LaFleur & Godfrey LLC lessened its holdings in 3M Company (NYSE:MMM) by 7.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,305 shares of the conglomerate’s stock after selling 1,700 shares during the quarter. LaFleur & Godfrey LLC’s holdings in 3M were worth $4,262,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. lifted its position in 3M by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock valued at $137,000 after purchasing an additional 4 shares during the period. Baker Ellis Asset Management LLC lifted its position in 3M by 0.3% during the second quarter. Baker Ellis Asset Management LLC now owns 5,487 shares of the conglomerate’s stock valued at $1,142,000 after purchasing an additional 19 shares during the period. Kopp Investment Advisors LLC raised its position in 3M by 0.4% in the second quarter. Kopp Investment Advisors LLC now owns 5,281 shares of the conglomerate’s stock worth $1,099,000 after acquiring an additional 20 shares during the period. Main Street Research LLC raised its position in 3M by 1.1% in the first quarter. Main Street Research LLC now owns 1,984 shares of the conglomerate’s stock worth $380,000 after acquiring an additional 22 shares during the period. Finally, Osborne Partners Capital Management LLC raised its position in 3M by 1.0% in the second quarter. Osborne Partners Capital Management LLC now owns 2,272 shares of the conglomerate’s stock worth $473,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 66.26% of the company’s stock.
In other 3M news, CAO Ippocratis Vrohidis sold 1,725 shares of 3M stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $230.34, for a total transaction of $397,336.50. Following the completion of the sale, the chief accounting officer now directly owns 898 shares in the company, valued at approximately $206,845.32. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Khandpur K. Ashish sold 4,004 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total transaction of $926,485.56. Following the completion of the transaction, the vice president now owns 5,236 shares of the company’s stock, valued at $1,211,558.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,951 shares of company stock worth $6,159,012. 0.58% of the stock is owned by insiders.
3M Company (MMM) traded up $0.77 during midday trading on Tuesday, reaching $228.22. 1,765,300 shares of the company’s stock were exchanged, compared to its average volume of 1,841,098. 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 Company has a 1-year low of $170.72 and a 1-year high of $238.90. The stock has a market cap of $136,600.00, a P/E ratio of 25.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.08.
3M (NYSE:MMM) last issued its quarterly earnings data on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the previous year, the firm earned $2.15 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. equities research analysts expect that 3M Company will post 9.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th will be given a dividend of $0.0118 per share. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s dividend payout ratio is presently 52.46%.
Several research analysts have weighed in on MMM shares. Stifel Nicolaus reiterated a “hold” rating and issued a $202.00 price target on shares of 3M in a research report on Wednesday, July 19th. BidaskClub cut shares of 3M from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. William Blair reissued an “outperform” rating on shares of 3M in a research note on Wednesday, July 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $209.00 price objective (down from $210.00) on shares of 3M in a research note on Wednesday, July 26th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $190.00 target price (down from $191.00) on shares of 3M in a research note on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $231.16.
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3M Company Profile
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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