BKS Advisors LLC Invests $215,000 in 3M Co (MMM)

BKS Advisors LLC purchased a new position in 3M Co (NYSE:MMM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,037 shares of the conglomerate’s stock, valued at approximately $215,000.

Several other large investors have also bought and sold shares of MMM. BlackRock Inc. raised its stake in 3M by 3.0% during the fourth quarter. BlackRock Inc. now owns 39,022,948 shares of the conglomerate’s stock worth $7,435,433,000 after purchasing an additional 1,152,714 shares during the period. Oregon Public Employees Retirement Fund raised its stake in 3M by 17,350.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,897,007 shares of the conglomerate’s stock worth $141,000 after purchasing an additional 26,742,875 shares during the period. Northern Trust Corp raised its stake in 3M by 2.4% during the fourth quarter. Northern Trust Corp now owns 8,011,899 shares of the conglomerate’s stock worth $1,526,587,000 after purchasing an additional 186,257 shares during the period. Geode Capital Management LLC raised its stake in 3M by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 7,416,248 shares of the conglomerate’s stock worth $1,410,584,000 after purchasing an additional 353,754 shares during the period. Finally, Norges Bank purchased a new position in 3M during the fourth quarter worth about $918,305,000. 67.11% of the stock is currently owned by hedge funds and other institutional investors.

3M stock opened at $169.09 on Friday. The company has a market capitalization of $99.04 billion, a PE ratio of 16.17, a P/E/G ratio of 1.79 and a beta of 0.99. 3M Co has a 1 year low of $168.43 and a 1 year high of $219.75. The company has a current ratio of 2.02, a quick ratio of 1.38 and a debt-to-equity ratio of 1.60.

3M (NYSE:MMM) last released its quarterly earnings results on Thursday, April 25th. The conglomerate reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.27). The company had revenue of $7.86 billion during the quarter, compared to analysts’ expectations of $8.02 billion. 3M had a net margin of 17.43% and a return on equity of 57.42%. 3M’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the firm posted $2.50 earnings per share. On average, research analysts forecast that 3M Co will post 9.45 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 24th will be issued a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date is Thursday, May 23rd. 3M’s dividend payout ratio (DPR) is currently 55.07%.

A number of equities analysts have commented on MMM shares. reaffirmed a “sell” rating on shares of 3M in a research note on Tuesday, February 12th. Argus downgraded shares of 3M from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Gordon Haskett downgraded shares of 3M from a “buy” rating to a “hold” rating and set a $191.98 price target on the stock. in a research note on Monday, April 29th. Citigroup set a $221.00 price target on shares of 3M and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Bank of America downgraded shares of 3M from a “buy” rating to a “neutral” rating in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and a consensus target price of $196.83.

In related news, Chairman Inge G. Thulin sold 5,863 shares of 3M stock in a transaction that occurred on Friday, March 29th. The shares were sold at an average price of $207.78, for a total value of $1,218,214.14. Following the completion of the transaction, the chairman now owns 268,188 shares in the company, valued at $55,724,102.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory R. Page acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was acquired at an average price of $176.26 per share, with a total value of $176,260.00. Following the acquisition, the director now directly owns 4,000 shares of the company’s stock, valued at approximately $705,040. The disclosure for this purchase can be found here. Insiders own 0.83% of the company’s stock.

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About 3M

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

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

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