Sullivan Bruyette Speros & Blaney LLC increased its position in 3M Co (NYSE:MMM) by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,853 shares of the conglomerate’s stock after purchasing an additional 266 shares during the quarter. Sullivan Bruyette Speros & Blaney LLC’s holdings in 3M were worth $1,361,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in 3M by 202.0% during the first quarter. Creative Financial Designs Inc. ADV now owns 151 shares of the conglomerate’s stock worth $31,000 after acquiring an additional 101 shares in the last quarter. Weaver Consulting Group acquired a new position in 3M during the first quarter worth $32,000. Cordasco Financial Network raised its stake in 3M by 220.0% during the first quarter. Cordasco Financial Network now owns 160 shares of the conglomerate’s stock worth $33,000 after acquiring an additional 110 shares in the last quarter. Capital Financial Planning LLC acquired a new position in 3M during the fourth quarter worth $34,000. Finally, Arcus Capital Partners LLC acquired a new position in 3M during the second quarter worth $35,000. 66.84% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:MMM traded down $1.22 during midday trading on Tuesday, reaching $161.73. The company’s stock had a trading volume of 493,096 shares, compared to its average volume of 3,281,698. 3M Co has a fifty-two week low of $155.63 and a fifty-two week high of $219.75. The company has a market capitalization of $92.91 billion, a P/E ratio of 15.46, a P/E/G ratio of 1.83 and a beta of 1.09. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.93 and a quick ratio of 1.34. The business’s fifty day simple moving average is $169.96 and its 200-day simple moving average is $186.98.

3M (NYSE:MMM) last announced its earnings results on Thursday, July 25th. The conglomerate reported $2.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.04 by $0.16. 3M had a return on equity of 55.05% and a net margin of 15.27%. The company had revenue of $8.17 billion during the quarter, compared to analyst estimates of $8.10 billion. During the same period last year, the company posted $2.59 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that 3M Co will post 9.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Friday, August 16th will be paid a $1.44 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $5.76 dividend on an annualized basis and a dividend yield of 3.56%. 3M’s dividend payout ratio (DPR) is presently 55.07%.

Several research firms have issued reports on MMM. UBS Group dropped their price objective on 3M from $201.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada set a $179.00 price objective on 3M and gave the stock a “hold” rating in a research note on Friday, July 26th. Bank of America dropped their price objective on 3M from $193.00 to $185.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Barclays reiterated a “sell” rating and set a $162.00 price objective on shares of 3M in a research note on Thursday, June 6th. Finally, Morgan Stanley increased their price objective on 3M from $172.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $182.54.

In other news, insider John Patrick Banovetz sold 1,040 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $170.40, for a total value of $177,216.00. Following the completion of the sale, the insider now directly owns 5,974 shares in the company, valued at $1,017,969.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

3M 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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