Trustcore Financial Services LLC bought a new stake in shares of 3M Co (NYSE:MMM) during the 4th quarter, HoldingsChannel reports. The firm bought 1,299 shares of the conglomerate’s stock, valued at approximately $306,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Lenox Wealth Advisors Inc. lifted its stake in shares of 3M by 16,300.0% in the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock worth $116,000 after purchasing an additional 489 shares during the period. Horan Capital Management bought a new position in shares of 3M in the 4th quarter worth approximately $123,000. Sawyer & Company Inc bought a new position in shares of 3M in the 4th quarter worth approximately $138,000. Field & Main Bank bought a new position in shares of 3M in the 4th quarter worth approximately $140,000. Finally, Mascoma Wealth Management LLC lifted its stake in shares of 3M by 87.5% in the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 66.89% of the company’s stock.
3M Co (NYSE:MMM) opened at $241.35 on Monday. 3M Co has a fifty-two week low of $188.62 and a fifty-two week high of $259.77. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.86 and a quick ratio of 1.33. The firm has a market cap of $143,720.00, a price-to-earnings ratio of 26.32, a P/E/G ratio of 2.24 and a beta of 1.10.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Friday, February 16th will be issued a $1.36 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from 3M’s previous quarterly dividend of $0.01. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.25%. 3M’s dividend payout ratio (DPR) is 59.32%.
Several equities analysts have recently weighed in on MMM shares. Argus reiterated a “buy” rating on shares of 3M in a research note on Friday, December 22nd. Citigroup raised their target price on shares of 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Hilliard Lyons upgraded shares of 3M from a “neutral” rating to a “buy” rating and set a $285.00 target price on the stock in a research note on Wednesday, January 24th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $221.00 price objective (up from $208.00) on shares of 3M in a report on Thursday, January 18th. Finally, Zacks Investment Research raised shares of 3M from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a report on Monday, January 15th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. 3M presently has an average rating of “Hold” and an average target price of $254.02.
In related news, Chairman Inge G. Thulin sold 35,236 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were 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 directly owns 253,873 shares of the company’s stock, valued at $63,757,665.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Hak Cheol Shin sold 8,385 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $247.20, for a total transaction of $2,072,772.00. Following the completion of the transaction, the insider now directly owns 120,105 shares of the company’s stock, valued at $29,689,956. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,806 shares of company stock valued at $13,162,628. 0.58% of the stock is currently owned by insiders.
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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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