Carillon Tower Advisers Inc. purchased a new position in shares of 3M Co (NYSE:MMM) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 66,586 shares of the conglomerate’s stock, valued at approximately $15,672,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lenox Wealth Advisors Inc. boosted its stake in shares of 3M by 16,300.0% during the 4th quarter. Lenox Wealth Advisors Inc. now owns 492 shares of the conglomerate’s stock worth $116,000 after acquiring an additional 489 shares in the last quarter. Horan Capital Management bought a new stake in shares of 3M during the 4th quarter worth about $123,000. Sawyer & Company Inc bought a new stake in shares of 3M during the 4th quarter worth about $138,000. Field & Main Bank bought a new stake in shares of 3M during the 4th quarter worth about $140,000. Finally, Ford Financial Group Inc. bought a new stake in shares of 3M during the 4th quarter worth about $143,000. Institutional investors own 66.89% of the company’s stock.
3M Co (NYSE:MMM) opened at $237.22 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.86 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $140,460.58, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 2.19 and a beta of 1.10. 3M Co has a twelve month low of $188.62 and a twelve month high of $259.77.
3M (NYSE:MMM) last posted its quarterly earnings results on Thursday, January 25th. The conglomerate reported $2.10 EPS for the quarter, beating the consensus estimate of $2.03 by $0.07. The firm had revenue of $7.99 billion during the quarter, compared to analysts’ expectations of $7.85 billion. 3M had a return on equity of 48.34% and a net margin of 15.35%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 EPS. equities research analysts expect that 3M Co will post 10.59 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Friday, February 16th were issued a $1.36 dividend. This is a boost from 3M’s previous quarterly dividend of $0.01. The ex-dividend date was Thursday, February 15th. This represents a $5.44 annualized dividend and a yield of 2.29%. 3M’s dividend payout ratio is 68.69%.
Several equities analysts recently weighed in on the company. Argus reissued a “buy” rating on shares of 3M in a research report on Friday, December 22nd. Citigroup boosted their price objective on 3M from $268.00 to $278.00 and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Hilliard Lyons raised 3M from a “neutral” rating to a “buy” rating and set a $285.00 price objective for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $221.00 price objective (up previously from $208.00) on shares of 3M in a research report on Thursday, January 18th. Finally, Zacks Investment Research raised 3M from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research report on Monday, January 15th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $254.02.
In other 3M news, EVP Frank R. Jr. Little sold 3,133 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $236.85, for a total value of $742,051.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael F. Roman sold 4,146 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $246.65, for a total value of $1,022,610.90. Following the completion of the transaction, the executive vice president now directly owns 16,208 shares of the company’s stock, valued at approximately $3,997,703.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,806 shares of company stock valued at $13,162,628. 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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