PARK CIRCLE Co acquired a new position in 3M Co (NYSE:MMM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 200 shares of the conglomerate’s stock, valued at approximately $27,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. ICW Investment Advisors LLC boosted its holdings in shares of 3M by 33.2% in the first quarter. ICW Investment Advisors LLC now owns 2,229 shares of the conglomerate’s stock worth $304,000 after buying an additional 555 shares during the last quarter. Nuance Investments LLC boosted its holdings in shares of 3M by 47.1% in the first quarter. Nuance Investments LLC now owns 509,943 shares of the conglomerate’s stock worth $69,612,000 after buying an additional 163,211 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of 3M by 20.4% in the first quarter. Van ECK Associates Corp now owns 63,472 shares of the conglomerate’s stock worth $8,665,000 after buying an additional 10,747 shares during the last quarter. Meristem Family Wealth LLC raised its stake in 3M by 1.8% during the 1st quarter. Meristem Family Wealth LLC now owns 23,253 shares of the conglomerate’s stock worth $3,174,000 after acquiring an additional 405 shares during the period. Finally, Thomas White International Ltd. bought a new stake in 3M during the 1st quarter worth approximately $334,000. 65.83% of the stock is currently owned by institutional investors.
Shares of NYSE:MMM traded up $0.31 during trading on Monday, reaching $156.75. The company’s stock had a trading volume of 56,809 shares, compared to its average volume of 4,175,762. The company has a current ratio of 1.65, a quick ratio of 1.19 and a debt-to-equity ratio of 1.94. 3M Co has a 12 month low of $114.04 and a 12 month high of $187.72. The firm’s 50 day simple moving average is $147.06 and its two-hundred day simple moving average is $158.21. The stock has a market capitalization of $89.51 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 2.08 and a beta of 0.99.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 22nd will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Thursday, May 21st. 3M’s payout ratio is 64.62%.
A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of 3M from $141.00 to $154.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 29th. Citigroup boosted their target price on shares of 3M from $146.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Bank of America lifted their price target on shares of 3M from $165.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Zacks Investment Research raised shares of 3M from a “sell” rating to a “hold” rating and set a $133.00 price objective for the company in a report on Thursday, April 30th. Finally, Goldman Sachs Group dropped their price objective on shares of 3M from $172.00 to $159.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $161.85.
In other 3M news, EVP Michael G. Vale sold 14,062 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $148.34, for a total value of $2,085,957.08. Following the completion of the sale, the executive vice president now owns 46,900 shares of the company’s stock, valued at $6,957,146. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael F. Roman sold 7,894 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $148.70, for a total transaction of $1,173,837.80. Following the completion of the sale, the chief executive officer now directly owns 57,868 shares of the company’s stock, valued at approximately $8,604,971.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,184 shares of company stock valued at $5,930,874. 0.42% of the stock is owned by insiders.
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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