First National Bank Sioux Falls lifted its stake in 3M Co (NYSE:MMM) by 53.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,878 shares of the conglomerate’s stock after purchasing an additional 654 shares during the quarter. 3M comprises about 1.5% of First National Bank Sioux Falls’ portfolio, making the stock its 24th largest holding. First National Bank Sioux Falls’ holdings in 3M were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently made changes to their positions in the company. Kopp Investment Advisors LLC increased its holdings in shares of 3M by 0.4% during the 2nd quarter. Kopp Investment Advisors LLC now owns 5,281 shares of the conglomerate’s stock valued at $1,099,000 after purchasing an additional 20 shares in the last quarter. Smith Chas P & Associates PA Cpas grew its stake in 3M by 2.0% in the 2nd quarter. Smith Chas P & Associates PA Cpas now owns 1,991 shares of the conglomerate’s stock valued at $414,000 after acquiring an additional 39 shares during the period. Parallel Advisors LLC grew its stake in 3M by 1.8% in the 2nd quarter. Parallel Advisors LLC now owns 3,101 shares of the conglomerate’s stock valued at $624,000 after acquiring an additional 55 shares during the period. Capital Advantage Inc. grew its stake in 3M by 4.8% in the 2nd quarter. Capital Advantage Inc. now owns 1,816 shares of the conglomerate’s stock valued at $378,000 after acquiring an additional 83 shares during the period. Finally, Sandhill Capital Partners LLC grew its stake in 3M by 0.5% in the 2nd quarter. Sandhill Capital Partners LLC now owns 16,851 shares of the conglomerate’s stock valued at $3,508,000 after acquiring an additional 88 shares during the period. 66.23% of the stock is owned by hedge funds and other institutional investors.
Shares of 3M Co (MMM) traded down $3.03 during trading hours on Thursday, reaching $245.08. 830,584 shares of the company’s stock were exchanged, compared to its average volume of 1,980,000. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.07 and a quick ratio of 1.47. The stock has a market capitalization of $145,950.00, a price-to-earnings ratio of 27.35, a PEG ratio of 2.44 and a beta of 1.10. 3M Co has a one year low of $173.55 and a one year high of $249.00.
3M (NYSE:MMM) last issued its quarterly earnings results on Tuesday, October 24th. The conglomerate reported $2.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.21 by $0.12. The company had revenue of $8.17 billion for the quarter, compared to analyst estimates of $7.93 billion. 3M had a net margin of 17.71% and a return on equity of 48.55%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.15 earnings per share. equities analysts forecast that 3M Co will post 9.1 earnings per share for the current fiscal year.
MMM has been the topic of several recent research reports. Argus lifted their target price on shares of 3M from $220.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. They noted that the move was a valuation call. Bank of America lifted their target price on shares of 3M from $227.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Zacks Investment Research upgraded 3M from a “hold” rating to a “buy” rating and set a $248.00 price target on the stock in a report on Wednesday, October 25th. Citigroup reiterated a “buy” rating and set a $250.00 price target (up previously from $228.00) on shares of 3M in a report on Monday, October 9th. Finally, Jefferies Group lifted their price target on 3M to $262.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $235.01.
In related news, VP Khandpur K. Ashish sold 4,004 shares of the company’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 value of $926,485.56. Following the completion of the transaction, the vice president now directly owns 5,236 shares of the company’s stock, valued at $1,211,558.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frank R. Jr. Little sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $234.47, for a total value of $351,705.00. The disclosure for this sale can be found here. Insiders have sold 22,804 shares of company stock worth $5,303,706 over the last quarter. Insiders own 0.58% of the company’s stock.
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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.
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