3M Co (NYSE:MMM) Stake Boosted by Stillwater Investment Management LLC

Stillwater Investment Management LLC grew its position in shares of 3M Co (NYSE:MMM) by 179.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,884 shares of the conglomerate’s stock after buying an additional 48,082 shares during the period. 3M makes up 5.3% of Stillwater Investment Management LLC’s holdings, making the stock its 2nd biggest position. Stillwater Investment Management LLC’s holdings in 3M were worth $8,782,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of MMM. Capital Research Global Investors acquired a new stake in 3M in the second quarter valued at about $89,237,000. Coho Partners Ltd. boosted its stake in 3M by 26.8% in the second quarter. Coho Partners Ltd. now owns 687,532 shares of the conglomerate’s stock valued at $143,137,000 after buying an additional 145,318 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in 3M in the third quarter valued at about $28,564,000. Capital Wealth Planning LLC boosted its stake in shares of 3M by 1,854.3% during the second quarter. Capital Wealth Planning LLC now owns 131,427 shares of the conglomerate’s stock valued at $27,362,000 after purchasing an additional 124,702 shares in the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of 3M by 4.9% during the second quarter. UBS Asset Management Americas Inc. now owns 1,916,848 shares of the conglomerate’s stock valued at $399,069,000 after purchasing an additional 89,307 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

MMM has been the topic of a number of recent research reports. Bank of America reissued a “buy” rating and set a $227.00 price target on shares of 3M in a research note on Thursday, September 14th. Royal Bank of Canada reissued a “hold” rating and set a $209.00 price target on shares of 3M in a research note on Friday, September 15th. JPMorgan Chase & Co. lowered 3M from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $185.00 to $201.00 in a research note on Wednesday, September 20th. Morgan Stanley lifted their price target on 3M from $190.00 to $201.00 and gave the company an “underweight” rating in a research note on Monday, October 2nd. Finally, Zacks Investment Research lowered 3M from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $232.15.

In other 3M news, Chairman Inge G. Thulin sold 6,823 shares of 3M stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.14, for a total value of $1,590,714.22. Following the completion of the sale, the chairman now directly owns 196,906 shares in the company, valued at $45,906,664.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ivan K. Fong sold 2,348 shares of 3M stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $233.12, for a total value of $547,365.76. Following the completion of the sale, the vice president now owns 24,479 shares of the company’s stock, valued at $5,706,544.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,804 shares of company stock valued at $5,303,706. 0.58% of the stock is currently owned by corporate insiders.

3M Co (NYSE MMM) traded up $1.17 during trading on Thursday, hitting $242.31. The company had a trading volume of 1,490,000 shares, compared to its average volume of 2,030,000. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.47 and a current ratio of 2.07. The firm has a market capitalization of $144,320.00, a price-to-earnings ratio of 27.04, a P/E/G ratio of 2.39 and a beta of 1.10. 3M Co has a one year low of $173.55 and a one year high of $244.23.

3M (NYSE:MMM) last issued its earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. The business 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%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.15 earnings per share. analysts predict that 3M Co will post 9.09 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Friday, November 24th were issued a $0.0118 dividend. The ex-dividend date was Wednesday, November 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.02%. 3M’s payout ratio is currently 52.46%.

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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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