Axa Acquires 57,498 Shares of 3M Co (NYSE:MMM)

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Axa increased its holdings in shares of 3M Co (NYSE:MMM) by 15.4% during the 1st quarter, HoldingsChannel reports. The fund owned 430,552 shares of the conglomerate’s stock after buying an additional 57,498 shares during the period. Axa’s holdings in 3M were worth $58,775,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MMM. Tsfg LLC lifted its stake in shares of 3M by 52.7% in the first quarter. Tsfg LLC now owns 200 shares of the conglomerate’s stock worth $27,000 after buying an additional 69 shares in the last quarter. CCM Investment Advisers LLC lifted its stake in shares of 3M by 5.2% in the fourth quarter. CCM Investment Advisers LLC now owns 1,414 shares of the conglomerate’s stock worth $249,000 after buying an additional 70 shares in the last quarter. SP Asset Management lifted its stake in shares of 3M by 0.4% in the first quarter. SP Asset Management now owns 18,187 shares of the conglomerate’s stock worth $2,483,000 after buying an additional 71 shares in the last quarter. Day & Ennis LLC lifted its stake in shares of 3M by 4.4% in the first quarter. Day & Ennis LLC now owns 1,746 shares of the conglomerate’s stock worth $238,000 after buying an additional 73 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its stake in shares of 3M by 0.3% in the first quarter. Ipswich Investment Management Co. Inc. now owns 22,153 shares of the conglomerate’s stock worth $3,024,000 after buying an additional 74 shares in the last quarter. 65.83% of the stock is currently owned by institutional investors and hedge funds.

Shares of MMM stock opened at $155.99 on Wednesday. 3M Co has a 12 month low of $114.04 and a 12 month high of $187.72. The stock has a market cap of $89.48 billion, a P/E ratio of 18.31, a P/E/G ratio of 2.07 and a beta of 0.99. The company has a current ratio of 1.65, a quick ratio of 1.19 and a debt-to-equity ratio of 1.94. The company has a 50 day simple moving average of $153.78 and a two-hundred day simple moving average of $156.39.

3M (NYSE:MMM) last announced its earnings results on Tuesday, April 28th. The conglomerate reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.13. 3M had a net margin of 15.37% and a return on equity of 50.24%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.86 billion. During the same period in the prior year, the company earned $2.23 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. As a group, equities analysts forecast that 3M Co will post 7.91 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 22nd were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $5.88 dividend on an annualized basis and a yield of 3.77%. 3M’s dividend payout ratio is currently 64.62%.

Several research analysts have recently issued reports on MMM shares. Goldman Sachs Group dropped their target price on shares of 3M from $172.00 to $159.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. Credit Suisse Group increased their price objective on shares of 3M from $165.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th. Langenberg & Company upgraded shares of 3M to a “buy” rating and set a $180.00 price objective on the stock in a research report on Thursday, April 9th. Royal Bank of Canada increased their price objective on shares of 3M from $143.00 to $148.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Zacks Investment Research upgraded shares of 3M from a “sell” rating to a “hold” rating and set a $133.00 price objective on the stock in a research report on Thursday, April 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. 3M has an average rating of “Hold” and a consensus price target of $161.85.

In other news, EVP Michael G. Vale sold 14,062 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $148.34, for a total value of $2,085,957.08. Following the completion of the sale, the executive vice president now directly owns 46,900 shares of the company’s stock, valued at $6,957,146. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael F. Roman sold 7,894 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $148.70, for a total transaction of $1,173,837.80. Following the completion of the sale, the chief executive officer now directly owns 57,868 shares of the company’s stock, valued at $8,604,971.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,184 shares of company stock valued at $5,930,874. 0.42% of the stock is owned by corporate insiders.

3M Company Profile

3M Company operates as a technology company worldwide. The company's Industrial segment offers tapes, abrasives, adhesives, ceramics, sealants, specialty materials, purification products, closure systems, acoustic systems products, automotive components, abrasion-resistant films, and paint finishing and detailing products.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

Want to see what other hedge funds are holding MMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for 3M Co (NYSE:MMM).

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

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