Stephens Inc. AR lifted its stake in shares of 3M Co (NYSE:MMM) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,692 shares of the conglomerate’s stock after purchasing an additional 2,509 shares during the quarter. Stephens Inc. AR’s holdings in 3M were worth $12,167,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Lenox Wealth Advisors Inc. boosted its holdings in 3M by 16,300.0% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after acquiring an additional 489 shares during the period. Horan Capital Management bought a new position in 3M during the 4th quarter valued at approximately $123,000. Sawyer & Company Inc bought a new position in 3M during the 4th quarter valued at approximately $138,000. Field & Main Bank bought a new position in 3M during the 4th quarter valued at approximately $140,000. Finally, Hoertkorn Richard Charles bought a new position in 3M during the 3rd quarter valued at approximately $126,000. Institutional investors and hedge funds own 66.89% of the company’s stock.
Shares of 3M Co (MMM) opened at $237.57 on Wednesday. 3M Co has a 1-year low of $188.62 and a 1-year high of $259.77. The company has a current ratio of 1.86, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The firm has a market cap of $142,800.91, a price-to-earnings ratio of 26.15, a PEG ratio of 2.23 and a beta of 1.10.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Friday, February 16th were issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.29%. This is a positive change from 3M’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, February 15th. 3M’s dividend payout ratio (DPR) is presently 68.69%.
MMM has been the topic of a number of research reports. Zacks Investment Research downgraded 3M from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barclays started coverage on 3M in a report on Thursday, February 15th. They issued an “underweight” rating and a $235.00 target price on the stock. Citigroup lifted their price target on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. UBS Group started coverage on 3M in a research report on Tuesday, January 23rd. They set a “neutral” rating and a $262.00 target price for the company. Finally, Vetr upgraded 3M from a “hold” rating to a “buy” rating and set a $250.06 target price for the company in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company’s stock. 3M presently has an average rating of “Hold” and an average target price of $254.02.
In related news, Chairman Inge G. Thulin sold 35,236 shares of 3M stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $251.14, for a total transaction of $8,849,169.04. Following the sale, the chairman now directly owns 253,873 shares in the company, valued at approximately $63,757,665.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Ippocratis Vrohidis sold 225 shares of 3M stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $249.68, for a total transaction of $56,178.00. The disclosure for this sale can be found here. Insiders sold a total of 52,806 shares of company stock worth $13,162,628 over the last 90 days. Company insiders own 0.58% of the company’s stock.
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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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