Trustmark National Bank Trust Department Has $1.59 Million Holdings in 3M Company (MMM)
Trustmark National Bank Trust Department lessened its holdings in shares of 3M Company (NYSE:MMM) by 5.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 7,585 shares of the conglomerate’s stock after selling 466 shares during the period. Trustmark National Bank Trust Department’s holdings in 3M were worth $1,591,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MMM. Karp Capital Management Corp grew its holdings in 3M by 16,353.8% during the 1st quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock worth $94,947,000 after acquiring an additional 493,230 shares during the period. Swiss National Bank grew its holdings in 3M by 26.6% during the 1st quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock worth $407,782,000 after acquiring an additional 447,900 shares during the period. Capital Research Global Investors acquired a new stake in 3M during the 2nd quarter worth $89,237,000. State of Tennessee Treasury Department boosted its position in shares of 3M by 92.6% during the first quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock worth $87,828,000 after purchasing an additional 220,741 shares in the last quarter. Finally, First Eagle Investment Management LLC boosted its position in shares of 3M by 3.9% during the first quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock worth $844,511,000 after purchasing an additional 167,491 shares in the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.
3M Company (NYSE:MMM) traded down $0.20 on Friday, reaching $231.38. 659,116 shares of the company traded hands, compared to its average volume of 1,565,779. The company has a market cap of $137,930.94, a PE ratio of 25.88, a P/E/G ratio of 2.51 and a beta of 1.08. 3M Company has a 1-year low of $171.09 and a 1-year high of $238.90. The company has a quick ratio of 1.47, a current ratio of 2.07 and a debt-to-equity ratio of 0.89.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion for the quarter, compared to analysts’ expectations of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 EPS. equities research analysts predict that 3M Company will post 9.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be given a $0.0118 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio is currently 52.51%.
In related news, insider Jon T. Lindekugel sold 400 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Inge G. Thulin sold 6,823 shares of the business’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $233.14, for a total transaction of $1,590,714.22. Following the completion of the sale, the chairman now directly owns 196,906 shares in the company, valued at $45,906,664.84. The disclosure for this sale can be found here. Insiders sold a total of 22,804 shares of company stock worth $5,303,706 over the last ninety days. 0.58% of the stock is currently owned by insiders.
A number of brokerages have recently weighed in on MMM. Royal Bank Of Canada reissued a “hold” rating and set a $209.00 price target on shares of 3M in a research report on Friday, September 15th. Jefferies Group LLC lifted their price target on shares of 3M to $262.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. J P Morgan Chase & Co cut shares of 3M from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $185.00 to $201.00 in a research report on Wednesday, September 20th. Stifel Nicolaus lifted their price target on shares of 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research report on Wednesday, October 25th. Finally, Morgan Stanley lifted their price target on shares of 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a research report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $231.16.
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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