Vaughan David Investments Inc. IL Has $28.74 Million Position in 3M Company (MMM)
Vaughan David Investments Inc. IL decreased its stake in shares of 3M Company (NYSE:MMM) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,922 shares of the conglomerate’s stock after selling 1,735 shares during the quarter. 3M comprises 1.4% of Vaughan David Investments Inc. IL’s holdings, making the stock its 18th largest position. Vaughan David Investments Inc. IL’s holdings in 3M were worth $28,740,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in MMM. MPS Loria Financial Planners LLC purchased a new stake in 3M in the second quarter valued at $124,000. Hoertkorn Richard Charles purchased a new stake in 3M in the third quarter valued at $126,000. Proficio Capital Partners LLC raised its position in 3M by 156.0% in the first quarter. Proficio Capital Partners LLC now owns 663 shares of the conglomerate’s stock valued at $131,000 after purchasing an additional 404 shares during the period. Harfst & Associates Inc. raised its position in 3M by 17.0% in the second quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock valued at $143,000 after purchasing an additional 100 shares during the period. Finally, Mascoma Wealth Management LLC raised its position in 3M by 87.5% in the third quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after purchasing an additional 350 shares during the period. Hedge funds and other institutional investors own 66.26% of the company’s stock.
3M Company (NYSE:MMM) traded down $0.14 on Friday, reaching $229.28. The company had a trading volume of 721,459 shares, compared to its average volume of 1,834,823. 3M Company has a 1 year low of $170.72 and a 1 year high of $238.90. The firm has a market cap of $136,580.00, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.46 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47.
3M (NYSE:MMM) last released its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.12. 3M had a return on equity of 48.55% and a net margin of 17.71%. The firm had revenue of $8.17 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the firm posted $2.15 EPS. 3M’s revenue for the quarter was up 6.0% on a year-over-year basis. equities research analysts anticipate that 3M Company will post 9.08 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Friday, November 24th will be paid a dividend of $0.0118 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a yield of 0.02%. 3M’s payout ratio is 52.46%.
MMM has been the topic of a number of research analyst reports. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Bank of America Corporation reaffirmed a “buy” rating and issued a $227.00 price objective on shares of 3M in a research note on Thursday, September 14th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $237.00 price objective (up from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Citigroup Inc. lifted their price objective on 3M from $250.00 to $262.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Finally, The Goldman Sachs Group, Inc. raised 3M from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $194.00 to $229.00 in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $231.16.
In other news, VP Ivan K. Fong sold 2,348 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $233.12, for a total transaction of $547,365.76. Following the completion of the transaction, the vice president now directly owns 24,479 shares of the company’s stock, valued at approximately $5,706,544.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Frank R. Jr. Little sold 1,500 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $234.47, for a total value of $351,705.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,804 shares of company stock valued at $5,303,706. Insiders own 0.58% of the company’s stock.
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, , 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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