Capital International Investors Holds Position in 3M Company (MMM)

Capital International Investors maintained its position in 3M Company (NYSE:MMM) during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 686,600 shares of the conglomerate’s stock at the end of the second quarter. Capital International Investors owned 0.12% of 3M worth $142,943,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MMM. Capital Investment Counsel Inc grew its position in 3M by 7.0% in the 1st quarter. Capital Investment Counsel Inc now owns 2,889 shares of the conglomerate’s stock worth $553,000 after purchasing an additional 189 shares in the last quarter. Mycio Wealth Partners LLC increased its stake in 3M by 19.9% in the 1st quarter. Mycio Wealth Partners LLC now owns 6,764 shares of the conglomerate’s stock valued at $1,294,000 after buying an additional 1,122 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in 3M by 2.3% in the 1st quarter. Dubuque Bank & Trust Co. now owns 26,722 shares of the conglomerate’s stock valued at $5,113,000 after buying an additional 602 shares during the last quarter. Duncker Streett & Co. Inc. lifted its position in shares of 3M by 4.5% during the 1st quarter. Duncker Streett & Co. Inc. now owns 16,452 shares of the conglomerate’s stock worth $3,148,000 after buying an additional 706 shares in the last quarter. Finally, Adviser Investments LLC lifted its position in shares of 3M by 142.0% during the 1st quarter. Adviser Investments LLC now owns 8,256 shares of the conglomerate’s stock worth $1,580,000 after buying an additional 4,845 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Shares of 3M Company (NYSE MMM) traded up 0.426% during midday trading on Wednesday, reaching $215.485. The company had a trading volume of 279,705 shares. 3M Company has a 12-month low of $163.85 and a 12-month high of $216.06. The firm has a market capitalization of $128.59 billion, a price-to-earnings ratio of 24.579 and a beta of 1.09. The company has a 50 day moving average of $207.47 and a 200 day moving average of $202.91.

3M (NYSE:MMM) last released its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.59 by ($0.01). 3M had a return on equity of 47.83% and a net margin of 17.65%. The firm had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter last year, the business earned $2.08 earnings per share. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts anticipate that 3M Company will post $8.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Friday, August 25th were given a dividend of $1.175 per share. This represents a $4.70 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date was Wednesday, August 23rd. 3M’s dividend payout ratio (DPR) is presently 53.59%.

A number of equities analysts have recently weighed in on MMM shares. Bank of America Corporation restated a “buy” rating and issued a $225.00 target price (up previously from $208.00) on shares of 3M in a research note on Tuesday, June 6th. BidaskClub lowered 3M from a “strong-buy” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $237.00 price target for the company in a research report on Monday, June 19th. Citigroup Inc. decreased their price target on 3M from $230.00 to $228.00 and set a “buy” rating for the company in a research report on Wednesday, July 26th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $234.00 price target on shares of 3M in a report on Wednesday, August 16th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $208.27.

In other 3M news, insider Paul A. Keel sold 4,965 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $206.16, for a total value of $1,023,584.40. Following the transaction, the insider now directly owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Eric D. Hammes sold 1,428 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.66, for a total value of $295,110.48. Following the sale, the vice president now owns 3,066 shares of the company’s stock, valued at $633,619.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,112 shares of company stock valued at $1,878,890. 0.58% of the stock is owned by company insiders.

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About 3M

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.

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

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