Caisse DE Depot ET Placement DU Quebec boosted its position in 3M Co (NYSE:MMM) by 11.9% during the second quarter, Holdings Channel reports. The institutional investor owned 2,045,824 shares of the conglomerate’s stock after acquiring an additional 217,000 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in 3M were worth $402,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of MMM. Boulegeris Investments Inc. grew its position in 3M by 28.8% in the 2nd quarter. Boulegeris Investments Inc. now owns 6,526 shares of the conglomerate’s stock worth $1,284,000 after purchasing an additional 1,461 shares during the last quarter. Burney Co. grew its position in 3M by 7.5% in the 2nd quarter. Burney Co. now owns 102,426 shares of the conglomerate’s stock worth $20,149,000 after purchasing an additional 7,105 shares during the last quarter. Saybrook Capital NC grew its position in 3M by 14.6% in the 2nd quarter. Saybrook Capital NC now owns 56,311 shares of the conglomerate’s stock worth $11,077,000 after purchasing an additional 7,175 shares during the last quarter. Captrust Financial Advisors grew its position in 3M by 14.1% in the 2nd quarter. Captrust Financial Advisors now owns 14,258 shares of the conglomerate’s stock worth $2,805,000 after purchasing an additional 1,759 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its position in 3M by 15.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 95,539 shares of the conglomerate’s stock worth $18,785,000 after purchasing an additional 12,919 shares during the last quarter. Institutional investors and hedge funds own 66.29% of the company’s stock.

In other 3M news, insider Jon T. Lindekugel sold 6,410 shares of the business’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $203.01, for a total value of $1,301,294.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric D. Hammes sold 1,272 shares of the business’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $216.00, for a total transaction of $274,752.00. Following the completion of the transaction, the insider now directly owns 5,634 shares of the company’s stock, valued at $1,216,944. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

MMM has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating in a research report on Monday, May 28th. Citigroup set a $263.00 price objective on shares of 3M and gave the stock a “buy” rating in a report on Saturday, June 9th. ValuEngine downgraded shares of 3M from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. MED downgraded shares of 3M from a “buy” rating to a “hold” rating and set a $208.00 price objective for the company. in a report on Thursday, July 12th. Finally, Deutsche Bank reaffirmed a “hold” rating and set a $208.00 price objective on shares of 3M in a report on Thursday, July 12th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. 3M has an average rating of “Hold” and an average price target of $234.97.

Shares of MMM stock opened at $209.53 on Tuesday. 3M Co has a 12-month low of $190.57 and a 12-month high of $259.77. The stock has a market cap of $121.26 billion, a P/E ratio of 22.85, a PEG ratio of 1.96 and a beta of 1.16. The company has a quick ratio of 1.08, a current ratio of 1.56 and a debt-to-equity ratio of 1.08.

3M (NYSE:MMM) last announced its earnings results on Tuesday, July 24th. The conglomerate reported $2.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.58 by $0.01. 3M had a net margin of 13.44% and a return on equity of 51.31%. The company had revenue of $8.39 billion during the quarter, compared to the consensus estimate of $8.36 billion. During the same period in the previous year, the firm posted $2.58 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. equities research analysts expect that 3M Co will post 10.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Friday, August 24th were paid a $1.36 dividend. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date was Thursday, August 23rd. 3M’s dividend payout ratio is presently 59.32%.

About 3M

3M Company operates as a diversified technology company worldwide. The company's Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; purification products; closure systems for personal hygiene products; acoustic systems products; automotive components; and abrasion-resistant films, and paint finishing and detailing products.

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

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