3M Company (MMM) Shares Sold by Madison Investment Holdings Inc.
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.
COPYRIGHT VIOLATION NOTICE: This news story was first published by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/12/11/3m-company-mmm-shares-sold-by-madison-investment-holdings-inc.html.
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.
Receive News & Ratings for 3M Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M Company and related companies with MarketBeat.com's FREE daily email newsletter.