3M Co. (MMM) Position Raised by Venturi Wealth Management LLC
Venturi Wealth Management LLC increased its stake in shares of 3M Co. (NYSE:MMM) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 5,940 shares of the company’s stock after buying an additional 20 shares during the period. Venturi Wealth Management LLC’s holdings in 3M were worth $1,040,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Founders Capital Management LLC boosted its stake in shares of 3M by 0.4% in the second quarter. Founders Capital Management LLC now owns 1,916 shares of the company’s stock valued at $336,000 after buying an additional 8 shares in the last quarter. Gilman Hill Asset Management LLC boosted its stake in shares of 3M by 0.3% in the second quarter. Gilman Hill Asset Management LLC now owns 2,440 shares of the company’s stock valued at $427,000 after buying an additional 8 shares in the last quarter. Elefante Mark B boosted its stake in shares of 3M by 0.5% in the second quarter. Elefante Mark B now owns 1,985 shares of the company’s stock valued at $348,000 after buying an additional 10 shares in the last quarter. Capital Management Corp VA boosted its stake in shares of 3M by 0.3% in the second quarter. Capital Management Corp VA now owns 3,889 shares of the company’s stock valued at $681,000 after buying an additional 12 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of 3M by 0.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,799 shares of the company’s stock valued at $315,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 65.67% of the company’s stock.
3M Co. (NYSE:MMM) traded down 0.40% during mid-day trading on Friday, reaching $170.96. The company’s stock had a trading volume of 695,561 shares. The firm’s 50 day moving average price is $177.64 and its 200 day moving average price is $173.10. 3M Co. has a 52 week low of $134.64 and a 52 week high of $182.27. The firm has a market capitalization of $103.33 billion, a P/E ratio of 21.82 and a beta of 0.99.
3M (NYSE:MMM) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.73 billion. 3M had a return on equity of 41.84% and a net margin of 16.29%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 EPS. On average, analysts anticipate that 3M Co. will post $8.21 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Wednesday, August 17th. 3M’s payout ratio is 56.63%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research report on Wednesday. Credit Suisse Group AG reaffirmed a “buy” rating and set a $195.00 price objective on shares of 3M in a research note on Friday, September 16th. Deutsche Bank AG reaffirmed a “hold” rating and set a $164.00 price objective on shares of 3M in a research note on Thursday, August 25th. Morgan Stanley reaffirmed a “sell” rating and set a $168.00 price objective on shares of 3M in a research note on Tuesday, August 23rd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of 3M in a research note on Thursday, August 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $167.11.
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 sale, the insider now directly owns 10,834 shares in the company, valued at approximately $1,933,002.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul A. Keel sold 3,180 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 $567,280.20. Following the sale, the insider now owns 9,961 shares in the company, valued at $1,776,942.79. The disclosure for this sale can be found here. 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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