Autus Asset Management LLC decreased its stake in 3M Co. (NYSE:MMM) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,999 shares of the company’s stock after selling 527 shares during the period. Autus Asset Management LLC’s holdings in 3M were worth $1,751,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MMM. Tufton Capital Management increased its stake in 3M by 0.4% in the first quarter. Tufton Capital Management now owns 28,611 shares of the company’s stock valued at $4,767,000 after buying an additional 114 shares during the period. Taylor Wealth Management Partners increased its stake in 3M by 30.1% in the first quarter. Taylor Wealth Management Partners now owns 2,204 shares of the company’s stock valued at $367,000 after buying an additional 510 shares during the period. Osborn Rohs Williams & Donohoe Ltd increased its stake in 3M by 13.9% in the first quarter. Osborn Rohs Williams & Donohoe Ltd now owns 15,541 shares of the company’s stock valued at $2,590,000 after buying an additional 1,902 shares during the period. Dalton Greiner Hartman Maher & Co. acquired a new stake in 3M during the first quarter valued at $19,252,000. Finally, Acadian Asset Management LLC increased its stake in 3M by 22.0% in the first quarter. Acadian Asset Management LLC now owns 43,441 shares of the company’s stock valued at $7,238,000 after buying an additional 7,829 shares during the period. 65.67% of the stock is owned by institutional investors.
Shares of 3M Co. (NYSE:MMM) traded up 0.46% during midday trading on Wednesday, hitting $177.11. The stock had a trading volume of 756,902 shares. The firm has a 50 day moving average price of $178.73 and a 200 day moving average price of $172.69. The stock has a market cap of $107.05 billion, a PE ratio of 22.60 and a beta of 1.07. 3M Co. has a one year low of $134.64 and a one year high of $182.27.
3M (NYSE:MMM) last announced its earnings results on Tuesday, July 26th. The company reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.01. 3M had a return on equity of 41.84% and a net margin of 16.29%. The company earned $7.70 billion during the quarter, compared to analysts’ expectations of $7.73 billion. During the same period last year, the business posted $2.02 EPS. 3M’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts forecast that 3M Co. will post $8.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 19th were issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Wednesday, August 17th. 3M’s dividend payout ratio (DPR) is 56.63%.
Several analysts have recently weighed in on MMM shares. Credit Suisse Group AG reiterated a “buy” rating on shares of 3M in a research report on Sunday, July 10th. Jefferies Group restated a “buy” rating on shares of 3M in a report on Thursday, August 4th. Deutsche Bank AG restated a “hold” rating and issued a $164.00 price objective on shares of 3M in a report on Thursday, August 25th. Zacks Investment Research downgraded 3M from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of 3M in a report on Monday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $167.11.
In other 3M news, VP Khandpur K. Ashish sold 1,679 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $178.39, for a total value of $299,516.81. Following the sale, the vice president now owns 1,011 shares of the company’s stock, valued at approximately $180,352.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James L. Bauman sold 9,066 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $178.42, for a total value of $1,617,555.72. Following the completion of the sale, the insider now directly owns 10,834 shares in the company, valued at approximately $1,933,002.28. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.
3M Company is a technology company. The Company operates through five segments. Its Industrial segment serves markets, such as automotive original equipment manufacturer and automotive aftermarket, electronics, appliance, paper and printing, packaging, food and beverage, and construction. Its Safety and Graphics segment serves markets for the safety, security and productivity of people, facilities and systems.
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