Madison Investment Holdings Inc. lessened its holdings in 3M Company (NYSE:MMM) by 17.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 102,593 shares of the conglomerate’s stock after selling 21,184 shares during the quarter. Madison Investment Holdings Inc.’s holdings in 3M were worth $21,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Karp Capital Management Corp lifted its position in 3M by 16,353.8% during the first quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock worth $94,947,000 after buying an additional 493,230 shares in the last quarter. Capital Research Global Investors bought a new position in 3M during the second quarter worth about $89,237,000. State of Tennessee Treasury Department increased its position in 3M by 92.6% during the first quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock worth $87,828,000 after acquiring an additional 220,741 shares during the period. First Eagle Investment Management LLC increased 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 period. Finally, Coho Partners Ltd. increased its position in 3M by 26.8% during the second quarter. Coho Partners Ltd. now owns 687,532 shares of the conglomerate’s stock worth $143,137,000 after acquiring an additional 145,318 shares during the period. Institutional investors and hedge funds own 66.33% of the company’s stock.

3M Company (NYSE MMM) traded down $2.17 on Monday, hitting $238.13. 1,999,800 shares of the stock were exchanged, compared to its average volume of 1,839,122. 3M Company has a one year low of $173.55 and a one year high of $244.23. The company has a current ratio of 2.07, a quick ratio of 1.47 and a debt-to-equity ratio of 0.89. The firm has a market cap of $141,832.17, a P/E ratio of 26.61, a P/E/G ratio of 2.58 and a beta of 1.10.

3M (NYSE:MMM) last posted its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $2.15 EPS. equities analysts predict that 3M Company will post 9.09 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th will be paid a $0.0118 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.05 annualized dividend and a dividend yield of 0.02%. 3M’s payout ratio is 52.51%.

A number of equities analysts recently commented on the stock. Jefferies Group reaffirmed a “buy” rating and set a $234.00 price target on shares of 3M in a research report on Wednesday, August 16th. Stifel Nicolaus raised their target price on shares of 3M from $220.00 to $244.00 and gave the company a “hold” rating in a report on Wednesday, October 25th. Morgan Stanley raised their target price on shares of 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a report on Monday, October 2nd. Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $248.00 target price on the stock in a report on Wednesday, October 25th. Finally, Goldman Sachs Group reissued a “sell” rating on shares of 3M in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company’s stock. 3M currently has an average rating of “Hold” and an average target price of $231.16.

In other news, VP Khandpur K. Ashish sold 4,004 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $231.39, for a total value of $926,485.56. Following the completion of the sale, the vice president now owns 5,236 shares in the company, valued at approximately $1,211,558.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Frank R. Jr. Little sold 1,500 shares of the company’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $234.47, for a total transaction of $351,705.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,804 shares of company stock valued at $5,303,706. Company insiders own 0.58% of the company’s stock.

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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.

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

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