Ieq Capital LLC Has $1.44 Million Position in 3M (NYSE:MMM)

Ieq Capital LLC boosted its stake in shares of 3M (NYSE:MMMGet Rating) by 186.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,008 shares of the conglomerate’s stock after purchasing an additional 8,466 shares during the period. Ieq Capital LLC’s holdings in 3M were worth $1,437,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of 3M by 0.3% during the second quarter. State Street Corp now owns 32,685,523 shares of the conglomerate’s stock worth $4,229,834,000 after purchasing an additional 94,802 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of 3M by 7.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 11,315,417 shares of the conglomerate’s stock worth $1,684,639,000 after purchasing an additional 758,126 shares during the period. Northern Trust Corp increased its stake in shares of 3M by 0.6% during the first quarter. Northern Trust Corp now owns 7,413,149 shares of the conglomerate’s stock worth $1,103,670,000 after purchasing an additional 44,714 shares during the period. Legal & General Group Plc increased its stake in shares of 3M by 3.5% during the second quarter. Legal & General Group Plc now owns 4,557,863 shares of the conglomerate’s stock worth $589,837,000 after purchasing an additional 155,110 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of 3M by 2.5% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,003,577 shares of the conglomerate’s stock worth $259,283,000 after purchasing an additional 48,400 shares during the period. 65.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at 3M

In other news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $126.28, for a total transaction of $135,245.88. Following the completion of the sale, the senior vice president now directly owns 3,313 shares in the company, valued at $418,365.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Rodriguez Beatriz Karin Chavez sold 1,071 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $126.28, for a total value of $135,245.88. Following the completion of the transaction, the senior vice president now directly owns 3,313 shares of the company’s stock, valued at $418,365.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kevin H. Rhodes sold 5,703 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $126.40, for a total transaction of $720,859.20. Following the completion of the transaction, the executive vice president now directly owns 2,033 shares of the company’s stock, valued at $256,971.20. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MMM. Wells Fargo & Company increased their target price on 3M from $123.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 19th. Mizuho lowered their price objective on 3M from $140.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 26th. Credit Suisse Group lowered their price objective on 3M to $127.00 in a research note on Thursday, October 27th. The Goldman Sachs Group reduced their target price on 3M from $149.00 to $129.00 and set a “neutral” rating on the stock in a report on Tuesday, October 11th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on 3M from $126.00 to $127.00 in a report on Wednesday, October 26th. Three investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, 3M has an average rating of “Hold” and a consensus target price of $133.79.

3M Stock Down 6.2 %

MMM opened at $115.00 on Wednesday. The stock has a market cap of $63.57 billion, a PE ratio of 10.02, a P/E/G ratio of 1.27 and a beta of 1.00. The company has a quick ratio of 0.97, a current ratio of 1.56 and a debt-to-equity ratio of 0.98. 3M has a 52 week low of $102.58 and a 52 week high of $175.25. The business’s fifty day simple moving average is $124.56 and its 200 day simple moving average is $126.19.

3M (NYSE:MMMGet Rating) last released its earnings results on Tuesday, January 24th. The conglomerate reported $2.28 EPS for the quarter, missing analysts’ consensus estimates of $2.38 by ($0.10). 3M had a net margin of 18.91% and a return on equity of 40.03%. The firm had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.09 billion. During the same period in the prior year, the company earned $2.31 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. As a group, research analysts expect that 3M will post 10.17 earnings per share for the current fiscal year.

3M Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Friday, November 18th were given a dividend of $1.49 per share. The ex-dividend date was Thursday, November 17th. This represents a $5.96 annualized dividend and a yield of 5.18%. 3M’s payout ratio is 51.92%.

About 3M

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3M Co is a technology company, which manufactures industrial, safety, and consumer products. It operates through the following segments: Safety and Industrial, Transportation and Electronics, Health Care, Consumer, and Corporate and Unallocated. The Safety and Industrial segment consists of personal safety, industrial adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules.

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Institutional Ownership by Quarter for 3M (NYSE:MMM)

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