Keeler Thomas Management LLC Takes $4.24 Million Position in 3M Co (MMM)
Keeler Thomas Management LLC bought a new stake in 3M Co (NYSE:MMM) during the 4th quarter, HoldingsChannel.com reports. The firm bought 18,022 shares of the conglomerate’s stock, valued at approximately $4,241,000. 3M accounts for about 3.9% of Keeler Thomas Management LLC’s portfolio, making the stock its 5th largest holding.
Several other hedge funds also recently made changes to their positions in MMM. Lenox Wealth Advisors Inc. lifted its holdings in shares of 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock valued at $116,000 after buying an additional 489 shares during the period. Horan Capital Management acquired a new stake in shares of 3M in the 4th quarter valued at approximately $123,000. Sawyer & Company Inc acquired a new stake in shares of 3M in the 4th quarter valued at approximately $138,000. Field & Main Bank acquired a new stake in shares of 3M in the 4th quarter valued at approximately $140,000. Finally, Mascoma Wealth Management LLC lifted its holdings in shares of 3M by 87.5% in the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock valued at $157,000 after buying an additional 350 shares during the period. Institutional investors own 66.17% of the company’s stock.
Several analysts have recently commented on MMM shares. Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $258.00 price target for the company in a report on Tuesday, November 7th. Argus reaffirmed a “buy” rating on shares of 3M in a report on Friday, December 22nd. Citigroup lifted their price objective on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a report on Tuesday, January 16th. Hilliard Lyons raised 3M from a “neutral” rating to a “buy” rating and set a $285.00 price objective for the company in a report on Wednesday, January 24th. Finally, Vetr raised 3M from a “hold” rating to a “buy” rating and set a $250.06 price objective for the company in a report on Monday, February 5th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $254.02.
3M (NYSE:MMM) last released its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. equities research analysts anticipate that 3M Co will post 10.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be issued a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.36%. This is a boost from 3M’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, February 15th. 3M’s payout ratio is 59.32%.
In other news, EVP Frank R. Jr. Little sold 3,133 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $236.85, for a total value of $742,051.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Inge G. Thulin sold 35,236 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the completion of the transaction, the chairman now directly owns 253,873 shares of the company’s stock, valued at $63,757,665.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,806 shares of company stock valued at $13,162,628. 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.
Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).
Receive News & Ratings for 3M Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 3M and related companies with MarketBeat.com's FREE daily email newsletter.