3M Co. (MMM) Position Held by Copeland Capital Management LLC
Copeland Capital Management LLC maintained its stake in 3M Co. (NYSE:MMM) during the second quarter, Holdings Channel reports. The institutional investor owned 1,500 shares of the company’s stock at the end of the second quarter. Copeland Capital Management LLC’s holdings in 3M were worth $263,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in MMM. Founders Capital Management LLC boosted its stake in 3M by 0.4% in the second quarter. Founders Capital Management LLC now owns 1,916 shares of the company’s stock worth $336,000 after buying an additional 8 shares during the period. Gilman Hill Asset Management LLC boosted its stake in 3M by 0.3% in the second quarter. Gilman Hill Asset Management LLC now owns 2,440 shares of the company’s stock worth $427,000 after buying an additional 8 shares during the period. Capital Management Corp VA boosted its stake in 3M by 0.3% in the second quarter. Capital Management Corp VA now owns 3,889 shares of the company’s stock worth $681,000 after buying an additional 12 shares during the period. Sequoia Financial Advisors LLC boosted its stake in 3M by 0.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,799 shares of the company’s stock worth $315,000 after buying an additional 14 shares during the period. Finally, 10 15 Associates Inc. boosted its stake in 3M by 1.1% in the second quarter. 10 15 Associates Inc. now owns 1,239 shares of the company’s stock worth $217,000 after buying an additional 14 shares during the period. Institutional investors own 65.66% of the company’s stock.
Shares of 3M Co. (NYSE:MMM) traded up 0.28% during mid-day trading on Thursday, reaching $180.10. The company’s stock had a trading volume of 1,450,084 shares. The company’s 50 day moving average price is $178.84 and its 200-day moving average price is $172.12. The company has a market capitalization of $108.85 billion, a price-to-earnings ratio of 22.99 and a beta of 1.07. 3M Co. has a 1-year low of $134.64 and a 1-year high of $182.27.
3M (NYSE:MMM) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.01. The firm earned $7.70 billion during the quarter, compared to the consensus estimate of $7.73 billion. 3M had a return on equity of 41.84% and a net margin of 16.29%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.02 EPS. Analysts predict that 3M Co. will post $8.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were paid a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Wednesday, August 17th. 3M’s dividend payout ratio is presently 56.63%.
A number of research firms have commented on MMM. Morgan Stanley reiterated a “sell” rating on shares of 3M in a research note on Friday, June 10th. Credit Suisse Group AG restated an “outperform” rating and issued a $186.00 price objective (up from $178.00) on shares of 3M in a research note on Thursday, July 28th. Jefferies Group restated a “buy” rating on shares of 3M in a research note on Thursday, August 4th. Sanford C. Bernstein restated a “market perform” rating on shares of 3M in a research note on Monday, June 27th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $164.00 price objective on shares of 3M in a research note on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $165.18.
In other news, insider James L. Bauman sold 9,066 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $178.42, for a total transaction of $1,617,555.72. Following the completion of the transaction, the insider now directly owns 10,834 shares of the company’s stock, valued at approximately $1,933,002.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Khandpur K. Ashish sold 1,679 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $178.39, for a total value of $299,516.81. Following the transaction, the vice president now directly owns 1,011 shares of the company’s stock, valued at $180,352.29. The disclosure for this sale can be found here. Company insiders own 0.58% of the company’s stock.
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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