Boulegeris Investments Inc. increased its holdings in shares of 3M Co (NYSE:MMM) by 28.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,526 shares of the conglomerate’s stock after buying an additional 1,461 shares during the period. Boulegeris Investments Inc.’s holdings in 3M were worth $1,284,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allianz Life Insurance Co of North America bought a new stake in 3M in the first quarter valued at approximately $239,000. Quattro Financial Advisors LLC bought a new stake in 3M in the first quarter valued at approximately $119,000. State Treasurer State of Michigan increased its stake in 3M by 0.3% in the second quarter. State Treasurer State of Michigan now owns 175,776 shares of the conglomerate’s stock valued at $34,579,000 after purchasing an additional 500 shares in the last quarter. Rockland Trust Co. increased its stake in 3M by 10.5% in the second quarter. Rockland Trust Co. now owns 10,393 shares of the conglomerate’s stock valued at $2,045,000 after purchasing an additional 989 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in 3M by 3.8% in the second quarter. Rockefeller Capital Management L.P. now owns 9,935 shares of the conglomerate’s stock valued at $1,954,000 after purchasing an additional 367 shares in the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.

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

MMM has been the subject of several recent analyst reports. Citigroup set a $263.00 target price on shares of 3M and gave the company a “buy” rating in a research note on Saturday, June 9th. ValuEngine cut shares of 3M from a “hold” rating to a “sell” rating in a report on Thursday, June 21st. Barclays reduced their price target on shares of 3M from $210.00 to $201.00 and set an “underweight” rating for the company in a report on Wednesday, July 25th. Zacks Investment Research cut shares of 3M from a “hold” rating to a “sell” rating in a report on Sunday, July 15th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $234.00 price target on shares of 3M in a report on Wednesday, July 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $234.97.

3M stock opened at $209.53 on Tuesday. The company has a market capitalization of $121.26 billion, a PE ratio of 22.85, a P/E/G ratio of 1.96 and a beta of 1.16. 3M Co has a twelve month low of $190.57 and a twelve month high of $259.77. 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 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $8.39 billion during the quarter, compared to analysts’ expectations of $8.36 billion. During the same quarter in the prior year, the company posted $2.58 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. equities research analysts predict that 3M Co will post 10.37 EPS for the current fiscal year.

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