Stephens Inc. AR boosted its holdings in shares of 3M Co (NYSE:MMM) by 6.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,407 shares of the conglomerate’s stock after buying an additional 4,210 shares during the period. Stephens Inc. AR’s holdings in 3M were worth $11,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. TRUE Private Wealth Advisors acquired a new position in 3M during the 2nd quarter valued at about $152,000. Miller Investment Management LP increased its holdings in shares of 3M by 14.1% in the second quarter. Miller Investment Management LP now owns 11,129 shares of the conglomerate’s stock valued at $1,929,000 after purchasing an additional 1,375 shares during the period. Jacobs & Co. CA increased its holdings in shares of 3M by 5.6% in the second quarter. Jacobs & Co. CA now owns 42,335 shares of the conglomerate’s stock valued at $7,338,000 after purchasing an additional 2,236 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in shares of 3M by 78.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 509,482 shares of the conglomerate’s stock valued at $87,748,000 after purchasing an additional 223,658 shares during the period. Finally, Hayden Royal LLC increased its holdings in shares of 3M by 26.0% in the second quarter. Hayden Royal LLC now owns 1,230 shares of the conglomerate’s stock valued at $209,000 after purchasing an additional 254 shares during the period. 67.55% of the stock is currently owned by institutional investors.

A number of research analysts have recently weighed in on MMM shares. Citigroup cut their price objective on 3M from $221.00 to $197.00 and set a “buy” rating on the stock in a report on Monday, June 3rd. Barclays reissued a “sell” rating and issued a $162.00 price objective on shares of 3M in a report on Thursday, June 6th. Royal Bank of Canada set a $179.00 price objective on 3M and gave the company a “hold” rating in a report on Friday, July 26th. Bank of America cut their price objective on 3M from $193.00 to $185.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Gordon Haskett lowered 3M from a “buy” rating to a “hold” rating and set a $191.98 price objective on the stock. in a report on Monday, April 29th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $182.54.

In other news, Director David B. Dillon bought 1,200 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were acquired at an average price of $169.50 per share, for a total transaction of $203,400.00. Following the completion of the transaction, the director now directly owns 1,200 shares in the company, valued at approximately $203,400. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Patrick Banovetz sold 1,040 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $170.40, for a total value of $177,216.00. Following the completion of the transaction, the insider now owns 5,974 shares in the company, valued at approximately $1,017,969.60. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

MMM stock traded down $5.81 during mid-day trading on Wednesday, reaching $159.07. 257,849 shares of the company’s stock were exchanged, compared to its average volume of 2,790,484. The firm has a market capitalization of $94.04 billion, a P/E ratio of 15.32, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The firm has a 50 day moving average of $171.41. The company has a current ratio of 1.93, a quick ratio of 1.34 and a debt-to-equity ratio of 1.53. 3M Co has a 12-month low of $158.04 and a 12-month high of $219.75.

3M (NYSE:MMM) last released its earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.16. The business had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $8.10 billion. 3M had a return on equity of 55.05% and a net margin of 15.27%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.59 earnings per share. Analysts predict that 3M Co will post 9.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 16th will be given a $1.44 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.76 annualized dividend and a dividend yield of 3.62%. 3M’s dividend payout ratio (DPR) is presently 55.07%.

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.

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

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