1 week Ago By ABMN Staff
New York Life Investment Management LLC boosted its stake in 3M ( NYSE:MMM – Free Report ) by 1.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 84,666 shares of the conglomerate’s stock after buying an additional 954 shares during the period.
New York Life Investment Management LLC’s holdings in 3M were worth $8,652,000 as of its most recent filing with the SEC. Other large investors have also recently bought and sold shares of the company. Gilbert & Cook Inc.
bought a new stake in 3M in the 4th quarter valued at $481,000. Aveo Capital Partners LLC bought a new stake in shares of 3M in the fourth quarter valued at about $219,000. Principal Securities Inc.
acquired a new position in shares of 3M in the fourth quarter valued at about $527,000. Teacher Retirement System of Texas increased its position in 3M by 29.9% during the fourth quarter.
Teacher Retirement System of Texas now owns 129,278 shares of the conglomerate’s stock worth $14,133,000 after acquiring an additional 29,772 shares during the period. Finally, AGF Management Ltd. raised its stake in 3M by 33.
1% in the 4th quarter. AGF Management Ltd. now owns 6,616 shares of the conglomerate’s stock worth $723,000 after purchasing an additional 1,644 shares in the last quarter.
65.25% of the stock is owned by institutional investors. Analyst Upgrades and Downgrades MMM has been the topic of a number of analyst reports.
StockNews.com lowered shares of 3M from a “buy” rating to a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price target on 3M from $100.
00 to $110.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised 3M from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.
00 to $150.00 in a report on Monday, July 29th. Argus raised 3M from a “hold” rating to a “buy” rating and set a $145.
00 target price on the stock in a report on Tuesday, July 30th. Finally, Citigroup boosted their price target on 3M from $100.00 to $133.
00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.
com, 3M presently has a consensus rating of “Hold” and an average price target of $124.43. 3M Stock Down 2.
1 % Shares of NYSE MMM opened at $128.60 on Friday. The stock has a 50-day moving average price of $118.
48 and a two-hundred day moving average price of $105.08. 3M has a 12 month low of $71.
12 and a 12 month high of $134.99. The company has a current ratio of 1.
36, a quick ratio of 1.08 and a debt-to-equity ratio of 2.95.
The company has a market cap of $71.16 billion, a price-to-earnings ratio of -10.11, a PEG ratio of 2.
49 and a beta of 0.95. 3M ( NYSE:MMM – Get Free Report ) last announced its quarterly earnings results on Friday, July 26th.
The conglomerate reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.
25. 3M had a net margin of 3.08% and a return on equity of 112.
92%. The company had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.
85 billion. During the same period in the prior year, the business earned $2.17 earnings per share.
As a group, analysts forecast that 3M will post 7.2 earnings per share for the current fiscal year. 3M Dividend Announcement The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th.
Stockholders of record on Monday, August 26th will be paid a dividend of $0.70 per share. This represents a $2.
80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Monday, August 26th.
3M’s payout ratio is -22.01%. Insider Transactions at 3M In related news, CFO Theresa E.
Reinseth sold 2,100 shares of 3M stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.
00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68.
The transaction was disclosed in a filing with the SEC, which can be accessed through this link . In other 3M news, CFO Theresa E. Reinseth sold 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th.
The shares were sold at an average price of $124.12, for a total value of $260,652.00.
Following the completion of the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at approximately $541,659.68. The sale was disclosed in a filing with the SEC, which is available at this hyperlink .
Also, Chairman Michael F. Roman sold 5,675 shares of 3M stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $123.
46, for a total transaction of $700,635.50. Following the transaction, the chairman now owns 174,036 shares in the company, valued at approximately $21,486,484.
56. The disclosure for this sale can be found here . Company insiders own 0.
34% of the company’s stock. About 3M ( Free Report ) 3M Company provides diversified technology services in the United States and internationally. The company's Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.
See Also Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M ( NYSE:MMM – Free Report ). 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.
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