Valeo Financial Advisors LLC Purchases Shares of 4,011 3M Company (MMM)
Valeo Financial Advisors LLC purchased a new position in shares of 3M Company (NYSE:MMM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,011 shares of the conglomerate’s stock, valued at approximately $842,000.
Other institutional investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC grew its holdings in shares of 3M by 3.9% in the 1st quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock worth $844,511,000 after acquiring an additional 167,491 shares during the period. Ameriprise Financial Inc. lifted its stake in 3M by 0.3% in the 1st quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock valued at $626,792,000 after buying an additional 8,239 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in 3M by 4.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock valued at $399,069,000 after buying an additional 89,307 shares in the last quarter. New York State Common Retirement Fund lifted its stake in 3M by 0.5% in the 3rd quarter. New York State Common Retirement Fund now owns 1,700,225 shares of the conglomerate’s stock valued at $356,877,000 after buying an additional 8,500 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of 3M by 0.9% during the 3rd quarter. Rhumbline Advisers now owns 1,124,531 shares of the conglomerate’s stock worth $236,039,000 after purchasing an additional 9,617 shares during the period. 66.33% of the stock is owned by institutional investors and hedge funds.
In other 3M news, insider Frank R. Jr. Little sold 1,500 shares of 3M stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $234.47, for a total transaction of $351,705.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Khandpur K. Ashish sold 4,004 shares of 3M stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total transaction of $926,485.56. Following the transaction, the vice president now owns 5,236 shares in the company, valued at $1,211,558.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,804 shares of company stock worth $5,303,706. 0.58% of the stock is currently owned by company insiders.
3M Company (NYSE MMM) traded down $2.17 on Monday, hitting $238.13. The stock had a trading volume of 1,999,800 shares, compared to its average volume of 1,839,122. 3M Company has a 52 week low of $173.55 and a 52 week high of $244.23. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. The company has a market capitalization of $141,832.17, a PE ratio of 26.61, a PEG ratio of 2.58 and a beta of 1.10.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, beating the Zacks’ consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $2.15 earnings per share. equities analysts forecast that 3M Company will post 9.09 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders 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 (DPR) is 52.51%.
A number of research analysts have weighed in on the company. Jefferies Group reissued a “buy” rating and set a $234.00 price target on shares of 3M in a research note on Wednesday, August 16th. Stifel Nicolaus increased their price target on 3M from $220.00 to $244.00 and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley increased their price target on 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a research note on Monday, October 2nd. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $248.00 price target on the stock in a research note on Wednesday, October 25th. Finally, Goldman Sachs Group reissued a “sell” rating on shares of 3M in a research note on Thursday, October 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average 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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