s stock.

About 3M Company

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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