California Public Employees Retirement System grew its position in 3M Co (NYSE:MMM) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,555,240 shares of the conglomerate’s stock after acquiring an additional 22,971 shares during the quarter. California Public Employees Retirement System’s holdings in 3M were worth $366,057,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in MMM. APG Asset Management N.V. raised its holdings in shares of 3M by 128.1% during the 4th quarter. APG Asset Management N.V. now owns 1,427,350 shares of the conglomerate’s stock valued at $279,776,000 after buying an additional 801,639 shares during the period. Bank of Montreal Can increased its holdings in 3M by 38.9% during the 4th quarter. Bank of Montreal Can now owns 930,370 shares of the conglomerate’s stock worth $218,981,000 after purchasing an additional 260,349 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in 3M by 229.3% during the 4th quarter. Teacher Retirement System of Texas now owns 363,943 shares of the conglomerate’s stock worth $85,661,000 after purchasing an additional 253,420 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in 3M by 8.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,024,371 shares of the conglomerate’s stock worth $476,476,000 after purchasing an additional 159,668 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in 3M by 4.7% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 3,171,136 shares of the conglomerate’s stock worth $746,391,000 after purchasing an additional 142,799 shares during the last quarter. Institutional investors and hedge funds own 66.17% of the company’s stock.
In other news, Chairman Inge G. Thulin sold 35,236 shares of 3M stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $251.14, for a total value of $8,849,169.04. Following the completion of the transaction, the chairman now owns 253,873 shares in the company, valued at approximately $63,757,665.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Michael F. Roman sold 4,146 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total value of $1,022,610.90. Following the transaction, the executive vice president now owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,673 shares of company stock valued at $12,420,577. Insiders own 0.58% of the company’s stock.
3M Co (NYSE:MMM) opened at $237.02 on Monday. The company has a market capitalization of $141,150.00, a P/E ratio of 25.85, a PEG ratio of 2.20 and a beta of 1.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. 3M Co has a 12-month low of $186.30 and a 12-month high of $259.77.
3M (NYSE:MMM) last issued its earnings results on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, topping the consensus estimate of $2.03 by $0.07. The company had revenue of $7.99 billion during the quarter, compared to analyst estimates of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.88 EPS. research analysts expect that 3M Co will post 10.59 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a $1.36 dividend. This is a positive change from 3M’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, February 15th. This represents a $5.44 annualized dividend and a dividend yield of 2.30%. 3M’s dividend payout ratio (DPR) is presently 59.32%.
3M Company is a technology company. It operates through five segments. The Industrial segment serves a range of markets, such as automotive original equipment manufacturer and automotive aftermarket, , appliance, paper and printing, packaging, food and beverage, and construction. The Safety and Graphics segment serves a range of markets for the safety, security and productivity of people, facilities and systems.
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