Pioneer Trust Bank N A OR Has $427,000 Position in 3M Company (MMM)
Pioneer Trust Bank N A OR lessened its stake in shares of 3M Company (NYSE:MMM) by 10.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,051 shares of the conglomerate’s stock after selling 227 shares during the period. Pioneer Trust Bank N A OR’s holdings in 3M were worth $427,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MMM. Proficio Capital Partners LLC raised its holdings in 3M by 156.0% during the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock worth $131,000 after acquiring an additional 404 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its holdings in 3M by 0.6% during the first quarter. Jackson Grant Investment Advisers Inc. now owns 718 shares of the conglomerate’s stock worth $137,000 after acquiring an additional 4 shares in the last quarter. One Capital Management LLC bought a new stake in 3M during the first quarter worth about $202,000. FDO Partners LLC bought a new stake in 3M during the first quarter worth about $203,000. Finally, SRS Capital Advisors Inc. raised its holdings in 3M by 42.3% during the first quarter. SRS Capital Advisors Inc. now owns 1,069 shares of the conglomerate’s stock worth $204,000 after acquiring an additional 318 shares in the last quarter. Institutional investors and hedge funds own 66.31% of the company’s stock.
In other news, insider Frank R. Jr. Little sold 2,719 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $206.03, for a total value of $560,195.57. Following the transaction, the insider now owns 9,010 shares in the company, valued at approximately $1,856,330.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Paul A. Keel sold 4,965 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $206.16, for a total value of $1,023,584.40. Following the completion of the transaction, the insider now owns 5,503 shares in the company, valued at approximately $1,134,498.48. The disclosure for this sale can be found here. Insiders sold a total of 9,112 shares of company stock worth $1,878,890 in the last 90 days. Company insiders own 0.58% of the company’s stock.
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Shares of 3M Company (MMM) traded up 1.00% during trading on Friday, hitting $213.55. The stock had a trading volume of 2,089,845 shares. The company has a market capitalization of $127.44 billion, a price-to-earnings ratio of 24.36 and a beta of 1.08. 3M Company has a 52 week low of $163.85 and a 52 week high of $214.57. The company’s 50 day moving average price is $205.02 and its 200 day moving average price is $200.70.
3M (NYSE:MMM) last announced its earnings results on Tuesday, July 25th. The conglomerate reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.59 by ($0.01). 3M had a return on equity of 47.83% and a net margin of 17.65%. The business had revenue of $7.81 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. 3M’s quarterly revenue was up 1.9% on a year-over-year basis. Analysts predict that 3M Company will post $8.94 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Stockholders of record on Friday, August 25th were paid a $1.175 dividend. The ex-dividend date was Wednesday, August 23rd. This represents a $4.70 dividend on an annualized basis and a dividend yield of 2.22%. 3M’s payout ratio is presently 53.59%.
Several research firms recently issued reports on MMM. Bank of America Corporation reiterated a “buy” rating and set a $227.00 target price on shares of 3M in a report on Thursday. Jefferies Group LLC restated a “buy” rating and issued a $234.00 price objective on shares of 3M in a research note on Wednesday, August 16th. Stifel Nicolaus restated a “hold” rating and issued a $210.00 price objective on shares of 3M in a research note on Friday, July 28th. Zacks Investment Research lowered 3M from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Citigroup Inc. dropped their price objective on 3M from $230.00 to $228.00 and set a “buy” rating on the stock in a research note on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. 3M has an average rating of “Hold” and an average price target of $206.85.
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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