Schnieders Capital Management LLC decreased its position in 3M Co. (NYSE:MMM) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,412 shares of the company’s stock after selling 10 shares during the period. Schnieders Capital Management LLC’s holdings in 3M were worth $2,174,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the company. Founders Capital Management LLC raised its stake in 3M by 0.4% in the second quarter. Founders Capital Management LLC now owns 1,916 shares of the company’s stock valued at $336,000 after buying an additional 8 shares during the last quarter. Gilman Hill Asset Management LLC increased its position in shares of 3M by 0.3% in the second quarter. Gilman Hill Asset Management LLC now owns 2,440 shares of the company’s stock valued at $427,000 after buying an additional 8 shares during the period. Capital Management Corp VA increased its position in shares of 3M by 0.3% in the second quarter. Capital Management Corp VA now owns 3,889 shares of the company’s stock valued at $681,000 after buying an additional 12 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of 3M by 0.8% in the second quarter. Sequoia Financial Advisors LLC now owns 1,799 shares of the company’s stock valued at $315,000 after buying an additional 14 shares during the period. Finally, 10 15 Associates Inc. increased its position in shares of 3M by 1.1% in the second quarter. 10 15 Associates Inc. now owns 1,239 shares of the company’s stock valued at $217,000 after buying an additional 14 shares during the period. 65.67% of the stock is currently owned by institutional investors and hedge funds.
3M Co. (NYSE:MMM) traded up 0.49% during midday trading on Friday, hitting $176.23. The stock had a trading volume of 2,419,430 shares. The stock has a market cap of $106.51 billion, a P/E ratio of 22.49 and a beta of 1.07. The company has a 50-day moving average price of $178.48 and a 200-day moving average price of $172.84. 3M Co. has a 52 week low of $134.64 and a 52 week high of $182.27.
3M (NYSE:MMM) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.01. The firm earned $7.70 billion during the quarter, compared to the consensus estimate of $7.73 billion. 3M had a return on equity of 41.84% and a net margin of 16.29%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 EPS. Equities analysts expect that 3M Co. will post $8.21 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 19th were given a dividend of $1.11 per share. The ex-dividend date was Wednesday, August 17th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.52%. 3M’s dividend payout ratio is presently 56.63%.
Several research analysts recently issued reports on MMM shares. Morgan Stanley reiterated a “sell” rating on shares of 3M in a research report on Friday, June 10th. Sanford C. Bernstein reiterated a “market perform” rating on shares of 3M in a research report on Monday, June 27th. Jefferies Group reiterated a “buy” rating on shares of 3M in a research report on Wednesday, July 6th. Credit Suisse Group AG reiterated a “buy” rating on shares of 3M in a research report on Sunday, July 10th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $164.00 price target on shares of 3M in a research report on Thursday, August 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. 3M presently has a consensus rating of “Hold” and an average price target of $167.11.
In related 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James L. Bauman sold 9,066 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $178.42, for a total value of $1,617,555.72. Following 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. 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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