Orion Portfolio Solutions LLC grew its position in 3M Co (NYSE:MMM) by 11.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,137 shares of the conglomerate’s stock after purchasing an additional 513 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in 3M were worth $801,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Fisher Asset Management LLC raised its holdings in 3M by 9,250.5% during the second quarter. Fisher Asset Management LLC now owns 4,429,230 shares of the conglomerate’s stock worth $690,916,000 after buying an additional 4,381,861 shares during the last quarter. Advisor Group Holdings Inc. acquired a new position in 3M during the first quarter worth $36,671,000. Flossbach Von Storch AG raised its holdings in 3M by 33.4% during the first quarter. Flossbach Von Storch AG now owns 7,767,020 shares of the conglomerate’s stock worth $1,060,276,000 after buying an additional 1,944,377 shares during the last quarter. Federated Hermes Inc. raised its holdings in 3M by 9,539.9% during the second quarter. Federated Hermes Inc. now owns 954,250 shares of the conglomerate’s stock worth $148,853,000 after buying an additional 944,351 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in 3M by 14.6% during the second quarter. Bank of New York Mellon Corp now owns 7,146,801 shares of the conglomerate’s stock worth $1,114,829,000 after buying an additional 910,485 shares during the last quarter. 64.57% of the stock is currently owned by institutional investors.

MMM traded up $2.39 during trading on Wednesday, hitting $168.96. 43,344 shares of the company traded hands, compared to its average volume of 3,745,510. The firm has a market cap of $97.04 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 2.12 and a beta of 0.97. The stock’s fifty day moving average is $161.78 and its 200 day moving average is $152.37. The company has a quick ratio of 1.36, a current ratio of 1.94 and a debt-to-equity ratio of 1.77. 3M Co has a one year low of $114.04 and a one year high of $182.54.

3M (NYSE:MMM) last posted its quarterly earnings results on Tuesday, July 28th. The conglomerate reported $1.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.77 by $0.01. The company had revenue of $7.18 billion during the quarter, compared to analyst estimates of $7.29 billion. 3M had a net margin of 16.38% and a return on equity of 46.86%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 earnings per share. On average, equities research analysts forecast that 3M Co will post 8.25 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Saturday, September 12th. Shareholders of record on Monday, August 24th were given a dividend of $1.47 per share. The ex-dividend date was Friday, August 21st. This represents a $5.88 dividend on an annualized basis and a yield of 3.48%. 3M’s dividend payout ratio is presently 64.62%.

Several analysts have recently commented on MMM shares. Barclays increased their target price on shares of 3M from $156.00 to $157.00 and gave the company an “underweight” rating in a report on Wednesday, July 29th. Credit Suisse Group increased their target price on shares of 3M from $179.00 to $197.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. increased their target price on shares of 3M from $154.00 to $159.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Morgan Stanley increased their target price on shares of 3M from $160.00 to $166.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Finally, Royal Bank of Canada increased their target price on shares of 3M from $158.00 to $170.00 and gave the company a “sector perform” rating in a report on Wednesday, July 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. 3M presently has a consensus rating of “Hold” and a consensus price target of $166.23.

In other 3M news, SVP John Patrick Banovetz sold 2,228 shares of the stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $164.81, for a total transaction of $367,196.68. Following the completion of the transaction, the senior vice president now owns 10,506 shares in the company, valued at $1,731,493.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, 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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