3M Company (MMM) Position Trimmed by SG Americas Securities LLC

SG Americas Securities LLC decreased its holdings in shares of 3M Company (NYSE:MMM) by 95.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,716 shares of the conglomerate’s stock after selling 550,395 shares during the quarter. SG Americas Securities LLC’s holdings in 3M were worth $5,608,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Karp Capital Management Corp grew its holdings in 3M by 16,353.8% during the 1st quarter. Karp Capital Management Corp now owns 496,246 shares of the conglomerate’s stock worth $94,947,000 after acquiring an additional 493,230 shares in the last quarter. Swiss National Bank lifted its position in shares of 3M by 26.6% during the first quarter. Swiss National Bank now owns 2,131,304 shares of the conglomerate’s stock valued at $407,782,000 after buying an additional 447,900 shares during the last quarter. Capital Research Global Investors purchased a new stake in shares of 3M during the second quarter valued at about $89,237,000. Bank of New York Mellon Corp lifted its position in shares of 3M by 4.6% during the first quarter. Bank of New York Mellon Corp now owns 6,844,989 shares of the conglomerate’s stock valued at $1,309,651,000 after buying an additional 300,345 shares during the last quarter. Finally, State of Tennessee Treasury Department lifted its position in shares of 3M by 92.6% during the first quarter. State of Tennessee Treasury Department now owns 459,035 shares of the conglomerate’s stock valued at $87,828,000 after buying an additional 220,741 shares during the last quarter. Institutional investors and hedge funds own 66.33% of the company’s stock.

Shares of 3M Company (NYSE MMM) traded down $1.89 on Monday, reaching $239.26. 2,468,747 shares of the company traded hands, compared to its average volume of 1,841,361. The stock has a market cap of $142,510.00, a price-to-earnings ratio of 26.94, a P/E/G ratio of 2.61 and a beta of 1.10. 3M Company has a 12-month low of $171.09 and a 12-month high of $244.23. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07.

3M (NYSE:MMM) last released its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion during the quarter, compared to the consensus estimate of $7.93 billion. 3M had a return on equity of 48.55% and a net margin of 17.71%. 3M’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 EPS. research analysts anticipate that 3M Company will post 9.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th will be given a dividend of $0.0118 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Wednesday, November 22nd. 3M’s dividend payout ratio is presently 52.46%.

In related news, VP Khandpur K. Ashish sold 4,004 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $231.39, for a total transaction of $926,485.56. Following the completion of the sale, the vice president now owns 5,236 shares in the company, valued at $1,211,558.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Ippocratis Vrohidis sold 1,725 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $230.34, for a total value of $397,336.50. Following the sale, the chief accounting officer now owns 898 shares of the company’s stock, valued at approximately $206,845.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,804 shares of company stock valued at $5,303,706. Corporate insiders own 0.58% of the company’s stock.

Several analysts have commented on the stock. Jefferies Group reaffirmed a “buy” rating and issued a $234.00 price objective on shares of 3M in a research report on Wednesday, August 16th. ValuEngine downgraded shares of 3M from a “buy” rating to a “hold” rating in a report on Friday. Morgan Stanley increased their price target on shares of 3M from $190.00 to $201.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. Royal Bank Of Canada raised their price objective on shares of 3M from $205.00 to $209.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 25th. Finally, Stifel Nicolaus lifted their price target on shares of 3M from $220.00 to $244.00 and gave the company a “hold” rating in a research note on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company’s stock. 3M presently has a consensus rating of “Hold” and an average price target of $231.16.

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3M Profile

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.

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

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