3M Co. (MMM) Position Maintained by Albion Financial Group UT
Albion Financial Group UT held its stake in shares of 3M Co. (NYSE:MMM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,862 shares of the company’s stock at the end of the second quarter. Albion Financial Group UT’s holdings in 3M were worth $1,027,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the company. CenturyLink Investment Management Co acquired a new stake in shares of 3M during the second quarter worth $116,000. Parasol Investment Management LLC increased its stake in shares of 3M by 12.6% in the second quarter. Parasol Investment Management LLC now owns 896 shares of the company’s stock worth $157,000 after buying an additional 100 shares during the last quarter. Clarius Group LLC acquired a new stake in shares of 3M during the first quarter worth $202,000. Independence Advisors LLC acquired a new stake in shares of 3M during the second quarter worth $203,000. Finally, 10 15 Associates Inc. acquired a new stake in shares of 3M during the first quarter worth $204,000. Institutional investors and hedge funds own 65.67% of the company’s stock.
Shares of 3M Co. (NYSE:MMM) traded up 0.02% on Wednesday, hitting $169.72. The company had a trading volume of 1,552,789 shares. The stock has a market capitalization of $102.58 billion, a PE ratio of 21.66 and a beta of 0.99. 3M Co. has a 52 week low of $134.64 and a 52 week high of $182.27. The firm’s 50 day moving average price is $176.91 and its 200-day moving average price is $173.30.
3M (NYSE:MMM) last released its quarterly earnings data on Tuesday, July 26th. The company reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.01. 3M had a return on equity of 41.84% and a net margin of 16.29%. The business earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same quarter last year, the business posted $2.02 EPS. The business’s revenue was down .3% on a year-over-year basis. Analysts forecast that 3M Co. will post $8.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 19th were issued a $1.11 dividend. This represents a $4.44 annualized dividend and a yield of 2.62%. The ex-dividend date was Wednesday, August 17th. 3M’s dividend payout ratio (DPR) is currently 56.63%.
Several research firms have recently commented on MMM. Jefferies Group boosted their price objective on 3M from $190.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 19th. Credit Suisse Group AG boosted their price objective on 3M from $186.00 to $195.00 and gave the company an “outperform” rating in a report on Wednesday, September 7th. Deutsche Bank AG restated a “hold” rating and set a $164.00 price objective on shares of 3M in a report on Thursday, August 25th. Morgan Stanley restated a “sell” rating and set a $168.00 price objective on shares of 3M in a report on Tuesday, August 23rd. Finally, Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Two 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. 3M has a consensus rating of “Hold” and a consensus target price of $167.11.
In other 3M 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 value of $1,617,555.72. Following the completion of the sale, the insider now owns 10,834 shares in the company, valued at approximately $1,933,002.28. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 completion of the sale, the insider now owns 9,961 shares of the company’s stock, valued at approximately $1,776,942.79. The disclosure for this sale can be found here. 0.58% of the stock is owned by company insiders.
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.
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co. (NYSE:MMM).
Receive News & Ratings for 3M Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Co. and related companies with MarketBeat.com's FREE daily email newsletter.