First National Bank Sioux Falls boosted its holdings in shares of 3M Co (NYSE:MMM) by 53.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,878 shares of the conglomerate’s stock after acquiring an additional 654 shares during the quarter. 3M accounts for 1.5% of First National Bank Sioux Falls’ portfolio, making the stock its 24th biggest holding. First National Bank Sioux Falls’ holdings in 3M were worth $442,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of MMM. MPS Loria Financial Planners LLC bought a new position in shares of 3M in the 2nd quarter worth $124,000. Hoertkorn Richard Charles purchased a new position in 3M during the 3rd quarter worth $126,000. Harfst & Associates Inc. grew its stake in 3M by 17.0% during the 2nd quarter. Harfst & Associates Inc. now owns 688 shares of the conglomerate’s stock worth $143,000 after buying an additional 100 shares during the last quarter. Mascoma Wealth Management LLC grew its stake in 3M by 87.5% during the 3rd quarter. Mascoma Wealth Management LLC now owns 750 shares of the conglomerate’s stock worth $157,000 after buying an additional 350 shares during the last quarter. Finally, Pure Financial Advisors Inc. purchased a new position in 3M during the 4th quarter worth $224,000. Institutional investors own 66.28% of the company’s stock.
In related news, insider Hak Cheol Shin sold 8,385 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $247.20, for a total transaction of $2,072,772.00. Following the transaction, the insider now owns 120,105 shares of the company’s stock, valued at $29,689,956. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Ippocratis Vrohidis sold 225 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $249.68, for a total value of $56,178.00. The disclosure for this sale can be found here. Insiders have sold 45,527 shares of company stock worth $11,397,966 in the last quarter. Insiders own 0.58% of the company’s stock.
Several analysts have weighed in on MMM shares. Argus reiterated a “buy” rating on shares of 3M in a research note on Friday, December 22nd. Credit Suisse Group restated an “outperform” rating and issued a $237.00 target price (up previously from $229.00) on shares of 3M in a research note on Wednesday, October 11th. Citigroup upped their price target on 3M from $250.00 to $262.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $254.00 price target on shares of 3M in a report on Thursday, January 25th. Finally, ValuEngine cut 3M from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $245.45.
3M Co (MMM) opened at $245.17 on Friday. The company has a market capitalization of $146,030.00, a price-to-earnings ratio of 30.92, a PEG ratio of 2.32 and a beta of 1.08. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 1.86. 3M Co has a 52-week low of $173.55 and a 52-week high of $259.77.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.07. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company had revenue of $7.99 billion for the quarter, compared to analysts’ expectations of $7.85 billion. During the same period last year, the firm earned $1.88 earnings per share. 3M’s quarterly revenue was up 9.0% on a year-over-year basis. equities research analysts predict that 3M Co will post 10.6 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Friday, February 16th will be given a dividend of $1.36 per share. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $5.44 dividend on an annualized basis and a dividend yield of 2.22%. This is a boost from 3M’s previous quarterly dividend of $0.01. 3M’s payout ratio is 59.27%.
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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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