Ramsay Stattman Vela & Price Inc. reduced its position in 3M Company (NYSE:MMM) by 4.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 39,159 shares of the conglomerate’s stock after selling 1,676 shares during the period. 3M comprises 3.6% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 4th largest position. Ramsay Stattman Vela & Price Inc.’s holdings in 3M were worth $8,153,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MMM. Bank of New York Mellon Corp lifted its position in 3M by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock worth $1,309,651,000 after acquiring an additional 300,345 shares during the last quarter. First Eagle Investment Management LLC lifted its position in 3M by 3.9% during the first quarter. First Eagle Investment Management LLC now owns 4,413,897 shares of the conglomerate’s stock worth $844,511,000 after acquiring an additional 167,491 shares during the last quarter. Ameriprise Financial Inc. lifted its position in 3M by 0.3% during the first quarter. Ameriprise Financial Inc. now owns 3,275,913 shares of the conglomerate’s stock worth $626,792,000 after acquiring an additional 8,239 shares during the last quarter. American Century Companies Inc. lifted its position in 3M by 37.1% during the first quarter. American Century Companies Inc. now owns 3,148,266 shares of the conglomerate’s stock worth $602,358,000 after acquiring an additional 852,262 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in 3M by 3.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 2,796,201 shares of the conglomerate’s stock worth $534,998,000 after acquiring an additional 92,789 shares during the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.

In other 3M news, insider Frank R. Jr. Little sold 2,719 shares of 3M stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $206.03, for a total value of $560,195.57. Following the completion of the transaction, the insider now directly owns 9,010 shares of the company’s stock, valued at $1,856,330.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul A. Keel sold 4,965 shares of 3M stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $206.16, for a total transaction of $1,023,584.40. Following the completion of the sale, the insider now owns 5,503 shares of the company’s stock, valued at $1,134,498.48. The disclosure for this sale can be found here. Insiders sold 9,112 shares of company stock valued at $1,878,890 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Several equities research analysts have issued reports on MMM shares. Zacks Investment Research downgraded shares of 3M from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $219.00 price target on shares of 3M in a research report on Friday, May 26th. Citigroup Inc. reiterated a “buy” rating and issued a $229.00 price target (up from $220.00) on shares of 3M in a research report on Saturday, June 3rd. Bank of America Corporation reiterated a “buy” rating and issued a $225.00 price target (up from $208.00) on shares of 3M in a research report on Tuesday, June 6th. Finally, Morgan Stanley lifted their price target on shares of 3M from $178.00 to $193.00 and gave the company an “underweight” rating in a research report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. 3M currently has an average rating of “Hold” and an average target price of $206.85.

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Shares of 3M Company (NYSE:MMM) opened at 211.68 on Friday. The stock’s 50 day moving average is $205.02 and its 200 day moving average is $200.70. The company has a market capitalization of $126.32 billion, a P/E ratio of 24.15 and a beta of 1.08. 3M Company has a 52-week low of $163.85 and a 52-week high of $214.57.

3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.01). 3M had a net margin of 17.65% and a return on equity of 47.83%. The business had revenue of $7.81 billion for the quarter, compared to analysts’ expectations of $7.86 billion. During the same period last year, the business earned $2.08 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Equities analysts expect that 3M Company will post $8.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Friday, August 25th were issued a $1.175 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $4.70 annualized dividend and a yield of 2.22%. 3M’s dividend payout ratio (DPR) is presently 53.59%.

3M Company Profile

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.

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

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